DFS Secretary Calls for Enhanced Credit Disbursement to Agri-Allied Sectors, Emphasizes Regional Inclusivity

Shri Nagaraju pressed PSBs to intensify their efforts to meet this year’s credit targets for the allied agricultural sectors.

In a recent review meeting led by Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS), Public Sector Banks (PSBs), NABARD, and State/UT Level Bankers’ Committees were urged to accelerate credit disbursement for agri-allied activities, including animal husbandry, dairying, and fisheries. Representatives from various state governments and the departments of Animal Husbandry & Dairying and Fisheries also participated, underscoring the government’s emphasis on inclusive financial support for these sectors.

Urging Banks to Meet Sectoral Targets

Shri Nagaraju pressed PSBs to intensify their efforts to meet this year’s credit targets for the allied agricultural sectors. He also called on state governments to actively support banks in achieving these targets by fostering a favourable environment for credit distribution. The DFS Secretary emphasized the critical role of animal husbandry, dairying, and fisheries in enhancing agricultural growth and creating employment opportunities in rural areas, stressing that increased funding in these sectors is key to bolstering the rural economy.

Addressing Regional Disparities in Credit Flow

Highlighting regional disparities in credit access for allied sectors, Shri Nagaraju directed PSBs to conduct region-specific assessments and convene localized meetings to ensure equitable credit disbursement across all regions. This initiative is part of the government’s larger vision to unlock the untapped potential in agri-allied activities across India’s diverse regions.

Strengthening Credit Access for Fish Farmers

NABARD was directed to coordinate with state line departments and Lead District Managers (LDMs) in identifying eligible fish farmers and ensuring their inclusion in the Kisan Credit Card (KCC) scheme, an initiative aimed at providing affordable credit to small and marginal farmers, including those in the fishing community. The meeting also discussed ways to streamline the KCC process, making it easier for fish farmers to access necessary financial resources.

Focus on Accessible, Affordable Credit for Agri-Allied Growth

The government’s directive reinforces its commitment to enabling seamless access to affordable credit for agri-allied activities, thereby supporting the livelihoods of millions engaged in animal husbandry, dairying, and fisheries. Shri Nagaraju encouraged all stakeholders to collaborate closely and take immediate action to bolster credit flow, particularly in underserved areas, to ensure balanced development in the agri-allied sector.

This push for enhanced credit flow aligns with India’s broader agricultural policy aimed at making the allied sector a powerful driver of rural development and economic stability.