The National Bank for Agriculture and Rural Development (Nabard) has achieved a major milestone in the State during the financial year 2012-13 with total loans to government and banks crossing Rs.10,000 crore for the first time.
Nabard had given loans to the tune of Rs.12,867 crore during the year, registering 39 per cent growth over the previous year and a major chunk of the disbursed amount, Rs.7,986 crore, related to crop loans given to farmers. The bank supported capital formation in agriculture by providing term loan refinance to banks amounting to Rs.2,879 crore of which, a lion’s share went to the self help groups.
The State received Rs.1,421 crore support under rural infrastructure development fund (RIDF) enabling creation of infrastructure for better connectivity, storage, warehousing and marketing yards. This was the second highest utilisation of cost-effective Central fund in the country.
Nabard sanctioned Rs.200 crore to the AP Transco under its infrastructure development assistance and another Rs.106 crore was sanctioned to AP Warehousing Corporation.
An amount of Rs.455 crore was released to the AP State Cooperative Bank for supporting its short-term multipurpose lending.
Nabard said, in a press release, that the bank help the Central government as a pass through agency to route many of their rural oriented subsidy schemes to banks for supporting agriculture and rural development investments. The State secured a subsidy of Rs.158 crore for such investments.
It loan disbursal to State government and banks during the financial year 2012-13 crosses 10,000 crore for the first time