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Karnataka: NABARD projects Karnataka’s credit plan at Rs. 3.32 lakh crore January 13,2022   |  Source: The Hindu

The National Bank for Agriculture and Rural Development (NABARD), Regional Office, Karnataka, has projected the credit potential for the State at Rs. 3,32,915.81 crore for 2022-23.

The credit projection for the agricultural sector was Rs. 1,61,777 crore and for the MSME sector was Rs. 1,28,296 crore, which constituted 49% and 39%, respectively. Speaking at a State credit seminar here on Wednesday, Niraj Kumar Verma, CGM, NABARD, Karnataka, highlighted that Karnataka has been the frontrunner in providing support to banks for credit offtake.

The State Government’s initiative in setting up Centre of Excellence for Farmers Produce Organisations and Farmer Registration and Unified Beneficiary Information System (FRUITS) portal for banks were expected to accelerate lending in the State, he said. Additional Chief Secretary and Development Commissioner Vandita Sharma released the ‘State Focus Paper’ containing total credit projection under priority sector lending for the year 2022-23 in Karnataka.

Ms. Sharma emphasised that banks should step up issue of Kisan Credit Cards to PM KISAN scheme beneficiaries and Kisan Credit Cards for Animal Husbandry and Fisheries sectors and Atmanirbhar schemes. She appealed to all banks to effectively utilise FRUITS portal of the State

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