NABARD projects Rs 2.79 lakh cr credit for Punjab's priority sector in FY 2025-26

CHANDIGARH: The state Focus Paper for Punjab for FY2025-26 was launched during the State Credit Seminar organised by NABARD on Friday, according to which a potential of Rs 2.79 lakh crore was estimated for lending towards priority sectors, viz. agriculture, MSMEs, and other priority sector areas such as education, export, housing, and renewable energy, among others.
Around 43% of the credit potential, i.e., Rs 1.20 lakh crore, was identified for the agriculture sector.
Raghunath B, CGM, NABARD, explained in detail the process of preparing the Potential Linked Credit Plan at the district level and its culmination as the State Focus Paper (SFP) at the state level.
He expressed the vision to provide institutional financial services to the smallest actor in the economy.
Varsha Bajpayee, General Manager, RBI, advocated for the diversification of crops for the sustainable development of agriculture in Punjab. She also emphasised the need for financial awareness and literacy, especially among women, who constitute 50 percent of the population, to achieve better income to run their households. She also expressed the need for the digitisation of land records so that everyone is given access to them.
R K Meena, DGM, SLBC Punjab, informed the house about the banking profile of the state and assured the dovetailing of the potential identified by NABARD into the Annual Credit Plan prepared by SLBC.
K S Maya Devi, General Manager, NABARD Haryana, Vinod Kumar Arya, General Manager, NABARD Punjab RO, R K Meena, Deputy General Manager, PNB, SLBC, and other representatives from line departments, banks, and agriculture universities participated in the seminar.