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Nabard's assistance to Odisha crosses Rs 100 bn by the end of Q3

For infrastructure creation, the bank has extended financial support to the tune of Rs 211.8 bn

BS Reporter  |  Bhubaneswar 

Photo: Wikipedia
Photo: Wikipedia

The rural development refinancing agency (Nabard's) developmental financial assistance to has crossed Rs 100 billion mark before the end of Q3 in the current financial year.

"During the last fiscal, had extended financial assistance to the tune of Rs 147.15 billion to the state government and the banks, an achievement of 150 per cent given. This year we aim to cross the last year's figure", K C Panigrahi, chief general manager, (regional office).

Under refinance channel, has so far extended Rs 486 billion to the cooperative for production of crops by about three million farmers in the state. Under the long-term refinance head, have availed credit support of Rs 6.24 billion, which have facilitated the creation of private sector farm assets.

For creation, the bank has extended financial support to the tune of Rs 211.8 billion to the state government.

The financial assistance so extended by Nabard, is channelised by the state government for the creation of rural infrastructures like roads and bridges, lift irrigation projects, rural piped drinking water project, warehousing, and irrigation structures etc", said in a statement.

Of late, has started extending credit support to the State Civil Supplies Corporation (OSCSC) for procurement of paddy from the farmers in the state. Till date, has extended financial assistance of Rs 30.85 billion during the current financial year.

Since the inception of Development Fund (RIDF) in 1995-96, has sanctioned cumulative financial assistance of about Rs 199.5 billion to the state government resulting in the implementation of about 224,000 projects.

As an impact, 9,700 km of roads, bridge having a total length of about 120 km and irrigation in 2.76 million hectares land have been created in the state out of RIDF funds, the bank said.

First Published: Mon, January 01 2018. 19:20 IST