Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), reviews credit disbursement to agri-allied sector by Public Sector Banks (PSBs)

Shri Nagaraju exhorts PSBs to enhance credit availability for animal husbandry, dairying and fisheries

Shri M. Nagaraju, Secretary, Department of Financial Services (DFS) yesterday reviewed the progress of credit disbursement to agri-allied activities such as animal husbandry, dairying and fisheries with Public Sector Banks (PSBs), NABARD and State/ UT Level Bankers’ Committee. Representatives of State Governments / UTs, Department of Animal Husbandry & Dairying and Department of Fisheries also participated in the discussions.

DFS Secretary urged PSBs to take all necessary steps to ensure that respective targets are met during the current financial year, and stressed on the State Governments to facilitate banks in improving flow of credit to these sectors.

Shri Nagaraju underscored the importance of the allied sector in driving agricultural growth and its employment potential in rural area and highlighted the trend of regional disparity in credit disbursement in allied activities. Shri Nagaraju directed banks to conduct regional level assessment/meetings to ensure disbursement of credit in all areas as all regions have huge potential in allied activities. DFS Secretary also directed NABARD to coordinate with state line departments and LDMs in identification of fish farmers and providing them benefit of KCC scheme.

Shri Nagaraju underlined Government of India’s focus on seamless access to affordable credit to allied sector and urged all stakeholders to take all necessary steps to increase credit flow to the sector.