J&K Bank contributes 77% of total agricultural lending in J&K: MD

J&K Bank MD Baldev Prakash addressing at India International Agro Trade & Technology Fair at New Delhi.
J&K Bank MD Baldev Prakash addressing at India International Agro Trade & Technology Fair at New Delhi.

Excelsior Correspondent

SRINAGAR, Nov 10: J&K Bank MD and CEO, Baldev Prakash said that the massive push for KCC saturation and efforts to cover all the eligible farmers under the Governments’ nudge have provided a fertile ground for the banks and other stakeholders to take the financial inclusion to next level by using the credit history and data of the farmers for enhanced credit outreach and expeditious delivery.
He made these remarks at India International Agro Trade & Technology Fair – Agro World 2022 – a premier three-day event organised by Indian Chamber of Food and Agriculture (ICFA) at Pusa Campus of Indian Agricultural Research Institute, New Delhi.
Other dignitaries present on the occasion were Secretary, Agricultural & Processed Food Products Export Development Authority (APEDA) Ministry of Commerce & Industry Dr Sudhanshu, Chairman ICFA Dr M J Khan, Co-founder Omnivores Ventures Jinesh Shah, COO National Commodity & Derivatives Exchange Limited (NCDEX) Aleen Mukherjee, President Roman Forum Rome Dr Maharaj Mathoo, Dean Imperial School of Agri Business (ISAB) Dr Rahul Pandey and Vice-Chancellor D Y Patil Univesity Dr Prathapan.
Lauding ICFA to bring the world of agriculture – policymakers, Industry leaders, Summit of states and Global business dialogue, Agri Startups Ecosystem, Agribusiness and FPOs conventions etc – on one platform, Baldev Prakash said, that the integration of farmers to the global best practices – aided by the advanced technologies, better services and farmer-industry partnerships – is the recipe for accelerating the growth.
“J&K Bank, being a major stake holder in the Agri/horticulture-based economy of JK & Ladakh UTs, is also ready to join hands with the Chamber for brainstorming of this scale and vision that I firmly believe is the way forward for doubling the farmers’ income as per the vision of our Prime Minister,” he said.
Speaking on the theme ‘Better Credit Outreach for Better Agriculture’, Baldev Prakash spoke about the leading and pro-active role of J&K Bank in transforming the agro-economy of J&K and Ladakh in terms of financial intermediation critical to ensure the UT’s steady progress towards becoming a rich agricultural economy. “One of the success stories have been the J&K Bank’s transformative Apple Project with farmers’ empowerment at its core that was undertaken on a mission-mode basis across the UT. And with total exposure of Rs 8,944 crores in Agriculture Sector, I feel happy to say that J&K Bank contributes 77 percent of the total agricultural lending in UT of J&K”, he said, adding that there is still a long way to go and this is where such summits can play the role as catalyst.