NABARD : The banking sector will take an active role in meeting the credit targets.
The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of Rs 3.14 lakh crore for Haryana in 2025-26, marking a 37.64% increase compared to the previous year, with a focus on priority sector lending. The credit potential is divided among agriculture (35.60%), MSMEs (57.12%), and other sectors, including education and renewable energy (7.28%). The State Focus Paper (SFP) was unveiled by Haryana Chief Secretary Dr. Vivek Joshi during the State Credit Seminar for 2025-26.
In his address, the Chief Secretary praised NABARD for assessing the state’s credit potential across sectors such as agriculture, MSMEs, exports, education, and renewable energy, aligning with the government’s goals of farmer welfare and rural development. He emphasized initiatives like crop diversification, climate-resilient agriculture, shrimp farming, and vegetable clusters, urging stakeholders—including banks, government departments, NABARD, SLBC, and academic institutions—to collaborate and create more employment opportunities in rural areas.
Dr. Joshi stated that the State Focus Paper would serve as a guiding document for strengthening the rural economy and furthering Haryana’s legacy in agriculture. He acknowledged challenges such as depleting groundwater, fragmented landholdings, and climate change, which require innovative solutions. He stressed the need for enhancing farm productivity, promoting crop diversification, and ensuring that all eligible farmers are covered by the Kisan Credit Card (KCC) scheme. Additionally, he called for the digitization of the KCC process, as seen in states like Madhya Pradesh and Tamil Nadu.
To improve transparency and efficiency, the central government has launched the PACS computerization project, with 710 PACS in Haryana being covered. NABARD is also working on digitizing Agriculture Rural Development Banks, including HSCARDB and 19 DPCARDBs, while advancing the M-PACS scheme. Dr. Joshi praised the RBI’s role in supporting agricultural growth, rural development, and financial inclusion in Haryana.
He reaffirmed the Haryana Government’s alignment with NABARD’s vision, citing active implementation of programs like micro-irrigation, financial literacy campaigns, and digital initiatives aimed at increasing credit access and market connectivity. The Chief Secretary urged the banking sector to play an active role in meeting credit targets for priority sectors, ensuring that underserved regions and communities are not neglected.
Smt. Nivedita Tiwary, Chief General Manager, explained the consultative process that led to the Rs 3.14 lakh crore credit potential estimate, incorporating the potential from all 22 districts of Haryana. She emphasized the importance of aligning district credit plans with NABARD’s calculations and reiterated NABARD’s commitment to addressing challenges in Haryana’s agricultural and rural sectors through sustainable solutions. Financial inclusion remains central to these efforts, particularly through the computerization of PACS and the expansion of mobile ATMs and Business Correspondents (BCs) to enhance digital literacy and financial access in rural areas.
Following the seminar, Dr. Joshi toured an exhibition organized by NABARD. Senior officials from the RBI, banks, state government, and academic institutions also attended the event.