NABARD stresses on need to increase credit flow for agri, MSME sector
Updated: Nov 28, 2015 03:08:48pm
Puducherry, Nov 28 (KNN) The National Bank for Agriculture and Rural Development (NABARD) has stressed upon the need for increased credit flow aimed at capital formation both in agriculture and MSME sector.
NABARD has pegged the credit potential for the Union Territory at Rs. 2474.73 crore, which represents a 26 per cent increase in growth projections for the current fiscal, reports Hindu.
The Potential Linked Credit Plan for the FY 2016-17 prepared by NABARD was released at a meeting of the State Level Bankers’ Committee (SLBC) here on Saturday.
The priority lending sectors are led by agriculture (44 per cent), MSME (20 per cent), housing (5 per cent) and export credit (4 per cent).
R Mihir Vardhan, Secretary, Agriculture and Tourism released the document by handing over the first copy to Sanjeev Singha, General Manager, Reserve Bank of India , R. Manimaran, General Manager, Indian Bank , S. Parthasarathy, Zonal Manager and convenor, SLBC.
Senior officials from Government Departments and Banks and representatives of banks were present in the meeting.
Commending the efforts taken by NABARD in the preparation of the document, Mr. Mihir Vardhan stressed on the need for increased credit flow aimed at capital formation both in agriculture and MSME sector, the Hindu report added. (KNN Bureau)
NABARD has pegged the credit potential for the Union Territory at Rs. 2474.73 crore, which represents a 26 per cent increase in growth projections for the current fiscal, reports Hindu.
The Potential Linked Credit Plan for the FY 2016-17 prepared by NABARD was released at a meeting of the State Level Bankers’ Committee (SLBC) here on Saturday.
The priority lending sectors are led by agriculture (44 per cent), MSME (20 per cent), housing (5 per cent) and export credit (4 per cent).
R Mihir Vardhan, Secretary, Agriculture and Tourism released the document by handing over the first copy to Sanjeev Singha, General Manager, Reserve Bank of India , R. Manimaran, General Manager, Indian Bank , S. Parthasarathy, Zonal Manager and convenor, SLBC.
Senior officials from Government Departments and Banks and representatives of banks were present in the meeting.
Commending the efforts taken by NABARD in the preparation of the document, Mr. Mihir Vardhan stressed on the need for increased credit flow aimed at capital formation both in agriculture and MSME sector, the Hindu report added. (KNN Bureau)
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