Dr Abhijit Sen is Member, Planning Commission of India. He is a Ph.D. in Economics from the University of Cambridge (currently on leave as Professor of Economics at the Jawaharlal Nehru University) and has also taught at the Universities of Sussex, Oxford and Cambridge. Besides serving various think tanks in the states and at the centre, Dr Sen has been a consultant with UNDP, ILO, FAO and various other multilateral...
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NABARD starts infra lending to diversify by Atmadip Ray
The National Bank for Agriculture & Rural Development, or NABARD, has started lending directly to infrastructure projects out of its own resources for the first time in 30 years, in an attempt to diversify its activities and make itself relevant at a time when the dynamics of the rural market are changing. Essentially a refinance bank till recently, NABARD has created a Rs 1,000-crore special window for lending to build core...
More »Kisan credit cards to double up as debit cards by Dheeraj Tiwari
The nearly 10 crore farmers who hold kisan credit cards (KCC) will soon be able to use their card as a deposit account and a debit card. This will help the government scale up its financial inclusion plan quickly without relying on bank accounts alone. KCC, which has been instrumental in faster delivery of credit to farmers, is like an overdraft account with a bank that has to be operated through a...
More »Storage bound farmers to get cheaper crop loan by Dheeraj Tiwari
The Finance Ministry has launched a concessional loan scheme for farmers to prevent distress sale of agricultural produce. Farmers who park their produce at warehouses will be able to avail short-term post harvest loan at 7% as against the prevailing rate of 11%-12%. Farmers making timely payment of the loans will further enjoy 3% interest subvention, bringing the real interest rate to 4%, according to the finance ministry directive. This will benefit...
More »NABARD allocates Rs 2,000 crore for foodgrain storage warehouses
-PTI National Bank for Agriculture and Rural Development (NABARD) today said it has earmarked Rs 2,000 crore for building warehouses which will help in facilitating distribution of foodgrain to poor under the proposed Food Security Act. "Under RIDF ( Rural Infrastructure Development Fund), we have proposed to provide funds to the tune of Rs 2,000 crore exclusively for construction of scientific godowns across the country in this fiscal," NABARD Executive Director S...
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