Summary:
A CorrespondentSHILLONG: The National Bank for Agriculture and Rural Development (NABARD) has estimated a credit potential of Rs 2,405.55 crore for the State under priority sector lending for the year 2020-21. The 2020-21 estimation of Rs 2,405.55 crore holds a lot of significance for Meghalaya which has been largely a credit-deficient State with a marginal increase in the credit deposit ratios ranging between 32-37 percent year after year. Major components of 2020-21 SFP are Rs 683.95 crore for crop loans, Rs 489.00 crore for agriculture term loans, Rs 907.49 crore for micro, small and medium enterprises sector and Rs 325.10 crore for other priority sector comprising rural housing and education loans. “Association with various farmers' union/groups, would enable farmers understand various schemes available and the importance of credit to meet their financial needs”, he said. Principal Secretary, Agriculture, Government of Meghalaya, Dr Shakil P Ahammed, indicated that farmers need to be the focal point in all interventions of the State..