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NABARD projected a ground level credit flow target of Rs 2,37,801 crore for 2018-19

4/24/2018

Agencies, Lucknow Looking ahead for accelerated growth in Uttar Pradesh, National Bank for Agriculture and Rural Development (NABARD) has projected a ground level credit flow target of Rs 2,37,801 crore for 2018-19. The credit flow would be used for financing by banks under priority sectors such as agriculture, SMEs and other priority sector in the state of UP which is 17 per cent higher than the projections of Rs 210910 crore for 2017-18. However, this fiscal, the focus would continue to be on doubling of farmers income through initiatives like Farmers Producer Organisations, Climate resilient agricultural practices and low cost innovative techniques, digitization of Rural Financial Institutions (RFIs) and Rural development projects. Besides rural employment generation through skill and enterprise development in cluster mode and support to the UP government for development of infrastructure to the tune of Rs 2,000 crore under Rural Infrastructure development Fund and more than Rs 3,000 crore under Long term Irrigation Fund as per State Plan and requirement. According to Chief General Manager NABARD A K Panda here on Tuesday, the bank has been playing a pivotal role facilitating the overall development of the State with special focus on Agricultural credit through Commercial banks, RRBs and Cooperatives, Infrastructure development through dedicated Funds, Strengthening of Rural Financial Institutions including short term cooperative credit structure, Women empowerment through Self Help Groups, Micro-finance through Joint Liability Groups and several other new initiatives on Natural Resources Management with special focus on Soil and Water conservation. He said core business operations of NABARD in the state during 2017-18 reached Rs 10,012 crore. The financial assistance during 2017-18 included Rs 8,450 crore released to commercial banks, Regional Rural Banks and Cooperative Banks for financing to 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 a sum of Rs 1,500 crore for rural infrastructure projects including Rs 1,050 crore for Kanhar irrigation project in Sonbhadra.

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