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Rs 10,012 Crore Aid Given To UP In 2017-18: Nabard

 Agencies |  2018-04-25 15:27:39.0  0  Comments

Rs 10,012 Crore Aid Given To UP In 2017-18: Nabard

Lucknow: Development bank Nabard said it has provided an assistance of Rs 10,012 crore to Uttar Pradesh during 2017-18 to facilitate overall development with special focus on agricultural credit. "This has been achieved through commercial banks, RRBs and cooperatives, infrastructure development through dedicated funds, strengthening of rural financial institutions, women empowerment through Self Help Groups, micro-finance and several other new initiatives," Nabard Chief General Manager A K Panda said in a release here.

Panda said digital transformation of RFIs and rural enterprises, development plans for Bundelkhand region, crop residue management in western UP and irrigation infrastructure and its command management would be on the priority list of the National Bank for Agriculture and Rural Development (Nabard)for 2018-19. He said the financial assistance extended to the state during 2017-18 included Rs 8,450 crore released to commercial banks, Regional Rural Banks and Cooperative Banks for financing agriculture allied and off farm sectors in the state by way of short and long term refinance support. Sanctions under RIDF loans aggregated Rs 1,706 crore and disbursed amount was Rs 1,500 crore for rural infrastructure projects including Rs 1,050 crore for Kanhar irrigation project in Sonbhadra. On Nabard's future road map, Panda said it has projected a ground level credit flow target of Rs 2,37,801 crore for 2018-19 for financing by banks under priority sectors such as agriculture, SMEs and other priority sector in Uttar Pradesh which is 17 per cent higher than the projections of Rs 2,10,910 crore for 2017-18. The focus would be on doubling of farmers income and rural employment generation through skill and enterprise development in cluster mode, he added.

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