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The Role of Banking Sector in the Andhra Pradesh State on Agricultural Development

Abstract

The Indian rural economy faces several challenges in agricultural sector. Climate change poses a major risk of loss in crop productivity and widespread asset destruction due to extreme weather events in our country. Sustainable growth of agriculture and the rural economy needs to be turbo charged through the massive investment in rural infrastructure, including irrigation, with a focus on water use efficiency, enhancement in total factor productivity of crops, technology driven agriculture, agritech start-ups, climate smart agriculture, development of efficient agrivalue chains, agri-marketing reforms, promotion of agri-exports, enhanced spending on research and development, modernization of rural crafts, credit innovations, digital financial inclusion on a massive scale and agri-risk management. And Crops absorb hardly 20% to 30% of the fertilizers, pesticides and weedicides applied to Indian fields, the rest simply pollute the soil. In this regard the banks are played a vital role in India. The banking sector is considering for development of the agriculturists of natural resource management projects have benefitted communities through soil and moisture conservation, higher productivity, climate proofing, and by providing alternative livelihoods, besides ensuring security and sustainability of existing livelihoods.

Hence, the role of the banking sector in agriculture is needing serving the country. Besides financing traditional activities, banks are also involved in training and setting up consultancies, Agri clinics, Kisan credit cards, the export and marketing of agricultural produce, etc. The role of the banks in agriculture sector is not limited to providing credit. The present study pointed out the role of the banking sector is useful for the development of the economy in the agriculture. Especially, this study is to know the role of banks in total agricultural advances, bank wise achievements, and district wide achievement of agricultural sector in Andhra Pradesh state. The present research paper is exploratory in nature and makes use of secondary data.

Sadhik S

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