NABARD conducts Credit Seminar in Manipur

Imphal: A State Credit Seminar for 2023-24 was convened by NABARD, Manipur regional office at Hotel Imphal on Thursday to launch the State Focus Paper containing credit potential for Priority Sectors for enhanced credit flow in Manipur for the current financial year.

The seminar was attended by governor La Ganesan as the chief guest. Other dignitaries present in the seminar include P Vaiphei, additional chief secretary; T Lhungdim, DGM, RBI Imphal; Hepuni Bismarck, SLBC convenor; SMD MSRLM; chairman, Manipur Rural Bank; Lead district managers; senior government officials of the state, senior officials of banks operating in the state and representatives from NGOs.

The State Focus Paper 2023-24, which provides a roadmap to bankers for direction and expansion of credit flow in the state of Manipur, was released in the hands of the governor who commended the efforts and initiatives taken by NABARD in the state for Agriculture and Rural Development and for bringing out the State Focus Paper which is an aggregation of Potential Linked Credit Plans (PLPs) for all 16 districts of Manipur.

Ganesan stressed on the need for green and renewable energy for addressing climate change and the need for opening more bank branches in unbanked areas to widen the coverage for better Financial Inclusion.

Vaiphei underscored the relevance of NABARD’s State Focus Paper in providing an outline for banks and government institution to steer their development plans for the state. He highlighted that the priorities of the state is in alignment with GoI’s priorities with focus of government towards Natural Farming and Organic farming. DGM RBI and SLBC convener also spoke on the occasion.

NABARD has projected a total priority sector potential of Rs 2599.02 crore for 2023-24 with Rs1425.77 crore projected for agriculture term loan including an amount of Rs 1087.58 crore for Crop Loan. The credit potential for MSME Sector and Other Priority sector were projected at Rs 713.03 crore and Rs 460.22 crore respectively. The details and rationale behind projections under each sector and initiatives of NABARD in Manipur including investment in infrastructure development were presented by its officers, K S Guite, DGM and Th. Kiran Kumar.

To achieve the potential target, banks were advised by the GM & OIC, NABARD, Guite to make concerted efforts in terms of enhancing and deepening credit flow to grass roots and unreached areas. The government was requested for creating a conducive climate and bridging the infrastructural gaps through state’s budgetary allocation.

During the Seminar, NABARD Manipur RO acknowledged the performance and achievement of Bbnks for 2021-22 under various Priority Sector Lending with an ‘Appreciation Certificate’.