NABARD sanctions Rs 42.27-crore loan to Punjab

National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 42.27-crore loan to Punjab for restoration of 319.97 kms of water courses on Sirhind Feeder and Bathinda branch of Muktsar Sahib district.
The loan was sanctioned under NABARD's Rural Infrastructure Development Fund (RIDF), an official release said.
The project envisages reconstruction of water-courses which have completed their useful life of more than 25 years, said P M Ghole, Chief General Manager, Punjab Regional Office, NABARD.
He said this intervention will save around 30 per cent seepage losses and ensure equitable distribution of water particularly to farmers who are at the tail end of the distribution system.

On completion of the project, 71 additional villages spread across 7,909 hectares, that house almost 3,290 farmers, would be benefited, he added.
With this sanction, the cumulative sanctions under RIDF to Punjab has reached Rs 7,181.72 crore.