GANGTOK: Sikkim Chief Minister PS Golay released the State Focus Paper 2023-24 prepared by NABARD on Wednesday.
The Focus Paper estimated a potential of Rs.958.565 crore for credit flow to the priority sector in Sikkim for the year 2023-24.
The document also estimated a potential of Rs.370.66 crore towards agriculture loans covering farm credit, agri-infrastructure and agri-ancillary activities.
The NABARD Sikkim document was released during the State Credit Seminar held at Gangtok.
In his address, Sikkim Chief Minister appreciated the efforts of NABARD and mentioned how it has been working tirelessly for the development of the State implementing several developmental schemes in favour of the people of the state.
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Emphasizing the need for Sikkimese entrepreneurs to take advantage of all the assistance provided by the banks and the government, Golay highlighted how some of the schemes go waste as the people either fear to take the loans or misuse the money taken from the banks.
Sikkim CM also urged the bankers to simplify and make the loan process hassle-free and make concerted efforts to translate the exploitable potential into bankable projects. He further stressed that local laws should be kept in mind by the banks when they realize their dues from wilful defaulters.
He also handed over sanction letters of various developmental projects worth Rs 1.62 crore distributed among SHGs, FPOs and MPCS across the state.