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This is an archive article published on April 11, 2009

Despite slowdown,NABARD’S loan assistance up 21 per cent

Beating slowdown blues,the National Bank for Agriculture and Rural Development's loan assistance to banks and Government of Maharashtra increased by 21.54 per cent in 2008-09 financial year as compared to 2007-08.

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Beating slowdown blues,the National Bank for Agriculture and Rural Development’s (NABARD) loan assistance to banks and Government of Maharashtra increased by 21.54 per cent in 2008-09 financial year as compared to 2007-08. The total loans aggregated to Rs 3,375.10 crore in 2008-09 as against Rs 2,777.09 crore in 2007-08.

According to a statement issued by NABARD on Thursday,the total sanction accorded to state government for various infrastructure projects also grew from Rs 1,083.70 crore to Rs 1,122.66 this year. About 53 per cent,a major share of this sanction was for irrigation,33 per cent for roads and bridges and 14 per cent for rural water supply projects.

With a view to mitigating the liquidity problems faced by the banks in thw wake of implementation of agricultural debt waiver and debt relief scheme,NABARD provided liquidity support of Rs 851.58 crore to cooperative banks and Rs 14 crore to regional rural banks (RRB).

With cooperative banks and RRBs issuing 1.48 lakh Kisan Credit Cards this year with initiatives taken by NABARD. The cumulative number of Kisan credit cards that have been issued by banks till date are 5.32 crore.

Apart from credit support,NABARD has continued to support the self-help group-bank linkage programme and farmers’ clubs. Under the SHG-bank linkage programme,as many as 24,625 SHGs were credit linked this year with the total number figuring at 3.66 lakh in the state. On the other hand,728 new farmers’ clubs were launched in the state with the total number of farmers’ clubs functioning went up to 2,783.

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