Bihar, with a credit-deposit ratio of 53.01%, has been classified as one of the states with the lowest CD ratio in the country, according to the National Bank for Agriculture and Rural Development (NABARD). The chief general manager of NABARD, Sunil Kumar, highlighted this during the state credit seminar held in Patna. He also mentioned that 28 out of the 38 districts in Bihar have been classified as ‘credit deficient’ districts, where per capita credit availability is less than Rs 60,000. This situation calls for active efforts from banks, state government departments, institutions like NGOs, and other stakeholders to achieve the financial goals set in the State Focus Paper. The NABARD chief general manager stressed the importance of achieving the targets in the agriculture and allied sectors, as well as the MSME and other priority sectors. He emphasized the need for collaboration and concerted efforts from all parties involved. Chaitanya Prasad, the development commissioner of Bihar, unveiled the State Focus Paper for FY 2024-25 at the seminar. Prasad emphasized the need for credit intensification and specific planning for each sub-sector under agriculture. He highlighted the role of credit in economic development and employment generation in the state. Prasad also addressed the gap in credit availability between different districts in Bihar and emphasized the importance of aligning credit plans with the State Focus Paper. The total credit flow under the priority sector for FY 2024-25 is estimated at Rs 2,43,093 crore, according to a NABARD official. Shiv Om Dixit, the Chief General Manager of State Bank of India, called for cooperation from the state government on issues such as non-performing assets (NPAs), improvement in land records, mutation, and land ownership certificates to promote economic development and private capital investment in the state. The seminar was attended by senior officials from government departments and local heads of banks, and it concluded with a vote of thanks by Sarda Nath, DGM, NABARD.
