Nabard disburses over R10,000-cr loans in AP

Written by feBureau | Hyderabad | Updated: Apr 9 2013, 06:29am hrs
National Bank for Agriculture and Rural Development (Nabard), Andhra Pradesh, has crossed R10,000-crore mark in loan disbursals. The loans given to the state government and banks in Andhra Pradesh by Nabard registered a growth of 39% and stood at R12,867 crore.

This is the highest ever disbursal done by Nabard as part of providing financial support and developmental grants to stakeholders in Andhra Pradesh, said KR Nair, the chief general manager of Nabard-AP. In fact, Andhra Pradesh is the largest contributor to the overall disbursements from Nabard. Of the total loan disbursements of R12,867 crore, R7,986 crore related to crop loans was given to the farmers in the state.

From a total loan of R1,06,083 crore given by Nabard across the country, Andhra Pradesh could get R12,880 crore which is about 12% of the total share. In the current financial year, Nabard has set a credit flow target of R1.06 lakh crore in Andhra Pradesh, of which loans to the state government and banks would amount to about R16,000 crore.

Nair said the bank has given term-loan refinance to the tune of R2,879 crore, of which most of the amount was given to self-help groups (SHGs). Further, the state government was able to utilise R1,421 crore of Rural Infrastructure Development Fund (RIDF) from Nabard for creation of rural infrastructure for improving connectivity, storage, warehousing, marketing yards and support to educational institutions. This is the second highest utilisation of cost-effective central usage in the country, Nair added.

Some of the new range of products from Nabard include Nabard warehousing scheme which sanctioned R105.69 crore, R200 crore to Nabard Infrastructure Development Assistance; R49.81 crore for graduating 148 primary agricultural cooperatives (PACs) to multi-service cooperatives; short-term multi purpose credit product to cooperative banks to the tune of R495 crore and R12.51 crore towards producers organisation development fund.