Nabard loan disbursements up 29% at 49,952 cr

National Bank of Agriculture and Rural Development (Nabard) today said it has provided loans worth Rs 49,952 crore to financial institutions and various state governments during the fiscal ended March 31, 2009.

The bank clocked a 29 per cent growth in loan disbursements over FY 2007-08, when it disbursed Rs 38,660 crore, a bank release said here.

The total working funds of the bank crossed the Rs 1 lakh-crore mark as it stood at around Rs 1,19,000 crore at the end of the year on March 31, 2009, an increase of around 21 per cent over FY 2007-08, which stood at 98,706 crore.

To supplement the short-term funds of co-operative and regional rural banks, Nabard provided Rs 21,460 crore short-term funds to such institutions during 2008-09, the release said.

A major portion of the Rural Infrastructure Development Fund assistance from the bank to the state governments during the fiscal was used for investments in irrigation and agri- related projects, the Bank said.