NABARD extends financial support of Rs. 8188 cr

CHANDIGARH: National Bank for Agriculture and Rural Development (NABARD) has extended a record support of Rs.8188 crores for Agriculture and Rural Development in the states of Punjab, Haryana and UT Chandigarh during 2008-09, recording a growth of 32 per cent over the 2007-08.

Out of Rs.8188 crore, Rs.1711 crore (21 per cent) was provided towards Investment Credit for capital formation covering Farm and Non Farm sector activities to Commercial Banks, Regional Rural Banks (RRBs) and Cooperative Banks in the States of Punjab, Haryana and UT Chandigarh, a spokesman said in a release issued here today.

While Rs.5741 crore which constitutes 71 per cent of the total support was extended to Cooperative banks and RRBs to meet the Short-term credit needs of farmers for carrying out seasonal agriculture operations and other activities.

Under Rural Infrastructure Development Fund (RIDF), Rs. 736 crore was extended to Punjab and Haryana for creation of various infrastructure like roads, bridges, irrigation, schools and animal husbandry-Veterinary hospitals etc.

Further, an amount of Rs.827 crore has been sanctioned under RIDF for 102 Irrigation, 140 Roads, 49 Bridges, 5 Animal Husbandry and 6 Educational projects for the States of Punjab and Haryana.