Urgent need to transition from Agriculture to Agribusiness for growth of Agri- Economy- Baldev Parkash

Continuing its efforts to strengthen the agricultural sector and empower Farmer Producer Organizations (FPOs), J&K Bank today conducted second workshop in Jammu to educate farmers on the various credit schemes available with the banks. The workshop also focused on the process of creating credit linkages for FPOs to ensure better access to financial services.

Representatives from more than Sixty FPOs from Jammu Division participated in the event, which was aimed at enhancing their financial literacy and facilitating greater access to credit.
MD & CEO Baldev Prakash chaired the workshop in presence of General Manager (NABARD) Vikas Mittal, Director Horticulture C L Sharma, MD JKRLM Shubhra Sharma, Bank’s General Manager (Credit) Ashutosh Sareen, General Manager & Divisional Head (Jammu) Sunit Kumar, Deputy General Manager Rakesh Magotra, LDMs, DDM’s NABARD, and other senior officers of the Bank & Agriculture department.

Speaking on the occasion, MD & CEO Baldev Prakash said,” The Hon’ble Prime Minister’s vision of doubling farmers’ income laid the foundation for a transformative shift in Indian agriculture, focusing on improving productivity, reducing input costs and enhancing market access. This visionary goal has not only driven innovations in farming practices but also expanded the scope of agri-business, with a strong emphasis on value addition, infrastructure development and financial inclusion”.

He added,” I think now is the best time for the agriculture sector with proactive support from the Government of Jammu & Kashmir under schemes like the Holistic Agriculture Development Programme (HADP) and support for Farmer Producer Organizations (FPOs), there is a golden opportunity for farmers to thrive. The convergence of modern technology, enhanced credit accessibility and robust government initiatives makes this the ideal time to engage in scaling up of agriculture and horticulture-related activities. The focus on creating a sustainable, growth-oriented agricultural ecosystem in Jammu & Kashmir is ensuring that farmers are well-equipped to capitalize on emerging opportunities, paving the way for a prosperous future in this sector”.

J&K Bank, he said, is here to ensure that your efforts are recognized, while challenges are addressed and potential is fully realized. “Together, we can achieve the vision of a thriving, sustainable agricultural economy where our farmers stand empowered and resilient”, he added.

In his remarks, GM NABARD highlighted the importance of FPOs in enhancing agricultural productivity and ensuring that farmers can collectively access financial services. “Our partnership with J&K Bank is aimed at empowering FPOs with the knowledge and tools they need to succeed. By deepening financial inclusion and creating effective credit linkages, we can ensure that farmers receive the necessary support to improve their livelihoods.”
Assuring the participants on the occasion, General Manager Ashutosh Sareen said that JK Bank is fully committed to supporting FPOs in their journey. “As the primary institution of this region, we understand that access to credit is a key enabler in making these initiatives successful”, he said.

Bank’s efforts, he added, have been aligned with the needs of farmers and the Bank is continuously working to design financial products that meet the unique requirements of FPOs, whether it’s working capital, term loans or infrastructure support.

“In collaboration with NABARD and other stakeholders, we aim to ensure that no farmer or FPO is left behind due to a lack of financial resources”, he said.

Earlier Bank’s Divisional Head Sunit Kumar delivered the welcome address and Bank’s Deputy General Manager Rakesh Magotra delivered a detailed presentation on functioning of the FPOs and various credit products of the Bank for development of agriculture segment.

MD JKRLM Shubhra Sharma, Director Horticulture C L Sharma and Joint Director Agriculture Satish Sharma also spoke during the workshop and apprised the participating FPOs about the government’s initiatives

The participants expressed appreciation for the Bank’s commitment to provide them timely and appropriate financial solutions for agriculture and its allied activities.

The workshop also included interactive segments, wherein farmers engaged with Bank officers to clarify their queries and discuss the specific credit needs of their organizations. The participants also discussed the bottlenecks they face currently in availing the facilities from the Bank.

Notably, first such workshop was organized in Kashmir this month, which was attended by forty FPO representatives. The initiative is part of Bank’s vision to promote the growth of the agricultural sector through financial inclusion and credit accessibility, contributing to the overall economic development of Jammu & Kashmir.