Menu

MEDIA ROOM

NABARD unveils Rs 1.36L cr credit plan
Patna | February 2020
PATNA: National Bank for Agriculture and Rural Development (NABARD) on Monday unveiled the state’s annual credit plan (ACP) for 2020-21 financial year, pegging it at an ambitious Rs1.36 lakh crores for loan lending purposes in the eight priority
sectors.
 
NABARD chief general manager (CGM) Amitabh Raj said the ACP for 2020-21 has been increased by over Rs7,000 crore, as it was Rs1.29 lakh crore in 2019-20. “It is hoped that the increase would help in doubling the farmers’ income by 2022 and also increase the state’s credit-deposit ratio from the existing 44% compared to the national average of 77%,” Raj said. Of the eight priority sectors, Rs52,243.53 crore of loan is to be given in the areas of crop production, maintenance and marketing, while Rs17,851.66 crore has been fixed for term loan for agriculture and allied activities. Further, Rs5,587.27 crore would be given against agriculture infrastructure and Rs6,262.08 crore for ancillary activities.
 
Deputy CM Sushil Kumar Modi released the 2020-21 ACP for the state at a seminar at Gyan Bhavan. Finance department principal secretary S Sidharth, rural development department principal secretary Arvind Chaudhary, RBI regional director Dewesh Lal and SBI CGM Mahesh Goyal also spoke on the occasion.
 
Modi said the number of Kisan Credit Card (KCC) holders had been falling. Besides, the crop loan disbursed in 2015-16 was to the tune of Rs24,500 crore, when the number of KCC holders was 26.15 lakh. Loan disbursement has also come down to 2/4/2020 NABARD unveils Rs 1.36L cr credit plan - Times of India Rs19,445 crore.Lal also asked the bankers to sustain the SHGs, because they had emerged as major driver of local economic
activities at the micro level.