The Punjab regional office of National Bank for Agriculture and Rural Development (Nabard) extended a financial support of Rs 8,242 crore during 2012-13. This is the highest ever assistance so far and showed an increase of over 24 per cent over the last year.
Krishan Jindal, Chief General Manager, informed that out of Rs 8,242 crore, Rs 6,403 crore was for crop loan, Rs 1,218 crore for investment credit and Rs 621 crore for infrastructure under the Rural Infrastructure Development Fund. Further, for facilitating credit flow for crop loan in Punjab, Nabard provided a financial support of Rs 5,400 crore to cooperative banks, Rs 1,003 crore to regional rural banks, totaling Rs 6,403 crore. This is 21 per cent more than that of previous year.
Nabard has extended this support at a concessional rate of interest of 4.5 per cent a year, which has helped these banks to provide crop loan to farmers at 7 per cent a year.
Krishan Jindal, Chief General Manager, informed that out of Rs 8,242 crore, Rs 6,403 crore was for crop loan, Rs 1,218 crore for investment credit and Rs 621 crore for infrastructure under the Rural Infrastructure Development Fund. Further, for facilitating credit flow for crop loan in Punjab, Nabard provided a financial support of Rs 5,400 crore to cooperative banks, Rs 1,003 crore to regional rural banks, totaling Rs 6,403 crore. This is 21 per cent more than that of previous year.
Nabard has extended this support at a concessional rate of interest of 4.5 per cent a year, which has helped these banks to provide crop loan to farmers at 7 per cent a year.
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