Friday, April 18, 2014

NABARD releases 2013-14 Annual financials

GANGTOK, 17 Apr: The annual financials as on 31 March 2014 of National Bank for Agriculture and Rural Development (NABARD) was released recently. While releasing the 2013-14 financials Chairman of NABARD, Dr. Harsh Kumar Bhanwala said that the development financial institution catering to agriculture and rural development has served the sector in a steadfast manner, as per a press release from NABARD.
He informed that NABARD has disbursed Rs 80,067 crore to the Regional Rural Banks and Cooperative Bank enabling them to give Crop loans at 7% p.a. and Rs 21,482 crore to the Banking Sector enabling them to improve to improve capital formation in agriculture. The Sikkim Regional Office has disbursed Rs 4 crore to SISCO bank towards Crop loans informed GM/OIC of NABARD, Sikkim RO, Gangtok, R P Bhargava.
Rural infrastructure saw disbursements of Rs. 17,353 crore during 2013-14, a growth of 6.51% over the previous year. RIDF loans have come to define high quality infrastructure projects across the country, the release mentions. Sikkim RO has disbursed Rs 47 crore to State Government during FY 2013-14 under RIDF for the Roads, Bridges & irrigation projects.
NABARD continued to promote best practices in farm sector and has invested over Rs 300 crore under a wide array of development projects like watershed development, Wadi development, promoting System of Rice Intensification (SRI) etc. Sikkim RO has disbursed grant of Rs 1.73 crore under WADI project in all the Districts of Sikkim through PIA viz. KVKs & UPOS (East Sikkim) benefiting 1768 families covering an area of 710Ha, the release informs.
On the micro finance front, the figures finalized for the year 2012-13, show disbursement of Rs 20,590 crore to self-help groups across the country, a positive growth rate of 24.5% over the previous year.  Sikkim RO has disbursed Rs 10 lakh under Women Self Help Group project in two districts.
In Sikkim, NABARD disbursed grant of Rs 16 lakh under Farmers Technology Transfer Fund (FTTF) thus benefiting the members of 543 Farmers Club formed in the State. Under Research & Development Fund NABARD disbursed Rs 50 lakh and exposure visits of the members of Farmers Club to various states were organised.


   

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