KCC loans now disbursed within five minutes, Yogi hails NABARD initiative  

The CM appreciated the efforts of NABARD in assessing the credit roadmap for the priority sector and guiding the bankers in achieving the same. He appreciated the NABARD’s e-KCC initiative which has reduced the loan approval time. The e-KCC portal has been developed by NABARD to digitise the processing of the applications, informed the spokesperson.

During the event, the CM shared the vision of a 1 trillion dollar economy and said that the state is showing substantial achievement on various parameters such as GDP, Growth Rate, Per Capita Income, technological, manufacturing and agriculture among others.

He said that for 2026–27, the state has set an agricultural credit target of Rs 3 lakh crore — an increase of 13 per cent.

Highlighting the role of technology, Yogi said the government and Annadata Kisan are jointly exploring the use of Artificial Intelligence in agriculture. During the Union Budget, an AI agriculture platform was announced and Uttar Pradesh is moving rapidly in this direction, he said.

Yogi said that the cooperative sector has undergone a major transformation under the vision of “Sehkar se Samriddhi ki Aur”. Digitisation, e-governance and transparency have strengthened accountability, the CM said further.

Recalling the pre-2017 situation, he said 16 district cooperative banks were declared defaulters, but today 15 of them have turned profitable, with efforts underway to revive the remaining one.

Yogi said that Uttar Pradesh is the first state in the country to collaborate with the World Bank in the agri-tech sector. Agriculture, Micro, Small, and Medium Enterprises (MSMEs), women empowerment, agri-tech and youth entrepreneurship remain top priorities of the government, said the CM.

He said that exports have increased from Rs 84,000 crore to Rs 1.86 lakh crore. Uttar Pradesh happens to be the first state to provide Rs 5 lakh security insurance to MSME units.

Referring to the banking reforms, Yogi said that the state’s credit-deposit ratio has improved from 43 per cent to 61 per cent in nine years, with a target of 65 per cent by 2026–27. He added that small and marginal farmers are now receiving loans at 5–6 per cent interest, with the government bearing the remaining burden.

The CM said the state’s economy has grown from Rs 11.7 lakh crore in 2016 to an estimated Rs 36 lakh crore this financial year, with per capita income rising from Rs 43,000 to Rs 1.20 lakh. Uttar Pradesh is now revenue-surplus, fiscally disciplined, and the second-largest economy in the country.

Appealing to the bankers, Yogi urged simplification of loan conditions and a positive approach towards farmers, FPOs, MSMEs and cooperatives.

Pankaj Kumar, Chief General Manager, NABARD Regional Office, said that the estimates projected in the State Focus Paper are the aggregation of the potential assessed at the ground level for all the 75 districts of the state and based on the SFP, the Annual Credit Plan of the state for 2026-27 will be finalised by the State Level Bankers’ Committee (SLBC).