NABARD assistance to state grows by 54% in FY '10

Credit disbursement for agricultural and allied activities by the National Bank for Agriculture and Rural Development (NABARD) in Gujarat grew by 54 per cent in FY 09-10 over the previous year, a top bank official said here today.

"Our total credit dispensation in FY-09-10 stood at Rs 2,888.61 crore as compared to Rs 1,879 crore in FY-08-09, showing a growth of 54 per cent," Chief General Manager Gujarat region NABARD S G Siddesh told PTI.

The total credit dispensation includes assistance to Gujarat Government 4,362 fresh projects worth Rs 971.53 crore for rural infrastructure development, he said.

"For the first time in last five years an impressive 81 per cent growth in credit off take under refinance to banks for crop loans was witnessed in FY-09-10, which is amongst our major achievements," Siddesh said.

A loan of Rs 1,200.45 crore was disbursed by NABARD to 17 District Central Co-operative Banks (DCCB) and three regional rural banks in the state.

Last fiscal, disbursement under refinance to bank for crop loans was lower as not many DCCBs participated, Siddesh said adding "Only seven DCCB's approached us for refinance last year."