NABARD conducts State Credit Seminar for 2023-24
Source: Chronicle News Service / DIPR
Imphal, February 16 2023:
Governor La Ganesan has said that implementation of credit plan and developmental programmes based on the State Focus Paper (SFP) 2023-24 potential estimates will encourage national financial inclusion programme and bring about development in the state.
A State Credit Seminar for 2023-24 was convened by National Bank for Agriculture and Rural Development (NABARD), Manipur Regional Office at Hotel Imphal, here, on Friday to release the SFP 2023-24 containing credit potential for priority sectors for enhanced credit flow in Manipur for the financial year 2023-24 .
Releasing the SFP 2023-24 which provides a roadmap to bankers for direction and expansion of credit flow in the state, the Governor stated that it is a matter of great satisfaction to note that the paper projects the Annual State Credit Potential of Rs 2599.02 crore under priority sector.
He continued that since its inception on December 30, 1981, NABARD has been providing credit and other facilities for the promotion of agriculture, micro, small and medium enterprises, cottage and village industries, handloom and handicrafts and other allied activities in rural areas with a view to promoting integrated rural development and security prosperity.
Citing the importance of green and renewable energy, Governor Ganesan pointed out that the centre has a long-term goal of reaching net zero carbon emission by 2070.In addition, empowerment of women and the hitherto non-bankable group of people through banking linkages by forming formal groups like SHGs, etc., not only accelerates the growth momentum but also leads to equitable sustainable development, he added.
The Governor also emphasised that priority sector lending and financial inclusion are the important priorities of the government with an objective to extend financial services to people to unlock its growth potential with the motto from 'Jandhan to Jansuraksha'.
He also appealed to banks and other financial institutions which are allotted targets for opening of branches at the identified locations to put necessary efforts for early opening of branches in all these locations.
On the other hand, additional chief secretary P Vaiphei highlighted various potentials of agriculture and horticultural development in the state.
He said that the priorities of the state are in alignment with centre's priorities with focus towards natural farming and organic fanning.
Meanwhile, NABARD GM & OIC N Guite said that to achieve the potential target banks must make concerted efforts in terms of enhancing and deepening credit flow to grassroots and unreached areas.
RBI, Imphal DGM Tongkho-pao Lhungdim; SLBC, Imphal convener Hepuni Bismarck; MSRLM SMD; Manipur Rural Bank chairman; lead district managers; senior government officials, senior officials of banks and NGOs were also present at the event.
In the potential estimates for 2023-24, NABARD has projected a total priority sector potential of Rs 2599.02 crore for 2023-24 with Rs 1425.77 crore projected for agriculture term loan including an amount of Rs 1087.58 crore for Crop Loan.
The credit potential for MSME sector and other priority sector were projected at Rs 713.03 crore and Rs 460.22 crore respectively.
The government was also requested for creating conducive climate and bridging the infrastructural gaps through state's budgetary allocation.
It is said that NABARD has been preparing potential credit plan for all the 16 districts of the state every year.
Bankers who are taking the lead in enrolling and implementation of various financial inclusion programmes were also felicitated at the seminar.
Comment
