- NABARD predicts a credit potential of ₹43,297 crore for the priority sector in 2025-26
JAMMU, March 4: Chief Secretary Atal Dulloo emphasized the importance of financial inclusion and tailored credit support for farmers, entrepreneurs, and rural businesses. He urged banks to broaden their reach and ensure that financial schemes are accessible to all.
During the UT Credit Seminar organized by the National Bank for Agriculture and Rural Development (NABARD), the Chief Secretary announced an estimated credit potential of ₹43,297.01 crore for Jammu and Kashmir’s priority sector for the fiscal year 2025-26.
The seminar, which took place in Jammu, was attended by notable figures including Chandrashekhar Azad, Regional Director of the Reserve Bank of India (RBI), Amitava Chatterjee, MD & CEO of J&K Bank, along with other senior government officials and representatives of financial institutions.
In his keynote speech, the Chief Secretary praised NABARD for its effective credit planning and the timely release of the UT Focus Paper, which outlines funding priorities for agriculture, MSMEs, and rural infrastructure.
“The government is dedicated to enhancing financial access across all Panchayats, ensuring that every eligible farmer can benefit from the Kisan Credit Card (KCC) and the Pradhan Mantri Fasal Bima Yojana (PMFBY),” Dulloo stated. He encouraged banks to support timely loan repayments and actively engage in government initiatives such as YUVA, which is focused on fostering entrepreneurship among youth.
Addressing the financing challenges in agriculture, Dulloo stressed the necessity of capital investment in modern farming techniques. He urged banks to implement innovative financial models that assist small and marginal farmers, particularly in areas such as farm mechanization, advanced irrigation, horticulture (including apple, walnut, and saffron cultivation), and post-harvest processing and market linkages.
“Investment in agricultural processing has already yielded positive results, with a 20 percent increase in milk production. The current priority is to blend technology with financial support to further boost productivity,” asserted the Chief Secretary.
He also called for increased banking support for Self Help Groups (SHGs), stating, “Empowering rural women through financial inclusion and micro-enterprise development is essential for driving sustainable economic growth.” He urged NABARD and banks to enhance training and capacity-building initiatives for women entrepreneurs in rural regions.
Beyond agriculture, the Chief Secretary identified tourism as a pivotal factor for the economic growth of Jammu and Kashmir. “With over 2 crore tourists visiting annually, we must invest in infrastructure, connectivity, and sustainable tourism projects,” he remarked. He noted that the government is developing master plans to establish new tourist destinations while improving transport and irrigation facilities to support rural livelihoods.
Acknowledging advancements in financial linkages, Dulloo called for better integration of digital banking and loan disbursement mechanisms to improve transparency. “Common Service Centres (CSCs), online loan processing, and accessible financial touchpoints will make banking services available even in the most remote areas,” he emphasized.
He also highlighted the significance of social security schemes, such as PM Jan Dhan Yojana, PM Jeevan Jyoti Bima Yojana, and PM Suraksha Bima Yojana, in providing financial stability to rural communities.
At the event, the Chief Secretary unveiled a compendium titled “Transforming the Rural Landscape of J&K and Ladakh,” which showcases NABARD’s initiatives in the region, along with a booklet detailing Indicative Unit Costs for Agriculture & Allied Activities (2025-26). These documents serve as vital references for policymakers, financial institutions, and rural entrepreneurs.
The seminar concluded with Vikas Mittal, General Manager of NABARD, delivering the vote of thanks. “With the ongoing support of the UT Government and banking stakeholders, NABARD is committed to achieving the targets set forth by the chief guest,” he affirmed.
The UT Credit Seminar acted as an essential platform for government officials, bankers, and industry experts to collaborate on strategies that enhance rural credit access and stimulate economic growth in Jammu and Kashmir.
