NABARD sanctions Rs 3,766 crore to Rajasthan State Co-operative Bank

The National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 3,766 crore to Rajasthan State Co-operative Bank.

A meeting was held between officials of NABARD and managing director of Rajasthan State Co-operative Bank (Apex Bank) in which the approval of Rs 3,766 crore was issued for crop loans to farmers, Cooperatives Registrar Neeraj K Pawan said.

"NABARD has also approved Rs 200 crore for long-term agricultural loan to Rajasthan State Cooperative Land Development Bank," the state's Cooperative Minister Udai Lal Anjana said on Friday.

He said that as per the directions of Chief Minister Ashok Gehlot, a decision was taken by the government to release Rs 600 crore to Apex Bank and the amount was released today.

"The amount has been transferred to central cooperative banks in their accounts and the process of giving loan to the farmers has started," he said.

Pawan said that kharif crop loans will be deposited in the accounts of all registered farmers by September 30.