Agriculture Ministry Launches BHARAT Campaign for Banks with Rs 7200 Crore Target under Agri Infra Fund

Shri Manoj Ahuja, Secretary of the Ministry of Agriculture & Farmers Welfare, inaugurated a new campaign titled BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation) for banks under the Agri Infra Fund.

During a video conference attended by more than 100 banking executives, including Managing Directors/Chairmen and Executive Directors of commercial banks in the public and private sectors, Regional Rural Banks, Small Finance Banks, NBFCs, and select cooperative banks, the campaign was launched with a target of Rs 7200 crore. The campaign will run for one month, from July 15th, 2023, to August 15th, 2023.

Shri Samuel Praveen Kumar, Joint Secretary (AIF), emphasized the advancements achieved since the initiation of the prominent Agri Infra Fund scheme during the conference. He commended the active involvement and support of banks in promoting the scheme, which has led to the creation of over 31,850 agriculture infrastructure projects across the country. These projects have been financed with a loan amount of Rs 24,750 crore under the Agri Infra Fund, which has a total outlay of Rs 42,000 crore.

Also Read:- Crop Insurance Scheme: Odisha Government Extends CIS for Kharif 2023 to Rabi 2025-26

The participating bank executives expressed their satisfaction with the support provided by the Ministry of Agriculture & Farmers Welfare and the Project Monitoring Unit of the Agri Infra Fund. They also presented several suggestions to further enhance the effectiveness of the scheme.

Secretary Manoj Ahuja commended the outstanding performance of banks across different categories, such as State Bank of India, Canara Bank, Punjab National Bank, HDFC, Kotak Mahindra Bank, Madhya Pradesh Gramin Bank, Madhyanchal Gramin Bank, and Punjab Gramin Bank, for their remarkable contributions to the scheme's progress.

Also Read:- Telangana State Gears Up for Kharif 2023 with Enhanced Preparedness and Implementation of Central Schemes

He encouraged all banks to actively work towards achieving their targets, emphasizing the significant opportunities for agricultural infrastructure projects in the country. Additionally, the banks were advised to conduct on-ground assessments to evaluate the impact of the projects implemented under the scheme.

The BHARAT campaign launched by the Ministry of Agriculture & Farmers Welfare aims to accelerate rural and agricultural transformation by mobilizing substantial financial support from banks. It is expected to further boost the development of crucial agricultural infrastructure across the nation.

Also Read:- NCCF to Sell Freshly Procured Tomatoes at Discounted Prices in Delhi Retail Markets from Today