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States » EastPosted at: Mar 25 2025 8:58PM


Manipur CS asks banks to contribute to state’s growth

Imphal, Mar 25 (UNI) Manipur Chief Secretary Prashant Kumar Singh urged banks and financial institutions to act swiftly in meeting their targets and ensuring credit accessibility.
He encouraged State Bank of India and other banks to continue their efforts in securing future recognition for their contributions to Manipur’s economic development.
He also commended NABARD for its significant contributions to the state’s financial and rural development.
Singh acknowledged the challenges facing Manipur and emphasized the collective responsibility in restoring normalcy and progress. The National Bank for Agriculture and Rural Development (NABARD), Manipur Regional Office, conducted the State Credit Seminar 2025 here on Tuesday.
The seminar marked the launch of the State Focus Paper 2025-26, which outlines the credit potential and financial planning for the state’s rural development, which Singh addressed.
He expressed appreciation for NABARD’s efforts in providing a platform for discussion and strategic planning, noting that the State Focus Paper 2025-26, which estimates a credit potential of Rs. 3,279 crore, serves as the foundation for financial planning in the state.
Partha Mandal, General Manager and Officer-in-Charge of NABARD, Manipur Regional Office, highlighted NABARD’s role in state-level credit planning, consolidating district-level Potential Linked Plans (PLPs) into the Annual Credit Plan (ACP).
For 2025-26, Manipur’s credit potential stands at Rs. 3,279 crore, marking an 11 percent increase over the previous year, with 48 percent allocated to agriculture, 39 percent to MSMEs, and 13 percent to other priority sectors. He also announced the digital transformation of the State Focus Paper to enhance accessibility and data standardization.
Mandal pointed out key focus areas, including support for Farmer Producer Companies (FPCs), expansion of Kisan Credit Cards (KCC), strengthening of Primary Agricultural Credit Societies (PACS), and implementation of schemes like PMFME and Kisan Sampada Yojana. He also stressed the importance of cooperative sector reforms, mentioning the PACS Computerization Project, under which 232 PACS in Manipur are being digitized to improve efficiency and financial management.
Bendang Aier, Deputy General Manager, NABARD, presented key insights from the State Focus Paper (SFP) 2025-26, emphasizing economic trends, agricultural challenges, and potential growth areas. He expressed concerns regarding low agricultural productivity, as 26.3 percent of the state’s GDP comes from agriculture, despite a majority of the population being dependent on the sector.
The best-performing banks for their contributions to financial inclusion, rural credit expansion, and social security initiatives were felicitated at the function. Manipur Rural Bank received the Best Performer Bank Award under the Kisan Credit Card (KCC) category, Manipur State Cooperative Bank for its excellence in KCC for Animal Husbandry and Fishery, and Manipur Rural Bank for its achievements in the SHG Bank Linkage Programme. State Bank of India received the award for Best Performer under the Social Security Scheme.
A video on financial inclusion was also showcased during the seminar to highlight NABARD’s initiatives and impact on rural development.

UNI NS BD
Tags: #Manipur CS asks banks to contribute to state’s growth
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