The National Bank for Agriculture and Rural Development (NABARD), Karnataka region, has recorded an all-time high financial assistance to the State at Rs. 8,424 crore during 2012-13 for agricultural and rural development, registering a year-on-year growth of about 40 per cent.

S.N.A. Jinnah, Chief General Manager, NABARD, Karnataka, told presspersons on Wednesday the bank has disbursed the highest-ever investment credit support for banks to the extent of Rs. 1,920 crore in the State.

“This will improve the much-needed capital formation for agriculture,” he said.

In order to help farmers in the drought-affected State, it extended concessional crop production finance at 4.5 per cent per annum to the extent of Rs. 5,377 crore during 2012-13 to cooperative banks and RRBs.

NABARD has disbursed Rs. 750 crore aid to the State government for creating rural infrastructure such as the Raitha Samparka Kendras, anganwadis, schools in rural areas, rural roads and bridges.

Special line of credit

In addition, Rs. 326 crore was given as a special line of credit to cooperative banks to meet the financial needs under the direct window system. To address agrarian distress, 164 watershed projects covering over 2.21 lakh hectares in 24 districts were disbursed grant assistance of Rs. 36 crore, Mr. Jinnah said.