Bajwa urges NABARD to make its credit norms suitable to Punjab

Bajwa urges NABARD to make its credit norms suitable to Punjab

Agency News

Chandigarh, Feb 12 : Punjab Rural Development and Panchayat Minister Tript Rajinder Singh Bajwa on Wednesday urged NABARD to make policies, programs and guidelines according to the specific needs of the states. Mr Bajwa also emphasised that NABARD should make its credit norms suitable to Punjab, which has needs to develop existing basic infrastructure.

NABARD held the State Credit Seminar for 2020-21 with the Credit Potential of Rs 2,30,664.81 crore for the state of Punjab. Mr Bajwa also released the State Focus Paper for the year 2021-22 prepared by NABARD in the State Credit Seminar held here on Wednesday. NABARD has projected a credit flow of Rs 2,30,664.81 crore during 2020-21 in Punjab under Priority Sector Lending, as per the revised norms outlined by the Reserve Bank of India. Of the aggregate credit plan, the share of Crop Loan is pegged at Rs 98,211.12 crore (43 per cent of total), Agriculture Term Loan at Rs 23,899.46 crore (10 per cent), MSME at Rs 42,091.60 crore (18 per cent), Agricultural Ancillary activities at Rs 15,002.60 crore (7 per cent) and Agriculture Infrastructure at Rs 6,580.58 crore (3 per cent). Mr Bajwa lauded the efforts of NABARD in preparation of such a structured and comprehensive document, which reflects the potential available under each sub-sector of the state rural economy.(UNI)