National Bank for Agriculture and Rural Development (NABARD) has extended financial support of Rs 12,725 crore to Uttar Pradesh during 2014-15 , reports Business Standard.
This was a growth of 27 per cent over the previous year’s business operations of Rs 10,099 crore clocked by NABARD.
Nabard has given Rs 8,720 crore to Regional Rural Banks (RRB) and Cooperative Banks for crop loans to farmers in the just concluded financial year. The amount also includes Rs 1,781 crore released as refinance to banks for investment/capital formation in agriculture, Rs 665 crore as direct lending to District Central Cooperative Banks (DCCB) for diversification of their business and Rs 1,520 crore to the UP government for rural infrastructural development
NABARD sources said sanctions under Rural Infrastructure Development Fund (RIDF) had touched an all-time high of Rs 1,644 crore for 874 projects to the state for critical infrastructure development.
Nabard had given special focus on agricultural credit through commercial banks, RRBs and cooperatives; infrastructure development through rural infrastructure development fund; strengthening of short term cooperative credit structure, women empowerment through Self Help Groups, Joint Liability Groups etc.
NABARD, being the nodal agency for dispensing subsidy under several central government schemes, released almost Rs 27 crore to UP as subsidy under centrally sponsored schemes for supporting infrastructure investment by farmers in solar energy, dairy, poultry and rural godowns..
Nabard has extended assistance to 15 DCCBs for ‘upscaling’ 4.39 million Kisan Credit Cards (KCC) to RuPay Kisan Cards.