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Maharashtra has Rs 3.70 lakh cr credit potential under priority sector lending in FY19: Nabard

Mumbai: National Bank for Agriculture and Rural Development (Nabard) said there is a potential of credit disbursement of Rs 3.70 lakh crore under the priority sector lending in the state during the current financial year.

The development finance institution today made a presentation to state's chief minister Devendra Fadnavis on the potential available for different activities under the
priority sector for financial year 2018-19 for the state.

"The aggregate projections of potential linked plans (PLPs) of all the districts in the state reflect an estimated credit flow of Rs 3.70 lakh crore during FY19 for priority sector," Nabard said in the presentation made to Fadnavis.

 Maharashtra has Rs 3.70 lakh cr credit potential under priority sector lending in FY19: Nabard

Representational image. Reuters

This year's projection under priority sector is 10 percent higher than the previous year.

In FY19, the potential for credit flow to the agricultural sector is Rs 93,618.36 crore, while for micro, small and medium enterprises is Rs 1.48 lakh crore. Loans to other priority sectors which includes self-employed, housing to a limit, transport operator and education, among others has a potential of Rs 1.28 lakh crore.

"The credit planning process of Nabard is a bottom-up approach through a consultative process involving all the stakeholders including bankers at the district level. It partners with the state government and bankers, striving to achieve the projections," Nabard's officer-in-charge, M K Srivastava, said.

Fadnavis also released the State Focus Paper 2018-19 and a booklet on area development scheme 2018-2023 for the state.

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Updated Date: May 11, 2018 11:41:04 IST