Nabard aid to Punjab, Haryana, Chandigarh up 32%

The National Bank for Agriculture and Rural Development (Nabard) has extended assistance to the tune of Rs 8,188 crore to Punjab, Haryana and Chandigarh during 2008-09, implying a growth of 32 per cent over the previous year.

Of the total Rs 8,188 crore, Rs1,711 crore was provided towards investment credit for capital formation covering farm and non-farm sector activities to commercial banks, regional rural banks (RRBs) and cooperative banks in Punjab, Haryana and Chandigarh.

Further, Rs 5,741 crore constituting 71 per cent of the total disbursement was extended to cooperative banks and RRBs to meet short-term credit needs of farmers for carrying out seasonal agriculture operations and other activities.

Under the Rural Infrastructure Development Fund (RIDF), Rs 736 crore was extended to Punjab and Haryana for creation of various infrastructure like roads, bridges, irrigation, schools and animal husbandry and veterinary hospitals.

Further, an amount of Rs 827 crore has been sanctioned under RIDF for 102 irrigation, 140 roads, 49 bridges, 5 animal husbandry and 6 educational projects for in these two states.

During 2008-09, Rs.215 crore was released to Haryana to strengthen cooperative credit institutions in the state under Vaidyanathan Package for Revival of Cooperatives.

Nabard has also initiated steps towards more inclusive growth under the self-help groups’ bank linkage programme. It has sanctioned a total grant of Rs40 lakh to various partner NGOs, banks for promotion and linkage in these states.