NABARD holds state credit seminar

Aizawl, 24th March, 2021: The Minister for Agriculture, Pu C.Lalrinsanga, who also holds the Cooperation portfolio, today, graced the State Credit Seminar, 2020-2021, organized by NABARD at Aijal Club. Pu C.Lalrinsanga also released State Focus Paper (SFP) 2021-2022 for the state of Mizoram.

In his inaugural address, the Minister thanked NABARD for their contribution towards the improvement of livelihoods in rural Mizoram. He said that the Government of Mizoram is diligently working on improving agriculture infrastructure through RIDF, WIF and other central schemes with support from NABARD.  He urged the banking sector to take a deeper plunge in bringing about changes in the state, encouraging them to push the CD ratio from 40% in the previous year to at least 60% in the coming fiscal year. “We need our banks to come forward and finance the FPO’s to set up processing units to generate more income and to speed up the pace for attaining sustainable agriculture” he added.

The Guests of Honour, Pi Mary Deng, General Manager, RBI and Pi Lalmuanpuii, Chairperson, Mizoram Cooperative Apex Bank also spoke on the occasion.

The theme of State Focus Paper (SFP) 2021 is “Collectivization of Agricultural Produce for Enhancing Farmers’ Income” which can contribute to greater production and income in agriculture.  As stated in the SFP, NABARD projects credit potential of Rs. 2003.78 crore for the state of Mizoram for the year 2021-2022, which is 10% higher than the previous year. Of the total sector projection, share of Agriculture and allied services is estimated at 37% while the share of Micro Small and Medium Enterprises (MSME) is 46%.

Agriculture Minister Pu C.Lalrinsanga handed over sanction letters to three Primary Agriculture Cooperation (PACS) namely Champhai LAMPS, Vaphai PACS and Ratu LAMPS. Sanction letters under the new scheme ‘Business model of financing Joint Liability Groups’, were also handed over to the representatives of Vanapa Society and Mizoram Rural Bank.

Today’s State Credit Seminar culminated with a short flagging off ceremony of 7 mobile vans (Rural Marts) for 7 PACS namely Bethel PACS, Khanpui PACS, Rabung PACS, Teikhang PACS, Darlung PACS, Maubuang PACS and Ratu PACS.

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