NABARD estimates Rs 75,612 crores credit potential

The National Bank for Agriculture and Rural Development (NABARD) Saturday projected a total credit potential for Odisha under priority sector at Rs 75,612 crores for 2019-20.

This was a region of the State Focus Paper for Odisha, released at the State Credit Seminar for 2019-20.

The seminar was inaugurated by Chief secretary A P Padhi and attended by secretaries of different departments, RBI, SBI, Odisha State Cooperative Bank, Chairmen of RRBs, managing Heads of Banks and other dignitaries from banking and state government.

A Chandrasekhar, Chief General Manager, NABARD explained the process of preparation of state-level credit potential, the state credit projection forming the root of Annual Credit Plan.

The document assesses infrastructure available, planned, gaps, and its utilization as a referral document for planning infrastructure and credit dispensation by all stakeholders.

“The credit projections for Odisha for 2019-20 is at Rs 75,612 crores that are based on the potential assessed under various sectors and sub-sectors in all the agro-climatic zones of the state,” Chandrasekhar said and solicited the cooperation of state government, banks and other stakeholders towards achieving the potential.

He also highlighted the necessary business and developmental initiatives of NABARD in the state.

Padhi emphasized increasing the Agriculture term loan finance in other allied sector activities such as animal husbandry, poultry, and fisheries leading to asset formation and diversification of the income basket of farmers.

He also advised RBI and all the bankers to increase their banking outreach in unbanked areas of the state in order to assist the state government in the effective implementation of various developmental programmes and also increase the scope of digital banking and financial inclusion across the state.

Odisha’s Agriculture Secretary Saurabh Garg highlighted the importance of agriculture and allied sector potential in overall credit potential of the state, as two-thirds of the state’s population is dependent on agri and allied activities.