The National Bank for Agriculture and Rural Development (NABARD) in Sikkim organised the State Credit Seminar 2024-25 on Friday in Gangtok, with Governor Lakshman Prasad Acharya presiding as the chief guest.
During the event, Governor Acharya released the ‘State Focus Paper: 2024-25,’ a document prepared by NABARD, which outlined an estimated potential credit flow of Rs. 1351.73 crore to the priority sector in the state for the upcoming fiscal year. Additionally, the paper highlighted a potential credit of Rs. 409.64 crore earmarked for agriculture loans, covering farm credit, agri-infrastructure, and agri-ancillary activities.
In his address, Governor Acharya commended NABARD for its diverse developmental interventions, reaching far-flung areas, and aiding the unreached. He praised Team NABARD Sikkim for organising the State Credit Seminar and producing the State Focus Paper. The Governor urged all stakeholders to work towards the welfare of the most needy and poorest individuals.
Governor Acharya elaborated on various schemes launched by the Government of India, emphasising the goal of achieving an Atma Nirbhar Bharat (Self-reliant India). He motivated all participants to strive towards their objectives.
CS Rao, the principal secretary of Tourism, acknowledged NABARD’s role in rural development, SHG development, financial inclusion, and strengthening cooperatives. He emphasised the necessity for increased coordination and collaboration among stakeholders.
Kishore Pariyar, Regional Director of the Reserve Bank of India, Sikkim, expressed his views during the seminar, highlighting the importance of NABARD’s State Focus Paper in setting priority sector credit targets for the state’s bankers.
Sanjay Kumar Gupta, General Manager and OIC of NABARD Sikkim, welcomed the guests and underscored the state’s potential as a growth engine for the country. Gupta emphasised the importance of collaboration and coordination among stakeholders for achieving the state’s development objectives.
Gupta detailed various initiatives undertaken by NABARD in collaboration with multilateral organisations, showcasing the organisation’s efforts in aligning with the State’s position and requirements to meet Sustainable Development Goals (SDG). He noted collaborations with banks and other institutions, such as NDDB, NCDC, APEDA, SOFDA, Spices Board, NERAMAC, for deeper impact.
The seminar included a video presentation showcasing NABARD’s interventions across the state. As part of the ceremony, NABARD Sikkim handed over grants totaling Rs. 43 lakh and releases amounting to Rs. 51.50 lakh to bankers, PACS, trainees, and project partners under ongoing projects.
Beneficiaries of NABARD’s developmental projects, including FPOs, springshed development, TDF projects, and SHGs, shared their experiences and the benefits received from grant assistance-based projects.
During the Sikkim credit seminar, a tri-partite MoU was signed among NABARD, Canara Bank, and Sikkim Cooperative Milk Union in the presence of the Governor. The agreement aims to develop the dairy sector through credit and other support.
Before the seminar’s inauguration, Governor Acharya flagged off the Mobile Marketing Van, provided with grant assistance sanctioned by NABARD to Assam Lingzey Multipurpose Cooperative Society.
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The event was attended by MCP Pradhan, Controller-cum-Secretary of the Finance Department, Secretary of Agriculture and Raj Bhavan, Secretary of Cooperation, Regional Manager of SBI, representatives from Spices Board, Sikkim University, bankers, NABARD’s project implementing partner agencies, and beneficiaries.
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