NABARD approves Rs 140 crore at low interest to Punjab Agri Development Bank

CHANDIGARH: To further strengthen the Punjab State Agricultural Development Bank (PSADB), the National Bank for Agriculture and Rural Development (NABARD) has today approved loan of Rs.140 crore at low interest rates.

The decision was taken during a meeting between Punjab Cooperation Minister Sukhjinder Singh Randhawa-led delegation with NABARD Chairman Harsh Kumar Banwala in Mumbai.

Giving further details, Randhawa said that the Punjab delegation has strongly taken up a case before the chairman that the PSADB is back bone of farming sector and it needs to be strengthened by providing financial support. He further said that on this demand, the Chairman has approved the release of Rs 140 crore at affordable interest rates.