Change in agro-credit approach needed, says Ex-RBI deputy governor Mundra

Attempts must be made to target the entire agricultural value chain financing: Mundra

S S Mundra, former deputy governor of the Reserve Bank of India (RBI), on Tuesday said public sector banks (PSBs) need to take a focused approach towards long-term agricultural credit and attempts must be made to finance the entire agro-value chain if India wants to improve the current state of affairs in this sector.

“Attempts must be made to target the entire agricultural value chain financing, rather than on a solo level. Measures like Kisan Credit Card, agri-insurance, e-connectivity and others are incremental in nature and are not game changers,” Mundra said at the annual general meeting of the Bengal Chamber