FM Urges Northeast RRBs to Enhance Ground-Level Agricultural Credit Disbursement

FM Urges Northeast RRBs to Enhance Ground-Level Agricultural Credit Disbursement

Union Finance Minister Nirmala Sitharaman has emphasized the necessity for Regional Rural Banks (RRBs) in the Northeast to significantly increase their share in ground-level agricultural credit disbursement. This initiative is particularly aimed at promoting horticulture and allied agricultural activities such as piggery, poultry, dairy, and fisheries.

In a comprehensive review meeting conducted at the civil secretariat, Sitharaman highlighted the critical role of RRBs in supporting the agricultural sector, which is vital for the region's economy. She urged bank officials to prioritize the identification of appropriate beneficiaries for loans under various central government schemes to ensure that the funds are utilized effectively.

The meeting also focused on several key areas, including the business performance of RRBs, the need to upgrade digital technology services, and strategies for fostering growth in allied agricultural sectors and micro, small, and medium enterprises (MSMEs). Sitharaman underscored that adopting advanced digital solutions can enhance operational efficiency and customer service in the banking sector.

Among the attendees were chairpersons of RRBs and sponsoring banks, representatives from the Reserve Bank of India (RBI), NABARD, and SIDBI, as well as senior officials from the northeastern states. Their collective insights and experiences were deemed crucial for developing actionable strategies that will facilitate better access to credit for farmers and entrepreneurs in the region.

Sitharaman’s call for increased agricultural credit aligns with the government's broader objective of enhancing rural livelihoods and promoting sustainable agricultural practices, reinforcing the vital link between financial support and agricultural development in the Northeast.