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| Nabard sanctions Rs 740 crore to RRBs |
| Press Trust of India / Thiruvananthapuram Aug 16, 2010, 19:17 IST |
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The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 740 crore as crop loans to North Malabar Gramin Bank and South Malabar Gramin Bank during 2009-10.
This amounted to a record 200 per cent growth over the previous year and both the banks registered 100 per cent utilisation, K C Shashidhar, Chief General Manager, Nabard-Kerala said in a press release here.
The total disbursement of the bank that stood for providing and regulating credit for promotion and development of agriculture during 2009-10 crossed Rs 2,560 crore.
Nabard-Kerala sanctioned a refinance disbursement of Rs 914 crore to various banks in the state during the year for farm and non-farm loans. With this, Nabard-Kerala achieved the third position in investment credit disbursement at the national level, he said.
Nabard's funding for rural development in Kerala registered an 82 per cent increase during 2009-10 compared to the previous year.
As most of the projects for which funds were allotted were in the fields of watershed development, irrigation and drainage control, the direct beneficiaries wer the village community including farmers, he said.
The bank released a revolving fund assistance of Rs 1 crore to NGOs in the state last year. A total of 101 promotional programmes were also sanctioned, Shashidhar said.
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