Nabard Doles Out Rs 720 Crore For Rural Growth

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 720.12 crore for development of rural infrastructure in 13 states.

With this tranche of loan sanctions, Nabard has extended a total Rs 2,878.42 crore to 22 states under the Rs 5,000 crore Rural Infrastructure Development Fund (RIDF-VII).

The loans were sanctioned on Friday by the project implementation committee comprising additional secretary (financial sector) in the finance ministry S K Purkayastha, RBI deputy governor Vepa Kamesam, rural development secretary Arun Bhatnagar, Nabard chairman Y C Nanda and its managing director M V S Chalapathi Rao, a release from the institution said.

The largest share of the loans were sanctioned to Maharashtra which received Rs 180.89 crore, while Rajasthan got Rs 109.57 crore and West Bengal Rs 118.21 crore, the release added.

The other states which received RIDF-VII loans are Andhra Pradesh (Rs 67.07 crore, Chattisgarh (Rs 20.76 crore), Himachal Pradesh (Rs 61.26 crore), Kerala (Rs 19.10 crore, Madhya Pradesh (Rs 53.96 crore), Mizoram (Rs 1.86 crore), Orissa (Rs 21.93 crore), Tamil Nadu (Rs 40.02 crore) and Uttar Pradesh (Rs 23.65 crore).

The loans would be utilised in building hydel projects, roads, bridges, irrigation projects, flood rescue centres and primary schools. The road projects to be covered by the loans number 283 with a total length of 1,405.11 metres. Then there are 94 bridges with a total length of 5,093.93 metres, 462 irrigation projects for creating additional potential of 1.79 lakh hectares.