NABARD's fin assistance to K'taka in FY13 at over Rs 8,400 cr

BANGALORE: Karnataka regional office of NABARD has recorded all time high financial assistance in the State at Rs 8,424 crore during 2012-13 for agricultural and rural development, registering an year-on-year growth of about 40 per cent.


NABARD has disbursed the highest ever investment credit support for banks to the extent of Rs 1,920 crore in the state, Chief General Manager, KRO, S N A Jinnah said today.

"This will improve the much needed capital formation for agriculture in the State".

In order to help farmers in the drought-affected State, NABARD has extended concessional crop production finance at 4.5 per cent per annum to the extent of Rs 5,377 crore during 2012-13 to cooperative banks and RRBs.

NABARD has disbursed Rs 750 crore of financial assistance to Government of Karnataka for creating rural infrastructure such as 'Raitha Samparka Kendras',Anganwadis, schools in rural areas, ITIs, rural roads and bridges.

In addition, Rs 326 crore has been given as a special line of credit to cooperative banks to meet the financial needs under the direct window system.

In order to address agrarian distress, 164 watershed projects covering over 2.21 lakh hectares in 24 districts were disbursed grant assistance of Rs 36 crore.

Fifteen projects involving Rs 61.83 crore outlay have been sanctioned by NABARD to enhance livelihood of the poor people in organic farming and processing and integrated dairy farming, among others.

As regards micro finance, as many as 80,950 Self Help Groups involving NABARD refinance of Rs 850 crore have been credit linked during the year, Jinnah added.