NABARD extends ₹20,549 cr. to State

The National Bank for Agriculture and Rural Development (NABARD) has announced that it’s total financial support to Telangana in 2020-21 through various interventions was ₹ 20,549 crore, which was an increase of 25.09% over 2019-20 when an assistance of ₹16,312.50 crore was extended.

Giving details of interventions by the agency in the State, its Chief General Manager here Y.K. Rao said in a release that a sum of ₹ 13,915.22 crore was provided to banks for lending to crop loans and term loans.

An amount of ₹ 6,633 crore was given to State for creating infrastructure in rural areas. More than ₹ 4,600 crore was sanctioned to Mallannasagar reservoir under Kaleswaram lift-irrigation project and ₹2,394.70 crore was disbursed during the year. A sum of ₹ 2,500 crore cash credit was sanctioned and disbursed to Telangana State Civil Supplies Corporation for procurement of agricultural produce.

A grant of ₹ 41.39 crore was provided by Telangana regional office of NABARD for various farm and off-farm interventions. More than ₹26 crore was disbursed for watershed development, climate change projects and supporting farmers’ produce organisations. NABARD promoted nearly 330 FPOs and was handholding them for the last four years. Credit linkage of 57 FPOs was facilitated through NABKISAN and various commercial banks.

An amount of ₹2 crore was spent for various initiatives for handholding and skill training of self-help group members. Nearly ₹6 rore was allotted for institutional development of primary agricultural cooperatives, cooperatives and regional rural banks.

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