The apex body monitoring rural credit in the country, Nabard also came in for sharp review by Union Minister Amit Shah during his speech at the conference of Agriculture & Rural Co-op Development Banks in Delhi on Saturday.
Reminding Nabard of its original aim which was to enhance rural credit for creating a prosperous rural India, Shah said that we seem to have got lost in the banking humdrum, forgetting our target.
In the last fifty years, it is sad that the share of long-term credit has come down from 50% to 25%. The loaning has simply failed to keep pace with the growth of the agri sector and this is something we must brainstorm on, underlined the Minister.
G R Chintala, Chairman of Nabard who was sitting in the audience heard the minister with rapt attention.
Shah concluded saying NABARD should set up a separate wing for Extension and Expansion of rural credit through ARDBs to achieve its goals. He also promised to meet NABARD and NAFCARD soon to boost the flow of rural credit.
