The A.P. Regional Office of National Bank for Agriculture and Rural Development (NABARD) announced an impressive 37 per cent growth in credit support in the just-ended fiscal disbursing Rs.9,238 crore as against its performance during 2010-11.
28 per cent high
At a press conference to disclose its annual performance here on Monday, Chief General Manager P. Mohanaiah said the total outstanding business of NABARD-AP had gone up to Rs.14,261 crore as on March 31, 2012, up 28 per cent from Rs.11,140 crore in the last fiscal.
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MoU
While the regional office had registered impressive growth across several key operational parameters, he said they looked forward to proffering a helping hand to suffering weavers. He recalled that A.P. was the first State in the country to execute an MoU with NABARD for implementing a ‘Revival, Reform and Restructuring Package for the Handloom Sector', announced recently by the Government of India.
Giving an outline of the current scenario in the handloom sector, where weavers were struggling for their everyday living, Mr. Mohanaiah said that NABARD as the nodal agency was in the process of identifying an agency for a special audit of APCO, the apex society at the State-level, A.P. State Handloom Weavers' Co-operative society Ltd., focussing on its losses and come up with solutions to replenish the same.
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One-stop shop
Some priority areas included facilitating the graduation of the Primary Agriculture Credit Society (PACS) to Multi-Service Cooperatives (MSC) and enable them to act as a one-stop shop for farmers.
As of now only two PACS, in Krishna district were sanctioned with an assistance of Rs.1.45 crore and NABARD-AP would identify at least a 100 more, he added.
Credit potential
Mr. Mohanaiah said the State focus paper for 2012-13 that aggregated the credit potential in all the districts of the State estimated a total credit potential in the priority sector at a whopping Rs.85,326 crore, a growth rate of 20.4 per cent over the last fiscal's projection.