Andhra Pradesh

NABARD lending in A.P. touches all-time high

The National Bank for Agriculture and Rural Development (NABARD) Chief General Manager Sudhir Kumar Jannawar has said the loans disbursed by the NABARD Andhra Pradesh Regional Office reached an all-time high of ₹27,992 crore. It includes ₹20,515 crore refinance support extended to the banks in the State for supporting their short-term crop loans and long-term farm loans.

The NABARD also disbursed more than ₹2,000 crore for the implementation of infrastructure projects in the State as per the priorities of the State government, which includes Polavaram Project and Chintalapudi Lift-Irrigation Project, he said. Mr. Jannawar was addressing ‘Digital Choupal’, an online event organised in connection with the 39th Foundation Day of the bank. The event was hosted on YouTube and Facebook on Monday.

The NABARD also extended support of more than ₹4,000 crore to AP State Civil Supplies Corporation for paddy procurement operations. To meet the liquidity needs of the RRBs and cooperative banks in the wake of COVID-19 pandemic, ₹2,500 crore was released under the Special Liquidity Facility, he said.

During 2019-20, the NABARD Andhra Pradesh Regional Office supported many promotional and developmental programmes to the tune of ₹30 crore. As many as 100 farm producer organisations and 50 tribal development projects were supported by NABARD so far, he said.

Literacy camps

Mr. Jannawar also indicated that in order to strengthen the banking network and to promote inclusive banking, the NABARD would continue to support financial inclusion initiatives in the State such as conducting financial and digital literacy camps, conducting street-plays on financial literacy, supporting mobile demonstration vans-cum-micro-ATMs for doorstep banking.

The NABARD would take up geo-tagging of all warehouses in the State and strive for more capital formation and increasing farm productivity through Agri Infrastructure Development.

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Printable version | Oct 30, 2020 8:04:43 PM | https://www.thehindu.com/news/national/andhra-pradesh/nabard-lending-in-ap-touches-all-time-high/article32071991.ece

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