SHILLONG/NONGPOH: Expressing concern over the consistently low credit-deposit ratio in Meghalaya, Officer-in-Charge of the National Bank for Agriculture and Rural Development (NABARD), YK Rao, on Tuesday said that there was a clear and definite need for the entire banking sector in the state to focus on primary sectors and indicated that Kisan Credit Card (KCC) should be provided to all PM Kisan beneficiaries as the same has now been extended to animal husbandry and fisheries farmers also.
Taking into account the aspect of doubling of farmers income by 2022, credit to farmers, self-help groups, joint liability groups, enrolment in e-shakti portal, terms loans, rural housing, small transport vehicle loans etc., were the need of the hour, he said. NABARD has also estimated a credit potential of Rs 2,405.55 crore for the state under priority sector lending for the year 2020-21, a statement said.
“The 2020-21 estimation of Rs 2,405.55 crore holds a lot of significance for Meghalaya, which has been largely a credit-deficient state with a marginal increase in the credit-deposit ratios ranging between 32-37 per cent year after year. The SFP exercise is a culmination of the credit-planning exercise which begins at the district-level, undertaken by the district development managers of NABARD in close coordination with multiple stakeholders like state government departments, banks, NGOs and farmers groups,” the statement added. Chief Secretary, MS Rao, who launched the 2020-21 State Focus Paper (SFP) for the state, urged the banking sector to rise to the challenges and indicated that the state is yet to make a significant dent through forums like State Credit Seminar. While indicating that re-thinking is required, he suggested that more participation from farmer community should be allowed and interactions should be held with them.
He also congratulated the efforts made by Soil and Water Conservation Department, Shillong, along with NABARD, and suggested that entrepreneurship in agriculture is of paramount importance. The chief secretary also said that credit-fuelled growth narrative has bypassed large chunks of farming communities in the state and that remedial action in this regard is necessary. Major components of 2020-21 SFP are Rs 683.95 crore for crop loans, Rs 489 crore for agriculture term loans, Rs 907.49 crore for micro, small and medium enterprises sector and Rs 325.10 crore for other priority sector comprising rural housing and education loans.
Kurbah asks farmers to avail scheme
Meanwhile, the Deputy Commissioner of Ri Bhoi District, RM Kurbah on Tuesday invited the farmers of Ri Bhoi District to come forward and avail Prime Minister-Kisan Samman Nidhi (PM-Kisan) scheme. Kurbah informed that unlike Kisan Credit Card (KCC), PM-Kisan is a grant which provides support of Rs 6,000 per year in instalments of Rs 2,000 every four months to the farmer families.
The DC also informed that as per available data, there are 10,644 farmers who have already registered under KCC and can take advantage of this scheme, adding that even those who have not yet registered themselves can avail the scheme provided that they have a certificate from the concerned headmen and an EPIC, and get their names enrolled and link to their bank accounts through the Common Service Centres (CSC).
