State Government to extend every support for realization of credit potential by banks & Government Departments : Sukhjinder Singh Randhawa
Releases State Focus Paper for year 2019-20 prepared by NABARD
5 Dariya News
Chandigarh 04-Feb-2019
The Cooperation Minister, Punjab, Sukhjinder Singh Randhawa today released the State Focus Paper for the year 2019-20 prepared by NABARD in the State Credit Seminar held in Chandigarh. The seminar was attended by Mr. Vishwajeet Khanna, Additional Chief Secretary cum Finance Commissioner Development , Mrs. Rachna Dixit Regional Director, RBI, Mr. Sanjay Kumar General Manager, SBI and Mr. P.K. Anand, GM-SLBC Convenor, Punjab. On the occasion, Mr. JPS Bindra Chief General Manager, NABARD, Punjab Regional Office, Chandigarh presented the highlights of the State Focus Paper in the seminar. The State Focus Paper was released by the Minister.S. Sukhjinder Singh Randhawa on the occasion lauded the efforts of NABARD in preparation of such a structured and comprehensive document, which reflects potential available under each sub-sector of the economy. He appreciated the role of NABARD in development in the State, especially in formation of SHGs, aggregation of farmers by forming FPOs etc. He assured that the State Government would extend every support for realization of credit potential by banks and Government Departments.It is noteworthy that NABARD had projected a credit potential of Rs. 2,27,935 crore during 2019-20 in the State under priority sector. This represents a growth of 5 percent over the projections of 2018-19 of the aggregate credit potential of Rs. 198737 crore. The share of crop loan estimated at Rs. 97577 crore, which represents 43 percent of the total estimated potential. The Sector-wise potentials estimated under agriculture infrastructure (Rs.6490 crore), Agri. Ancillary (Rs. 14963 crore), agriculture term loan (Rs. 23407 crore), MSME loans (Rs. 41129crore), export credit (Rs. 15566 crore), educational loan (Rs. 5995 crore), housing loan (Rs. 14785 crore) in the State Focus Paper.
JPS Bindra, CGM, Head of Punjab RO of NABARD while presenting the highlights of the State Focus Paper 2019-20 mentioned that theme of this year State Focus Paper is kept as “Sustainable agricultural practices”- Sustainable agricultural practices are the need of the hour in view of the climate changes. He also emphasized on the need for capital formation in agriculture and advised the banks and line departments for providing financial assistance to the farmers more for investment activities. Besides, providing refinance assistance to the cooperative banks, RRBs and commercial banks, NABARD is also providing financial support to the State Government for creation of various infrastructure in rural areas of the State. With a view to promoting digital banking in rural areas, NABARD has organized Financial Literacy Programmes, village level programmes and Go Digital Programmes through banks and Government Departments to create awareness among rural people about digital banking and financial literacy. During the year, NABARD has launched Crop Residue Management Progarm-“Prali Bachao Fasal Vadhao” in 4000 villages of the State for creating awareness among villagers about efficient use of land. He appealed to the banks and line departments to work in coordination and tap the credit potentials estimated by NABARD upto maximum so that benefit may accrue to the ultimate farmer/villager.Mrs. Rachna Dixit, Regional Director, RBI appreciated NABARD’s efforts for undertaking financial literacy under Financial Inclusion Fund through a range of activities and also appreciated the platform provided by NABARD where all the important stakeholders join hands to foster new ideas and discuss the goals as envisaged in the State Focus Paper. GM-SLBC Convenor, acknowledged the requirement of being more responsive to the need of financing the long term loan in Agriculture which will pave the way for betterment of the farmers in the state. The forum deliberated on credit potential and infrastructure gap identified in the State Focus Paper besides various other components for upliftment of women and farmers in the state.