Year: 2014 | Month: July | Volume 59 | Special Issue
Directing the Credit for Agricultural Growth in Jammu & Kashmir
Abstract:
Jammu and Kashmir is a hill state having majority of farmers falling under marginal and small holding categories. Diffusion of modern agricultural techniques and practices to the farmers by way of strengthening and activating the extension machinery can go a long way in improving the situation. This adoption of new technologies depends largely on the state of infrastructure and resources available with the farmers. Therefore credit is an important input for maintaining resources to improve agriculture at local level. However, both the Government and the financial institutions are taking several steps to enhance the credit flow to agriculture. During the past few years significant progressive changes have taken place in banking and financial structure of Jammu and Kashmir. The growth of commercial banks and co-operative credit societies has been really spectacular. The Banks have played a crucial role in the mobilization of savings and Investment. Bank credit to productive sectors of the economy has a critical role in sustaining the growth process. Banking structure in J&K consists of Commercial Banks, Regional Rural Banks and Cooperative Banks. At the end of December 2008, the state was served by 944 bank branches of all Scheduled Commercial Banks.
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