Home>>Business
NABARD organized State Credit Seminar
jkupdate.com | 11-Feb-2019 07:30 PM
|
  • The State Credit Seminar for the year 2019-20 was organised by NABARD, Jammu and Kashmir Regional Office on 11th February 2019 at Jammu.




JAMMU: The State Credit Seminar for the year 2019-20 was organised by NABARD, Jammu and Kashmir Regional Office on 11th February 2019 at Jammu. Advisor to Governor, Kewal Kumar Sharma was the Chief Guest of the Seminar which was also graced by Asgar Hasan Samoon, Principal Secretary to the Government,Animal and Sheep Husbandry Department, Thomas Mathew RD, RBI, Regional Director, RBI, P Balachandran, OIC/CGM, NABARD, Suresh Chand, CGM, NMABARD, Parvez Ahamed, Chairman J&K Bank and Convenor, JK SLBC and other senior officials from various departments of the Government of Jammu and Kashmir, besides bankers and other stakeholders.

NABARD has estimated a credit potential of ₹26042 crore for Jammu and Kashmir  under priority sector during 2019-20. This is almost 9 per cent higher than the 24000 crore credit potential for the current fiscal.

The credit projection for agriculture and allied sectors for 2019-20  were estimated at ₹10943.00 crore. An aggregate credit potential of ₹4436.00 crore has been made under agriculture term lending/investment credit.

The State Focus Paper estimated the followingsector-wise potentials estimated under agriculture infrastructure (₹469.20  crore), Agri. Ancillary (₹841.88 crore), MSME loans (₹9480.00 crore), export credit(₹192.66crore), educational loan (₹635.55crore), and housing loan (₹2724.88 crore).

Investment credit continues to be top priority for policymakers and banks in view of its role as the precursor for capital formation in agriculture. There is a need for providing financial assistance to the farmers more for investment activities by  banks and line departments.

Raising the income of farmers and creating enterprise and jobs at the local level are necessary to ensure sustainable and inclusive development of the State. In order to achieve this, there should be a greater thrust on sustainable agricultural practices which is the theme of this year State Focus Paper. Sustainable agricultural practices are the need of the hour in view of the climate changes. There is also a need to focus on the MSME sector with specific emphasis on Handicraft and Handloom sector, in the state.

With a view to doubling the farmers income, NABARD has been focussing on various interventions including better package of practices, formation of farmers collectives, improvement of livelihood activities, more water and soil conservation measures and development of market linkages.

Download JKUpdate APP Now: