The National Bank for Agriculture and Rural Development (Nabard) on Monday projected Karnataka’s credit potential to be Rs 3.59 lakh crore in priority sectors for the 2023-24 fiscal.
This is an 8 per cent increase from the previous year's lending projection, NABARD chief general manager T Ramesh said during the launch of the State Focus Paper 2023-24.
Out of the total estimated credit potential under the priority sector, the share of agriculture and allied activities is Rs.1.79 lakh crore followed by MSME at Rs.1.35 lakh crore and others. According to Ramesh, ground-level credit flow in 2021-22 was "slightly muted" as an aftermath of the Covid-19 pandemic and restructuring of agricultural loans that restricted farmers from availing of fresh credit. However, he expressed optimism in banks achieving ground-level credit flow and even surpassing it during the current fiscal as 43% of the target has already been as on September 30, 2022.
Published 23 January 2023, 17:07 IST