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Agriculture Ministry launches new campaign for banks under Agri Infra Fund with a target of 7,200 crore

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13 July 2023, New Delhi: Manoj Ahuja, Agriculture Secretary of the Ministry of Agriculture yesterday launched a new campaign for banks under Agri Infra Fund titled BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation). This one month-long Campaign launch (15th July 2023 to 15th August 2023) with a target of Rs 7,200 crore was attended by more than 100 Banking Executives that included MDs/Chairman, EDs of Commercial Banks in the public and private sector, Regional Rural Banks, Small Finance Banks, NBFCs and select cooperative Banks.

While addressing the gathering of Bank Executives and Ministry Officials, Samuel Praveen Kumar, Joint Secretary (AIF) highlighted the progress made since the inception of this ambitious flagship Scheme. In his welcome address, he complimented the Banks for their active involvement and support to promote this Scheme which has resulted in the creation of more than 31,850 agri infra projects in the country with ₹24,750 crore as loan amount under AIF with an outlay of ₹ 42,000 crores.

Expressing satisfaction at the support from the Ministry of Agriculture and Project Monitoring Unit of AIF, participating executives from Banks came up with many suggestions to take the AIF scheme to newer heights.

Manoj Ahuja congratulated the top performing Banks in different categories, namely 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 laudable effort in contributing to taking this scheme forward and appealed to all the Banks to achieve targets considering the vast potential for agri infra projects in our country. The Banks were also advised to assess the impact of the projects created under the scheme at ground level.

Also Read: Excessive use of nutrients in agriculture in an unbalanced manner has led to reduced soil fertility: Dr. Mansukh Mandaviya

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