Economy

Nabard projects ₹9.38 lakh crore credit potential for TN under priority sector in FY26

The National Bank for Agriculture and Rural Development (Nabard) has projected a credit potential of ₹9.38 lakh crore under the priority sector for Tamil Nadu in 2025-26, marking a 12.41 per cent increase from the previous year.

This was indicated during the State Credit Seminar organised by Nabard, which was chaired by Tamil Nadu Finance Minister Thangam Thennarasu.

The event, attended by senior bankers, government officials and industry experts, witnessed the unveiling of the ‘State Focus Paper for 2025-26.’ The report highlighted that agriculture would account for 46 per cent of the total credit projection, while the Micro, Small, and Medium Enterprises (MSME) sector is expected to contribute approximately 37 per cent, reflecting rising credit demand in these areas

rural infra

Lauding Nabard’s role in shaping the state’s credit potential, Thennarasu highlighted Nabard’s significant contribution of ₹31,887 crore towards rural infrastructure, which has facilitated irrigation for over 41.50 lakh hectares, constructed 52,820 km of rural roads, and funded drinking water projects, among other developments.

R Anand, Chief General Manager of Nabard’s Tamil Nadu Regional Office, highlighted Nabard’s focus areas such as agriculture, agri-tech, financial inclusion, microfinance, and tribal welfare.

Chief Secretary of Tamil Nadu N Muruganandam, urged banks to ensure equitable credit distribution, particularly to small and marginal farmers. He also called for greater attention to tribal development initiatives.

The seminar also featured speeches by Uma Sankar, Regional Director, Reserve Bank of India, Binod Kumar, MD & CEO, Indian Bank and Ajay Kumar Shrivastava, MD & CEO, Indian Overseas Bank. Senior state officials, including J Radhakrishnan, Additional Chief Secretary and T Udhayachandran, Principal Secretary – Finance also attended the seminar, according to a statement.



Source link

creativebharatgroup@gmail.com

About Author

Leave a comment

Your email address will not be published. Required fields are marked *

You may also like

Economy

Direct flights open up new overseas destinations, Indian arrivals rise in double digits

Last year, IndiGo operated its maiden flights to Central Asia. It was an uncharted territory for the airline but with the
Economy

MHI to consult with Ministry of Health again for guidelines on e-ambulances

The Ministry of Heavy Industries (MHI) is in consultation with Ministry of Health and Family Welfare for electric ambulances to