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Nabard’s State Focus Paper is a milestone for the development of Karnataka: Credit projection of Rs 3.32 lakh Cr for FY 2022-23

NABARD Projects Credit Potential of Rs3,32,915.81 Cr for Karnataka

Addl CS Vandita Sharma releases State Focus Paper with a credit projection of Rs 3.32 lakh Cr under priority sector for this fiscal

Bangalore: The State Credit Seminar was held at Hotel Radisson Blu on Wednesday under the auspices of NABARD. The chief guest for this seminar was Mrs. Vandita Sharma Additional CS & DC the Government of Karnataka has released the State Focus Paper (SFP) of the State Government of Karnataka with a total credit projection of Rs. 3.32 lakh crore under Priority Sector Loans for the year 2022-23.

The occasion was graced by Shri Rakesh Singh, IAS, Additional Chief Secretary, Water Resources Dept., Shri S RUmashankar, IAS, Principal Secretary, Cooperation & Agriculture Departmentwere present during the occasion.

Other dignitaries present during the occasion were Shri S Ziyaullah, IAS, RCS,Dr M V Venkatesh, IAS, Commissioner, Watershed Development Department,DrManojRajan, IFS, MD, ReMS, Shri Nand Kishore, CGM, SBI and Shri DebanandaSahoo, CGM, Canara bank, Shri R Sudeep, General Manager, RBI, Shri P C Damodaran, Deputy General Manager, SLBC.  Senior officers of government of Karnataka and state heads of leading banks operating in the State attended the seminar.

Smt. Vandita Sharma, IAS, ACS & DC, complimented the efforts of NABARD in preparing the district wise Potential Linked Credit Plans and aggregating into State Focus Paper. She also highlighted the joint efforts taken by NABARD and Government of Karnataka on formation and nurturing of Farmer Producer Organizations (FPOs) in the State.

She expressed confidence that in the coming years, the coordinated efforts of NABARD, Centre of Excellence (CoE) promoted by GoK, Agriculture Universities, KVKs and government departments may bring transformation in functioning of FPOs and make a significant contribution in agri value chain and supply chain.

She also emphasized  banks  shall step up issue of KCCs to PM KISAN scheme beneficiaries, as also KCCs for Animal Husbandry and Fisheries sectors and Atmanirbhar schemes such as Agriculture Infrastructure Fund (AIF), Prime Minister Formalization of Micro Food Enterprises (PMFME) scheme and PM MatsyaSampadaYojana. She appealed to all Banks to affectively utilise FRUITS portal of the State Government for faster and hassle-free credit dispensation.

Shri Niraj Kumar Verma, CGM, NABARD indicated that the total credit projection of Rs3,32,915.81 Crore was the aggregation of Credit Plan (Potential Linked Credit Plans -PLPs) prepared by NABARD for all Districts in Karnataka.  The share of credit projection for agriculture was 49% at Rs1,61,777 Crore and that for MSME Sector was 39%atRs 1,28,296 Crore.

He highlighted that Karnataka State has been the front-runner in providing support to Banks for credit offtake. The GoK initiatives of setting up Centre of Excellence for FPOs, developing FRUITS portal for banks etcwere expected to motivate banks to accelerate lending in the State.

Banks have also contributed to the development of the State as the Priority Sector lending of all sectors continued to register growth in all 3 previous years despite pandemic situation. He expressed confidence that keeping in view the growth trend in GLC, the SFP projection will be achieved during 2022-23.

The CGMs of SBI and Canara Bank and GM, SLBC complimented the efforts of NABARD in preparing the PLPs for Districts and aggregating to SFP and the projections will be accounted while preparing the Annual Credit Plan for the Districts for the year 2022-23 and all efforts will be made to surpass the projections.





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