NABARD advances to UP touch Rs 12,725 cr in FY15

That includes Rs 8,720 cr given to RRB and Cooperative Banks for crop loan to farmers

National Bank for Agriculture and Rural Development (NABARD) has extended financial support of Rs 12,725 crore to Uttar Pradesh during 2014-15.

This was a growth of 27 per cent over the previous year’s business operations of Rs 10,099 crore clocked by NABARD.

The financial support during the just concluded financial year included Rs 8,720 crore given to Regional Rural Banks (RRB) and Cooperative Banks for crop loans to farmers. The support also included about Rs 1,781 crore released as refinance to banks for investment/capital formation in agriculture, Rs 665 crore as direct lending to District Central Cooperative Banks (DCCB) for diversification of their business and Rs 1,520 crore to the UP government for development of rural infrastructure.

NABARD chief general manager Munish said here on Wednesday sanctions under Rural Infrastructure Development Fund (RIDF) had also touched an all-time high of Rs 1,644 crore for 874 projects to the state for critical infrastructure development.

He underlined the bank had given special focus on agricultural credit through commercial banks, RRBs and cooperatives; infrastructure development through rural infrastructure development fund; strengthening of short term cooperative credit structure, women empowerment through Self Help Groups, Joint Liability Groups etc.

NABARD, being the nodal agency for dispensing subsidy under several central government schemes, released almost Rs 27 crore to UP as subsidy under centrally sponsored schemes for supporting infrastructure investment by farmers in solar energy, dairy, poultry and rural godowns.

In addition, over Rs 3 crore was released under the modified revival, reforms and restructuring package for handlooms. Also, 20 Rural Self Employment Training Institutes were sanctioned a grant of Rs 43 lakh. Five DCCBs, including Pilibhit, Ghaziabad and Moradabad DCCBs, have launched RuPay Kisan Cards with assistance from NABARD.

The Bank sanctioned assistance to 15 DCCBs for ‘upscaling’ 4.39 million Kisan Credit Cards (KCC) to RuPay Kisan Cards.