NABARD sets new record, lends Rs 2,842 cr in Bihar 


Patna,(BiharTimes): The National Bank for Agriculture and Rural Development (NABARD) extended financial support of Rs 2,842 crore to Bihar in financial year 2012-13.Thus it increased by record 65 per cent over the last year.

Talking to mediapersons on Friday, its chief general manager (CGM) D V Deshpande said, NABARD has been a major contributor in development of rural infrastructure in Bihar and sanctioned new projects worth Rs 1,490 crore in different sectors such as roads, bridges, irrigation etc in 2012-13.
According to him NABARD provided Rs 480 crore for the construction of bridges as part of the India-Nepal border road project.

Computerization of almost 95 per cent of cooperative banks in the state and linking them through core banking system is another achievement of NABARD. 

Deshpande said the remaining co-operative banks would be linked by the end of this month. The move would help maintain transparency in banking transactions.

He informed that NABARD had also helped in the formation of nearly 1,400 new farmers club in the last financial year. The clubs would educate farmers to take up developmental activities through credit. It has also promoted the formation of Self-Help Groups (SHGs) and Joint Liability Groups (JLBs). 

NABARD provided Rs 1,598 crore to regional rural banks and cooperative banks in the state to meet the credit requirement of farmers. It also administered Interest Subvention Scheme of the Union and state governments, so that the farmers paying their loans regularly get further loan at an interest rate of only three per cent.

So far NABARD had sanctioned cumulative amount of Rs 6,906 crore to the state government for implementing 11,730 projects.

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