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Nabard to promote Sri cultivation

BS Reporter  |  Chennai/ Hyderabad 

The National Bank for Agriculture and Rural Development (Nabard) would promote the System of Rice Intensification (Sri) in the state. It would appoint non-governmental agencies to aggregate about 1,00,000 farmers by rabi season in the rain-fed areas for taking up Sri cultivation to increase the productivity, its AP region chief general manager said.

Speaking to the media on Monday as part of the Foundation Day celebrations, he said was working for enhancing the productivity of lead crops for sustainable development. It has signed an MoU with and to co-innovative and sunrise projects in agriculture, he said, adding it would sign similar deals with other banks. The bank has earmarked Rs 20 crore this year for this.

It would promote 1,200 farmer clubs this year apart from implementing its village development programme in 45 new villages. would also facilitate setting up of 7,500 joint liability groups to lend financial support to tenant farmers apart from taking up the Umbrella Programme for Natural Resources Management to support rational use, conservation and improvement of natural resources for sustaining livelihood opportunities.

During 2010-11, it has targeted to sanction Rs 890 crore for Andhra Pradesh and achieve disbursals of Rs 1,430 crore. Besides, it would give Rs 2,550 crore for refinancing crop loans and Rs 2,200 crore for investment credit. Nabard’s balance sheet as of March 31, 2010, stood at over Rs 1,36,000 crore and the loan outstanding was Rs 1,00,000 crore, he said.

First Published: Tue, July 13 2010. 00:53 IST