“Agriculture sector should be considered as an enterprise. The agricultural credit system must respond to the felt needs of the farmers,” said Corporation Bank Chairman and Managing Director B Sambamurthy.
Delivering the key-note address at the silver jubilee celebration of Nabard, he said Indian agriculture needs new investments. It needs productivity enhancing measures, It needs a new wave of entrepreneurship.
Stating that farmers in the country face 32 risks including that of fluctuations in the price, he said unless we mitigate these problems, agriculture in India can not develop.
Mr Sambamurthy said the decline in the growth in agriculture sector is a serious issue, which needs much attention. One of the major challenges will be to reverse the deceleration in agricultural growth. “We have made tremendous progress in IT, BT and knowledge sector. Why we failed to replicate the success in agriculture,” he asked.
He said “there is a need to achieve digital connectivity in rural areas. We need to go beyond the credit delivery system.”
He said all the banks have completed more than 50 per cent of financial inclusion in the State. Corporation  Bank has successfully achieved 100 per cent financial inclusion in Kodagu and Chikmagalur districts. Financial inclusion will bring relief to the people of rural areas.
Syndicate Bank former CMD Dr N K Thingalaya said NABARD has provided a yeomen service to the rural economy.
He said in the next decade, Nabard should act as a regulator of micro finance institutions; mentor of Grameena banks; co-ordinator of district credit plans and harbinger of agricultural prosperity.
Dr Thingalaya said that the micro finance institutions have become sophisticated money lenders in the country. There is a need to put a cap on the interest rate charged by the micro finance institutions.
He said that Nabard should try to rejuvenate and encourage Grameena banks as they are suitable agency for micro finance. District credit plans should become a road map to the economic prosperity of every village, he added.
Regional Training College Principal S G Siddesh said Nabard will implement revival package for the Short Term Co-operative Credit Structure (STCCS) in 11 states. Six more states have already agreed in principal to implement the reform package.
He said Nabard in association with NDDB will be launching National Dairy Plan to support the activities pertaining to milk production, handling, procession and marketing in 325 identified districts in the country.
Mr Siddesh said as part of silver jubilee celebration, Nabard is proposed to launch the ambitious programme of Village Adoption and Total Development (VATD), wherein one village in each of the 400 districts will be adopted. In addition, Lead Bank of the respective district will also be requested to adopt two to three villages.
Bharatiya Vikas Trust Managing Trustee K M Udupa also spoke on the occasion.