NABARD aid for rural projects swells to ₹ 395 crore
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The National Bank for Agriculture and Rural Development (NABARD) has so far sanctioned a cumulative amount of ₹395 crore for 69 projects under the Rural Infrastructure Development Fund (RIDF) segment.
Of the 69 projects, 25 have been completed with the sanctioned funds. Forty four projects are on-going involving RIDF loan of ₹234 crore, of which ₹84 crore has been released, a NABARD official said.
The RIDF loans cover various vital rural infrastructure projects, like rural roads and bridges, irrigation, schools and drinking water. Though the fund was set up during 1995-96 with the objective of providing low cost fund support to the State/Union Territories to facilitate quick completion of on-going rural infrastructure projects, it was only later that the Union Territory of Puducherry got on board.
Nabard balance sheet grows 24% to Rs 6.57 lakh crore in FY21
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Last Updated: Apr 06, 2021, 04:14 PM IST
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The growth in business was helped by various schemes announced by the government, rejigging of processes and products done by the institution and also as it encouraged clients, institutions and state governments to avail the benefits of the schemes as much as possible for faster developments, Nabard Chairman said.
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The loans and advances of the development bank has grown from Rs 4.81 lakh crore to Rs 6.03 lakh crore
National Bank for Agriculture and Rural Development (Nabard) on Tuesday reported a 24 per cent growth in its balance sheet to a record high of Rs 6.57 lakh crore in the financial year ended on March 31, 2021.
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Tractor sales are expected to maintain healthy traction during the upcoming financial year on the back of high agricultural growth as well as rural infra push.Besides, easy availability of finance and higher rabi acreage will support tractors .