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NABARD extended Rs 3,871 crore in credit support to AP

National Bank for Agriculture and Rural Development (NABARD), Andhra Pradesh region has extended credit support to the tune of Rs 3870.93 crore in the state during the year 2007-08.

PTI|
Apr 03, 2008, 08.56 PM IST
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HYDERABAD: National Bank for Agriculture and Rural Development (NABARD), Andhra Pradesh region has extended credit support to the tune of Rs 3870.93 crore in the state during the year 2007-08.

Talking to mediapersons here today, S R Aluru, Chief General Manager, NABARD, AP region, said this was an increase of 11.38 per cent over 2006-07 credit support.

Andhra Pradesh is the biggest beneficiary of assistance under the bank's Rural Infrastructure Development Fund (RIDF), he said.

During 2007-08, NABARD's refinance assistance for investment credit to commercial banks, regional rural banks and cooperative banks reached an impressive Rs 1412.44 crore for various activities under priority sector, Aluru said.

It reflected an increase of 46 per cent over the previous year's figure of Rs 966.43 crore.

An assistance of Rs 1,010 crore was provided to Regional Rural Banks, commercial banks availed Rs 320 crore and state cooperative banks Rs 81.70 crore, Aluru said.

Among sectors, micro credit was extended an assistance of Rs 967 crore, rural non-farm Rs 196. The other major sectors were minor irrigation, farm mechanisation, dairy and horticulture.

NABARD has been implementing several subsidy-linked programmes, he said. During 2007-08 under the agricultural marketing infrastructure scheme, 303 proposals had been sanctioned involving a subsidy of Rs 1458.57 lakh. This was a 147 per cent increase over the 2006-07 figure.

He also highlighted various other projects taken up by the bank during the year.
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