VIJAYAWADA: The National Bank for Agriculture and Rural Development (Nabard) has extended Rs 27,992 crore loans to Andhra Pradesh during the 2019-20 financial year, an all-time high. Compared to Rs 19,801 crore loans extended to the State in 2018-19, it is 41 per cent more.
According to a press release issued by Nabard, the total refinance extended to banks in the State for supporting short term crop loans and long term agriculture financing during the financial years 2019-20 touched Rs 20,515 crore, registering a growth of 29 per cent from the previous fiscal.
In line with Nabard’s mandate of strengthening rural financial institutions, a major portion of refinance was given to rural cooperative banks, followed by regional rural banks and commercial banks.
Further, Rs 1,385 crore was released directly to the District Central Cooperative Banks for meeting short term credit requirements under a multi-purpose credit limit. Under Rural Infrastructure Development Fund (RIDF), Nabard has sanctioned projects of Rs 1,199 crore and released Rs 1,200 crore during the year to the State government for completing the ongoing projects.
To supplement efforts of ‘per drop more crop’ component of Pradhan Mantri Krishi Sinchayee Yojana, Nabard has sanctioned Rs 616 crore under Micro Irrigation Fund. A sum of Rs 31.27 crore was released to Sangam Dairy for dairy processing in Guntur district and Rs 9.72 crore was sanctioned to Gama Biotech Farms Pvt. Ltd., Krishna District, for setting up food processing units.
Nabard has released Rs 11.40 crore to AP State Warehousing Corporation for construction of three warehouses, sanctioned Rs 1,931 crore loan for completion of Chintalapudi lift irrigation project, including drinking water supply in West Godavari and Krishna districts, and Rs 819 crore to the AP Water Resources Development Corporation. Nabard also gave Rs 4,030 crore loan to AP State Civil Supplies Corporation for paddy procurement.
