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| Nabard extended Rs 3,681 cr refinance support in FY11 |
| Press Trust of India / Bangalore Apr 06, 2011, 19:45 IST |
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A total refinance support of Rs 3,680.70 crore was extended by National Bank for Agriculture and Rural Development (Nabard) towards long-term and shor- term agriculture in 2010-11, taking the cumulative refinance support in the state to Rs 21,745.55 crore.
Out of this, refinance assistance of Rs 980.14 crore was extended towards investment credit aiding capital formation in farm and non-farm sectors, registering a 31.5% rise over the previous year, Dr V Tagat, Chief General Manager for Nabard, Karnataka, told reporters.
Refinance assistance of Rs 2,600 crore was sanctioned towards production credit to Karnataka State Cooperative Apex Bank and RRBs, Rs 100 crore to RRBs for marketing of crops and Rs 56.69 lakh to KSCAB for financing production and marketing activities of Primary Weavers Coop Societies, he said.
An amount of Rs 861.30 crore was sanctioned by the Karnataka government towards Rural Infrastructure Development loans for construction of roads and bridges, minor irrigation works, rural services, registering a 31% growth over the previous year.
This has taken the cumulative sanctioned assistance in the state to Rs 6,411.17 crore since 1995-96. A sum of Rs 750 crore was disbursed during the year, taking the cumulative disbursement to Rs 4237.26 crore.
Under Watershed Development Fund, 231 projects were supported. With the assistance of Rs 30.62 crore extended in 2010-11, the cumulative sanction and disbursement in the state stands at Rs 141.24 crore and Rs 79.22 crore, respectively.
Refinance support of Rs 50 crore was extended to NABFINS, a subsidiary of Nabard for making available loans to self help groups at reasonable rates, he said.
It sanctioned a grant assistance of Rs 4.2 crore for promotion and linkage of more than 21,000 joint liablity groups of tenant farmers, oral lessees in the state.
Eight new tribal development projects were sanctioned for supporting sustainable livelihood systems for about 6,200 families with a total financial support of Rs 24.04 crore from Tribal Development Fund, taking the cumulative sanction in the state to Rs 42.76 crore, he said.
Under the Farm Technology Transfer Fund, 29 new projects were sanctioned with assistance of Rs 153 lakh. Under the Rural Innovation Fund, new projects involving a total assistance of Rs 68.68 lakh have been sanctioned.
Going ahead, he said the potential for credit deployment to the tune of Rs 41,085 crore in the state is estimated for 2011-12 in the potential linked plans.
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