STATE TIMES NEWS
JAMMU: In a significant boost to inclusive growth and rural development, the National Bank for Agriculture and Rural Development (NABARD) has projected an estimated credit potential of Rs 43,297.01 crore under the priority sector for the Union Territory of Jammu and Kashmir for the financial year 2025-26. The announcement was made during the UT Credit Seminar organized by NABARD on March 4, 2025, in Jammu.
The seminar was presided over by Atal Dulloo, Chief Secretary of Jammu and Kashmir, and attended by Chandrashekhar Azad, Regional Director, Reserve Bank of India, and Amitava Chatterjee, MD & CEO, J&K Bank, along with other distinguished guests.
Welcoming the participants, Bhallamudi Sridhar, Chief General Manager (CGM), NABARD, J&K Regional Office, underscored NABARD’s pivotal role in shaping the development landscape of Jammu and Kashmir. He emphasized the bank’s strategic approach to boosting agricultural credit through meticulous planning, monitoring, and collaboration with multiple stakeholders.
As part of this vision, NABARD will focus on promoting Farmers Producer Organizations (FPOs) and Farmers’ Collectives, enhancing horticulture crops such as walnut, saffron, and apple, and strengthening handloom and handicraft sectors through Off-Farm Producer Organizations (OFPOs), marketing support, and Geographical Indication (GI) registration. Additionally, computerization of Primary Agriculture Cooperative Societies (PACS) is planned to improve efficiency and transparency in rural credit systems.
Delivering his keynote address, Atal Dulloo, Chief Secretary of Jammu and Kashmir, appreciated NABARD’s efforts in assessing credit potential and publishing the UT Focus Paper. He highlighted emerging economic opportunities in agriculture, MSME, and tourism sectors, urging banks to extend their reach to all Panchayats and provide loans to all eligible farmers under the Kisan Credit Card (KCC) scheme. He also stressed the importance of timely repayment of loans and encouraged banks to actively participate in the “YUVA” scheme while ensuring collaboration on infrastructure projects across the Union Territory.
As part of the event, Atal Dulloo released two important NABARD publications. The first, “Transforming the Rural Landscape of J&K and Ladakh”, is a compendium showcasing NABARD’s initiatives in rural development. The second, “Indicative Unit Cost for Investment in Agriculture and Allied Activities for 2025-26”, serves as a comprehensive guide for potential investors in the agriculture and allied sectors of the UT. These booklets are expected to provide valuable insights for policymakers, financial institutions, and aspiring entrepreneurs in rural industries.
The seminar provided a crucial platform for stakeholders to discuss financial inclusivity and economic growth strategies in Jammu and Kashmir. NABARD reaffirmed its commitment to accelerating rural transformation and ensuring sustainable development in the region.
Concluding the event, Vikas Mittal, General Manager, NABARD, expressed gratitude to the UT Government and other stakeholders for their support and assured that NABARD would work diligently to achieve the targets set forth by the Chief Guest.