NABARD sanctioned Rs 3.44 lakh crore under RIDF since 1995-96

NABARD has sanctioned a cumulative loan of more than Rs 3.44 lakh crore for various projects across the country under the Rural Infrastructure Development Fund since RIDF's inception, Union Finance Minister Nirmala Sitharaman said in Lok Sabha on Monday.

The minister said during Question Hour that the National Bank for Agriculture and Rural Development (NABARD) provides loan-assistance to state governments/state-owned corporations for investments in creating agriculture and rural infrastructure.

She said major funds are maintained and operationalised by NABARD, out of which loans are sanctioned for Rural Infrastructure Development Fund (RIDF), Long Term Irrigation fund (LTIF), Warehouse Infrastructure Fund (WIF) and Food Processing Fund (FPF).

Since RIDF's creation in 1995-96, till March 31, 2019, a cumulative loan of Rs 3,44,142 crore has been sanctioned and Rs, 2,68,220 crore has been disbursed to various state governments under RIDF, she said.

The minister said NABARD also provides loans to state governments to support various other initiatives of the government in the rural sector like Pradhan Mantri Awas Yojana-Gramin (PMAY-G), Swachh Bharat Mission-Gramin (SBM-G).

The NABARD has been providing loans to state governments for building critical rural infrastructure, agriculture development, improving rural connectivity and social sector development.