NABARD projects ₹2,106 cr credit potential for Nagaland in priority sector.

The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of ₹2,106.34 crore for Nagaland under priority sector activities for 2025-26. The projection was unveiled in the State Focus Paper (SFP), released by Advisor for Agriculture Mhathung Yanthan during a NABARD seminar on Tuesday.

According to the SFP, the credit allocation includes ₹712 crore for agriculture, ₹968 crore for MSMEs, and ₹425 crore for other sectors. The paper provides a comprehensive assessment of the state’s credit needs, guiding financial institutions in channeling funds effectively towards agriculture, rural development, and infrastructure projects, said NABARD General Manager Pauliankap Bulte.

Bulte emphasized the need for banks to extend credit to Farmer Producer Organisations (FPOs) and strengthen Primary Agricultural Credit Societies (PACS), particularly those selected for computerisation under a central project. He also called for fast-tracking Kisan Credit Card (KCC) coverage, with a special focus on animal husbandry and fisheries.

“The state must prioritise agriculture, irrigation, horticulture, and food processing, as these sectors have the potential to transform Nagaland’s economy,” Bulte said.

In his address, Advisor Yanthan lauded Nagaland for exceeding its Ground Level Credit (GLC) target for the priority sector in the previous financial year. He urged the State Level Bankers’ Committee (SLBC) to take proactive steps in establishing bank branches in 22 unbanked rural development blocks, enhancing financial inclusion across the state.

HBL