Nabard projects Rs 2,43,093 crore credit potential for Bihar in 2024-25

The estimate has been made taking into account the Reserve Bank of India's priority sector-based guidelines

The National Bank for Agriculture and Rural Development (NABARD) has projected Rs 2,43,093 crore credit potential for Bihar in 2024-25.

The likely estimate has been made taking into account the Reserve Bank of India's priority sector-based guidelines, Central and state government policies and policies for sustainable agriculture and rural development.

The State Focus Paper 2024-25 for Bihar, a compilation of the assessed credit flow for all 38 districts of the state was unveiled by Development Commissioner Chaitanya Prasad at NABARD's credit seminar here on Tuesday. The total credit flow under the priority sector for the year 2024-25 is estimated at Rs 2,43,093 crore.

Prasad said, "There is a need for credit intensification through specific planning for each of the sub-sectors under agriculture in the state. Credit plays an important role in economic development and employment generation in the state".

Chief General Manager, NABARD, Sunil Kumar said that as on March 31, 2023, "Bihar with a CD ratio of 53.01 per cent is classified as one of the states with the lowest CD Ratio. Twenty-eight out of 38 districts in the state have been classified as credit deficient districts, where per capita credit availability is less than Rs 6000".

Kumar urged banks to remain committed to achieve the target suggested in the State Focus Paper in agriculture and allied sector as well as MSME and other priority sectors.

Principal Secretary, Finance, Arvind Kumar Chaudhary said that the CD ratio of the state has increased over the years. He expressed concern over the fact that Kisan Credit Card coverage in Bihar is still limited to 25 per cent land holding.