National Bank for Agriculture and Rural Development (NABARD), Sikkim, organised the State Credit Seminar 2024-25 for the state of Sikkim on 23^rd February, 2024 at Gangtok. Governor of Sikkim, Shri Lakshman Prasad Acharya graced the occasion as Chief Guest.

Shri Lakshman Prasad Acharya, Governor, Sikkim released the ‘State Focus Paper: 2024-25 prepared by NABARD on the occasion of ‘State Credit Seminar’. The document estimated a potential of Rs.1351.73 crore for credit flow to the priority sector in the state for the year 2024-25. The document also estimated a potential of Rs. 409.64 crore towards agriculture loans covering farm credit, agri infrastructure and agri ancillary activities.

The Governor appreciated NABARD’s contribution to the state through a diverse range of developmental interventions and in reaching out of the far flung areas and the unreached. Shri Acharya also congratulated Team NABARD Sikkim for bringing out the State Focus Paper and organizing the State Credit Seminar. The Governor urged all to work for the welfare for the most needy/poorest person. Shri Acharya elucidated various schemes launched by Government of India to achieve the objective of Atma Nirbhar Bharat. He also motivated all the stakeholders to achieve their objectives.

Shri C S Rao, Principal Secretary, Tourism and Civil aviation Deptt, GoS appreciated the role of NABARD in various areas such as rural development, SHG development, financial inclusion, strengthening of cooperatives, etc. He also stressed upon the need for more coordination and collaboration among the stakeholders. Other dignitaries viz Shri Kishore Pariyar, Regional Director, Reserve Bank of India, Sikkim, expressed his views in the Seminar and highlighted the importance of NABARD’s State Focus Paper in fixing the priority sector credit target for bankers of the state.

Earlier during the program, Shri Sanjay Kumar Gupta, General Manager and OIC, NABARD Sikkim welcomed the guests and highlighted the potential of the state as the growth engine of the country. He stressed upon the importance of collaboration and coordination among the stakeholder for achieving the development objectives of the state. He elucidated various initiatives undertaken by NABARD in collaboration with multilateral organizations. He said that NABARD had initiated dialogue with various departments of Government of Sikkim, viz, tourism, forest & environment, Commerce & Industry (MSME), animal husbandry, horticulture and cooperation, mainly keeping in view the State’s position and further requirements to enable the State meet the SDG goals and that NABARD was also collaborating with Banks and other stakeholder institutions viz NDDB, NCDC, APEDA, SOFDA, Spices Board, NERAMAC, etc. for driving deeper impacts.He also underlined various developmental initiatives undertaken by NABARD in the state in areas such as skill development, development of border villages, strengthening of cooperatives, financial inclusion, marketing of SHG products etc.

During the course of the event, a video highlighting various interventions of NABARD across the state was displayed. Continuing its tradition of ceremonial handing over of letters of new sanctions and releases under ongoing projects, NABARD Sikkim handed over grants of a total amount of Rs. 43 lakh and releases amounting to Rs. 51.50 lakh to bankers/PACS/trainees/project partners. A few beneficiaries of NABARD’s developmental projects viz FPOs, springshed development, TDF projects, SHGs etc., coming from various districts of State narrated their experiences of benefits received out of such grant assistance based projects. In the Seminar, a tripartite MoU amongst NABARD, Canara Bank and Sikkim Cooperative Milk Union was also executed in the august presence of Hon’ble Governor, aimed at developing the dairy sector through credit and other support.

Prior to the inauguration of the seminar, the Governor flagged off Mobile Marketing Van provided out of grant assistance sanctioned by NABARD to Assam Lingzey MPCS.

The event was also attended by Shri M C P Pradhan, Controller cum Secretary, Finance Deptt., GoS , Shri Kishore Pariyar, Regional Director, RBI Sikkim, Secretary, Agriculture and Raj Bhavan, Secretary, Cooperation, Regional Manager, SBI, representatives from Spices Board, Sikkim University, bankers, NABARD’s project implementing partner agencies and beneficiaries.

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