Chief Secretary Atal Dulloo urged banks to expand their reach and ensure universal access to financial schemes, emphasizing the critical need for financial inclusion and targeted credit support for farmers, entrepreneurs, and rural businesses in Jammu and Kashmir. His call to action came during a National Bank for Agriculture and Rural Development (NABARD) Credit Seminar in Jammu, where NABARD unveiled a projected ₹43,297.01 crore credit potential for the region’s priority sector in 2025-26.
The seminar, attended by key figures from the Reserve Bank of India (RBI), J&K Bank, and government departments, highlighted the government’s commitment to boosting rural economies. Dulloo praised NABARD’s timely release of the UT Focus Paper, which outlines funding priorities for agriculture, MSMEs, and rural infrastructure.
“We are dedicated to ensuring financial access across all Panchayats, with every eligible farmer benefiting from schemes like the Kisan Credit Card and Pradhan Mantri Fasal Bima Yojana,” Dulloo stated. He encouraged banks to promote timely loan repayments and actively support government initiatives like YUVA, designed to foster youth entrepreneurship.
Addressing challenges in agricultural financing, Dulloo stressed the need for capital investment in modern farming techniques. He called on banks to develop innovative financial models that support small and marginal farmers in areas such as farm mechanization, modern irrigation, horticulture expansion (including apple, walnut, and saffron cultivation), and post-harvest processing and market linkages.
“Investments in agricultural processing are already yielding positive results, with milk production increasing by 20 percent. We must integrate technology and financial support to further enhance productivity,” he asserted.
Dulloo also emphasized the importance of empowering rural women through Self Help Groups (SHGs), urging NABARD and banks to intensify training and capacity-building efforts. He highlighted tourism as a key economic driver, calling for investments in infrastructure, connectivity, and sustainable tourism projects.
To enhance transparency and efficiency, Dulloo advocated for greater integration of digital banking and loan disbursement mechanisms, utilizing Common Service Centres (CSCs) and online loan processing to reach remote areas. He also underscored the importance of social security schemes like PM Jan Dhan Yojana in providing financial stability to rural populations.
During the seminar, Dulloo released “Transforming the Rural Landscape of J&K and Ladakh,” a compendium showcasing NABARD’s regional interventions, and a booklet on Indicative Unit Costs for Agriculture & Allied Activities (2025-26).
Vikas Mittal, General Manager of NABARD, concluded the event with a vote of thanks, reaffirming NABARD’s commitment to achieving the targets outlined by the Chief Secretary, with the continued support of the UT Government and banking stakeholders. The seminar served as a crucial platform for collaboration on strategies to strengthen rural credit access and drive economic growth in Jammu and Kashmir.
