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Agri NPAs Plummet to Single Digits
10 Sep
Summary
- Agriculture NPAs have fallen to single digits from double digits.
- Boosting crop productivity and credit facilities will improve NPAs.
- Agri Stack framework aids on-demand Kisan Credit Card loans.
Non-performing assets (NPAs) within India's agriculture sector have seen a substantial decline, moving from double digits to single digits. Nabard Chairman Shaji Krishnan V. announced this development, emphasizing that continued enhancement of farmer credit facilities and boosting crop productivity are key to driving further positive changes.
Krishnan V. highlighted that accelerating the agriculture sector's growth, currently around 3.5 percent, is vital for achieving the 'Viksit Bharat' ambition. He explained that an Agri Stack, a three-layer foundational framework comprising identification, land, and agriculture activity layers, is being developed. This initiative, integrated with India Stack, powers an on-demand loan origination system for Kisan Credit Card loans benefiting approximately 7.5 crore farmers.
