GANGTOK — On Monday, February 23, 2026, the Sikkim Regional Office of the National Bank for Agriculture and Rural Development (NABARD) released the State Focus Paper (SFP) 2026–27 at the State Credit Seminar held at a local hotel in Gangtok. The SFP, NABARD’s annual credit-planning document for the state, estimates Sikkim’s aggregate credit potential for 2026–27 at Rs 1,701.42 crore, divided into Rs 589.04 crore (34.62%) for agriculture and allied activities, Rs 968.99 crore (56.95%) for micro, small and medium enterprises (MSMEs), and Rs 143.39 crore (8.43%) for other priority sectors.
Chief Secretary Ravindra Telang, the seminar’s chief guest, said the SFP will guide the state’s credit outlay and development priorities for the coming financial year. He stressed that timely and adequate credit underpins economic growth and human development, arguing that credit built on trust encourages investment and entrepreneurship. Telang urged banks, government departments and development agencies to create an environment that helps producers access finance, invest productively and earn returns above borrowing costs.
The inaugural session included MCP Pradhan (Controller of Accounts & Secretary, Finance), Jigme Dorjee Bhutia (Commissioner-cum-Secretary, Agriculture and Horticulture), Rodney Valentine (Deputy General Manager, Reserve Bank of India), Alok Jain (Deputy General Manager, SBI Kolkata), and Ajay Kumar Sinha (General Manager and officer-in-charge, NABARD Sikkim).
Speakers highlighted sectoral priorities and practical steps to improve credit absorption. SBI’s Alok Jain called the SFP a comprehensive roadmap for banks’ Annual Credit Plans and urged support to shift farming from subsistence to commercial models through value addition and market linkages. Agriculture secretary Jigme Dorjee Bhutia emphasized cluster-based, market-oriented development and integration with allied sectors such as fisheries and animal husbandry. RBI’s Rodney Valentine underlined the need to meet priority sector lending targets, expand credit outreach in underserved districts, and strengthen financial literacy and KYC compliance.
NABARD handed over sanction letters and disbursement support for initiatives including financial assistance to Sikkim State Cooperative Bank Ltd, Tribal Development Fund projects in Kitam Manpur (Namchi) and Naga (Mangan) GPUs, incentives for customer service points and business correspondents, and deployment of micro-ATMs to boost last-mile digital financial inclusion. Deputy General Manager Anil Kumar Yadav presented the credit plan and projections, and sessions also covered NABARD’s rural infrastructure and livelihood interventions, Geographical Indications (GI) support, and cooperative development. Beneficiaries shared experiences, and Ugen P. Lepcha showcased GI certificates for Lepcha musical instruments Tungbuk and Pumtong Pulit, noting GI protection helps preserve heritage and enhance market value. The seminar concluded with a vote of thanks from AGM Tempa C. Bhutia; the welcome address had been delivered by Ajay Kumar Sinha.
Original Source: https://www.sikkimexpress.com/news-details/nabard-releases-state-focus-paper-2026-27-for-sikkim-estimates-credit-potential-at-rs-1701-cr-for-priority-sectors
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