Nabard doubles financial assistance to Odisha in two years

Development financial institution National Bank for Agriculture and Rural Development (Nabard) has doubled its financial assistance to Odisha in the last two years.

The total financial resource support to the state has doubled to Rs  171.95  billion in 2017-18 under both institutional credit support and infrastructure development from Rs 83.68 billion clocked during 2015-16.  

“During the year 2017-18, Nabard has extended a total credit support of over 171.95 billion in the state as well as involved itself in the State in the whole process of credit planning and monitoring since 1982 as well as during 2017-18”  said  K C  Panigrahi, Chief general manager (Odisha Regional Office) on the occasion of the   37th Foundation Day of Nabard organized here.

He also recapitulated the major achievements of Nabard in the state and apprised about the initiatives taken by the financial institution in providing credit support and implementing various developmental and promotional programmes.

Speaking on the occasion, Union minister for Petroleum & Natural Gas, Skill Development  & Entrepreneurship, Government of India, Dharmendra Pradhan urged banks to strive to ensure, under the leadership of Nabard and RBI (Reserve Bank of India), an eco-system in the state where problems relating to farmers and small entrepreneurs can be addressed by effectively implementing various schemes of Government of India and the state government and initiatives like MUDRA loan, Farmers Producers Organisations etc.