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NABARD, Mizoram Regional Office on Friday organized the State Credit Seminar in Aizawl and Mizoram Chief Minister Lalduhoma attended the event as Chief Guest and released the State Focus Paper 2025-26.
The seminar's Special Guests include Lalnilawma, the Minister of Rural Development, Horticulture, and PHED of the Government of Mizoram; PC Vanlalruata, the Minister of Agriculture and Cooperation of the Government of Mizoram; and T. Lhungdim, the General Manager (OIC) of the Reserve Bank of India. Senior Officials, Senior Bankers from the Banking Fraternity, SLBC coordinators, Lead District Managers(LDMs), and Developmental Agencies, including NGOs, attended the seminar. Pankaja Borah, General Manager(OIC), NABARD, Mizoram Regional Office welcomed the Chief Guest, Special Guests and all the participants and briefed them about the significance of the State Focus Paper in the development planning of the state and emphasised the role of credit along with credit enablers to transform the rural economy. She outlined NABARD's vision for Mizoram and committed to promoting sustainable agriculture and rural development, deepening financial inclusion, accelerating rural infrastructure through innovative and impactful projects, and giving thrust to Agri-MSE in the State. She appealed to the Line Departments and Banks to work in unison to increase lending support to the various sectors to stimulate the rural economy, generate employment and improve farmers` income. T Lhungdim, RBI's General Manager(OIC), highlighted RBI's initiatives for priority sectors and financial inclusion, such as setting up the Centre for Financial Literacy(CFLs), closely monitoring Credit flow to the MSME sector, and building the capacity of Lenders and Borrowers through NAMCABS and Town Hall Meetings. He stated that RBI has raised the limit for collateral-free agricultural loans, including allied activities, from Rs 1.6 lakh to Rs 2 lakh per borrower. This increase accounts for inflation and rising input costs, ensuring farmers have better financial access without needing collateral. The higher loan limit particularly is expected to benefit small and marginal farmers by reducing borrowing costs. It is also expected to boost Kisan Credit Card (KCC) uptake, enabling greater investment in agriculture. The Reserve Bank of India's guidelines on implementing the Lead Bank Scheme clearly delineate the credit planning process and highlight the roles of stakeholders. The guideline also emphasizes monitoring credit plans through various fora such as the Block Level Bankers Committee at the block level, the District Consultative Committee at the district level, and the State Level Bankers Committee at the state level. Lalnilawma, Rural Development, Horticulture and PHED Minister, Government of Mizoram, stressed the need for the development of the Food Processing Sector through developmental interventions like skill development of rural youth, value chain development and agro-based processing in a cluster approach. Food Processing and value addition is necessary as the state lacks cold storage, and agriculture marketing infrastructure such as godowns, warehouses, etc. Efforts may be made to facilitate institutional credit from Banks to support Bamboo Chain Development including its cultivation by farmers. PC Vanlalruata, Agriculture and Cooperation Minister, Government of Mizoram, appreciated the significant contribution of NABARD and the Banking Sector to Agriculture Development and Financial Inclusion in the state. He commended NABARD`s role in developing and strengthening grassroots institutions such as PACS, MPACS, FPOs, etc. He also ensured the speedy implementation of Rural Infrastructure Projects sanctioned by NABARD. On the occasion, Chief Guest Lalduhoma, Mizoram Chief Minister congratulated NABARD for organizing the Seminar and unveiled the State Focus Paper 2025-26. He hoped that the State Focus Paper released today would provide new ideas, suggestions and required Action Points to take forward agriculture and sustainable rural development in the State of Mizoram. He mentioned that over the years, NABARD`s interventions, be it through the assistance in the development of rural infrastructure, promoting micro-enterprise, fostering financial inclusion for the marginalized or implementation of various developmental programs, have brought transformative changes to rural communities. NABARD has also been a critical partner in helping farmers adapt to new agriculture technologies, ensuring better market access and improving the overall quality of life in rural areas. During the Seminar, Amit Sharma shared his views on the Development of the Cooperative Sectors in Mizoram. He indicated that cooperative membership as a percentage of the population is highest in Kerala (77%), followed by Karnataka (50%), while Mizoram has the lowest at just 4%. Under the PACS computerisation scheme, 25 PACS from Mizoram have been selected for computerization in the first phase. So far, all these 25 PACS have achieved Go-Live status. As part of the initiative, all selected PACS were provided with the necessary hardware under the scheme. The seminar included a detailed presentation on the Sub-Sectors of Agriculture, which was followed by an Open House Discussion by the participants. The State Focus Paper 2025-26 projects potentials under different sectors: Agriculture and allied sectors--Rs. 964.45 crore, Micro, Small and Medium Enterprises--Rs. 1471.23 crore, and Other Priority sectors--Rs. 548.90 crore, with an overall assessment of Rs. 2984.59 crore. The Banking Sector in the State is expected to take clues from the potential while framing its Annual Credit Plan for the year 2025-26. (ANI)
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