NABARD aid for rural projects swells to ₹ 395 crore

The National Bank for Agriculture and Rural Development (NABARD) has so far sanctioned a cumulative amount of ₹395 crore for 69 projects under the Rural Infrastructure Development Fund (RIDF) segment.

Of the 69 projects, 25 have been completed with the sanctioned funds. Forty four projects are on-going involving RIDF loan of ₹234 crore, of which ₹84 crore has been released, a NABARD official said.

The RIDF loans cover various vital rural infrastructure projects, like rural roads and bridges, irrigation, schools and drinking water. Though the fund was set up during 1995-96 with the objective of providing low cost fund support to the State/Union Territories to facilitate quick completion of on-going rural infrastructure projects, it was only later that the Union Territory of Puducherry got on board.

According to a NABARD official, during 2020-21, NABARD had sanctioned projects to the tune of ₹55.35 crore for improvement and strengthening of 12 rural roads and ₹10 lakh for provision of basic minimum infrastructure to the existing open air weekly shandy (Haat) at Madagadipet.

In Puducherry, Puduvai Bharatiar Grama Bank has been extended financial support for promoting 3,000 JLGs over a period of three years. Efforts have been made to leverage technology to bring qualitative change in Self Help Group Bank Linkage Programme (SHG-BLP) and transparency in SHG book-keeping through E- Shakti by digitising their data and updating the same on real time basis.

E-Shakti was piloted by NABARD in the Union Territory in 2016 through Puducherry Rural Livelihood Mission (PSRLM) and subsequently by Puduvai Bharatiar Grama Bank and M.S.Swaminathan Foundation. As on date, 3,899 SHGs have been on-boarded.

Under the “My Pad My Right” initiative focused on livelihoods and menstruation hygiene among rural women, a sanitary napkin-making machine has been provided free of cost to an SHG group in Karaikal. Besides, four sanitation literacy campaigns had been held in Panithittu, Ramanathapuram, Sorapet and Pandian Nagar villages in Puducherry during October.

As part of the Livelihood and Enterprise Development Programme (LEDP), NABARD had supported one LEDP on dry fish processing and value addition in Karaikal district with a sanction of ₹3.99 lakh for training 90 Self Help Group women.

During 2020-21, NABARD had extended refinance assistance of ₹ 178.50 crore to the Puduvai Bharatiar Grama Bank, conducted 20 village-level programmes at various places in Puducherry for SHGs/JLGs to raise awareness on the importance of savings, availing credit from banks, proper utilisation of loans availed, prompt repayment of the loan and setting up of micro units and sanctioned ₹15 lakh to the Puducherry State Cooperative Bank Ltd. for purchasing a mobile van fitted with ATM for creating awareness on digital and financial literacy, officials said.

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Printable version | May 6, 2021 11:40:08 AM | https://www.thehindu.com/news/cities/puducherry/nabard-aid-for-rural-projects-swells-to-395-crore/article34306399.ece

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