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LATEST NEWS UPDATES | NABARD's loan disbursement crosses Rs.1 lakh crore mark

NABARD's loan disbursement crosses Rs.1 lakh crore mark

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published Published on Oct 7, 2011   modified Modified on Oct 7, 2011
-The Hindu
 
Loans disbursed to State Governments by the National Bank for Agriculture and Rural Development (NABARD) for creating rural infrastructure has crossed the Rs.1 lakh crore mark.

Of that Rs.6,523 crore has been disbursed in Tamil Nadu. This is the fourth among the States that have availed of substantial financial support from NABARD. The other three are Andhra Pradesh (Rs.9,711 cr.), Uttar Pradesh (Rs.7984 cr.), Gujarat (Rs.7,324 cr.),

According to a NABARD release, its disbursements stood at Rs.1,02,844 crore as on September 30 this year. This included loans disbursed to 28 States and Union Territory of Puducherry as well as to the National Rural Roads Development Agency to support the rural roads component of Bharat Nirman.

The sanctions are for 4.48 lakh projects spread over 31 broad activities as per the infrastructure requirements in the rural and agricultural sectors. Maximum funds were utilised for irrigation and agriculture (40 per cent), followed by rural roads (33 per cent), rural bridges, rural drinking water supply and social sector. These loans are for creating infrastructure conducive not only to boost demand for agricultural credit but also to enhance the productivity of credit.

For the current year, under Rural Infrastructure Development Fund, Rs.2,000 crore has been earmarked specifically for creation of warehousing infrastructure. This has opened a new channel of funding from NABARD to support storage of food grains at the production, distribution and consumption levels, not only for state governments, but also for government owned/supported entities and private sector entities which supplement storage requirements for agricultural and allied sector products.

The Hindu, 7 October, 2011, http://www.thehindu.com/todays-paper/tp-national/article2516437.ece


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