Finance Ministry Pushes for Enhanced Credit to Agri-Allied Sectors

The Finance Ministry has urged public sector banks to meet loan targets for the agri-allied sector, including animal husbandry and fisheries. The department reviewed progress with stakeholders, emphasizing the importance of regional credit disbursement and collaboration with NABARD for implementing the KCC scheme for fish farmers.

The Finance Ministry has directed public sector banks to achieve their loan targets for the agri-allied sector within the current fiscal year.

During a meeting, Financial Services Secretary M Nagaraju assessed the credit allocation for activities such as animal husbandry, dairying, and fisheries, urging banks to take necessary steps to meet these targets. The meeting included delegates from NABARD, state and UT representatives, and officials from animal husbandry and fisheries departments.

Nagaraju highlighted the importance of equitable credit distribution and instructed regional assessments to maximize disbursement in areas with potential. NABARD is tasked with assisting in fish farmer identification for the KCC scheme.

(With inputs from agencies.)