Agri Business

Nabard estimates Rs 3,204 cr credit plan for J&K

PTI Jammu | Updated on April 08, 2011

Becoming partner in the infrastructural development and agricultural growth in Jammu and Kashmir, Nabard said it has estimated a potential credit plan of Rs 3,204 crore under the priority sector in 22 districts of J&K for the current financial year.

“To encourage financing to agriculture and rural sector, a potential credit plans of Rs 3,204 crore under priority sector for all 22 districts of J&K had been prepared for the year 2011-12 by Nabard,” Mr M. L. Sukhdeva, Chief General Manager (CGM) of Nabard, told reporters here.

Giving the details, he said that credit plans for agriculture, off farm sector and priority sector is Rs 792 crore, Rs 723 crore and Rs 1,691 crore, respectively.

“A growth of 26.27 per cent in credit has been planned for the current financial year over the last financial year of 2010-11,” he said.

Nabard prepares resource-based potential credit plan for agriculture and allied activities for each district on yearly basis to give direction for development of the district.

This plan is considered as base for annual credit plan to be prepared by banks on yearly basis, he said.

Nabard provides refinance to banks for financing agriculture and allied activities and non-farm activities to encourage lending to these sectors, he said.

During 2010-11, Rs 42 crore has been provided to Regional Rural Banks (RRBs) for financing medium and long term projects and Rs 18 crore for production credit requirements of farmers for cultivation of crops to RRBs.

Published on April 08, 2011

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