Nabard sets big rural financing target for UP | lucknow | Hindustan Times
Today in New Delhi, India
Mar 27, 2017-Monday
New Delhi
  • Humidity
  • Wind

Nabard sets big rural financing target for UP

lucknow Updated: Jun 21, 2013 12:03 IST
HT Correspondent

The National Bank for Agriculture and Development (Nabard) has set a target of Rs 101,315 crore of bank financing in 2013-14 to strengthen the rural infrastructure in UP.

Of this, Rs 73491 crore was earmarked for agriculture, KK Gupta, the new chief general manager of Nabard, said. He added that the bank had been playing a vital role in developing the rural credit delivery system in Uttar Pradesh.

The Nabard’s annual business operations i n Uttar Pradesh during 2012-13 rose to Rs 7160 crore as against Rs 6506 crore during the previous year. On its part, Nabard envisages to provide over Rs 10500 crore financial support to various institutions in UP in 2013-14.

The financial support during 2012-13 included Rs 1413 crore to the Uttar Pradesh government under the rural infrastructure development fund (RIDF), thus taking total RIDF disbursements to the UP government to Rs 10,550 crore.

Projects worth Rs 2148 crore were sanctioned to the state government for flood protection, irrigation, rural roads and rural bridges, thus raising total sanctions so far to Rs 14,152 crore for 52,870 projects. For 2013-14, Nabard envisages sanctions of Rs 2200 crore and disbursements of Rs 1750 to the UP government. The bank is also supporting construction of warehouses in rural areas through the state corporations and individual entrepreneurs.

Gupta said Nabard released Rs 388 crore as subsidy for centrally sponsored schemes for supporting infrastructure investments by farmers in dairy, poultry and rural godowns. Further, Rs 107 crore was released to the non-government and voluntary organisations in UP for various promotional programmes in the farm, non-farm sector and the micro-finance sectors for self-help groups (SHGs).