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The National Bank for Agriculture and Rural Development (NABARD) has outlined a credit potential of Rs 2,43,093 crore for Bihar in 2024-25. This projection is based on a thorough assessment considering guidelines from the Reserve Bank of India pertaining to priority sectors and policies from both Central and state governments aimed at fostering sustainable agriculture and rural development.

The unveiling of the State Focus Paper 2024-25 for Bihar, detailing credit estimations across all 38 districts, took place during NABARD’s recent credit seminar. Development Commissioner Chaitanya Prasad disclosed that the projected total credit flow under the priority sector for the specified period is approximately Rs 2,43,093 crore.

Highlighting the significance of credit in driving economic growth and employment opportunities within the state, Prasad emphasized the necessity for tailored planning to intensify credit accessibility across various agricultural sub-sectors.

Sunil Kumar, Chief General Manager at NABARD, underscored Bihar’s current credit landscape, noting a modest Credit-Deposit (CD) ratio of 53.01% as of March 31, 2023. He pointed out that 28 out of Bihar’s 38 districts are categorized as credit deficient, with per capita credit availability falling below Rs 6000 in these areas.

Kumar urged banking institutions to remain steadfast in their commitment to achieving the targets outlined in the State Focus Paper, particularly in agriculture, allied sectors, Micro, Small, and Medium Enterprises (MSMEs), and other priority sectors.

In response, Arvind Kumar Chaudhary, Principal Secretary of Finance, acknowledged the gradual improvement in Bihar‘s CD ratio over time. However, he expressed apprehension regarding the limited coverage of Kisan Credit Cards, which are currently restricted to only 25% of landholding within the state.

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