NABARD hopeful of achieving target: Karmakar

National Bank for Agriculture and Rural Development said that despite slowdown in recovery, it is hopeful of achieving the budgetary target of Rs 2,80,000 crore farm loan disbursement for 2008-09.

National Bank for Agriculture and Rural Development (NABARD) on Thursday said that despite slowdown in recovery, it is hopeful of achieving the budgetary target of Rs 2,80,000 crore farm loan disbursement for 2008-09.

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"Our target for the current fiscal is Rs 2,80,000 crore. We have achieved estimated Rs 1,96,000 crore (till December 31), and we are hopeful of meeting this target," NABARD Managing Director K G Karmakar told reporters on the sidelines of a function in Mumbai.

He said, the slowdown in the recovery is due to the debt waiver scheme.

"We are expecting some recovery from the banks", he said.

In the previous fiscal, Nabard refinanced farm loan worth Rs 2,41,000 crore, exceeding the target of Rs 2,25,000 crore, Karmakar said.