The Hindu Business Line : AP: Disbursements by Nabard increase 11 pc

THE National Bank for Agriculture and Rural Development (Nabard) has disbursed Rs 2,572.59 crore in Andhra Pradesh during 2001-02, an increase of 11 per cent when compared to the previous year.

The bank disbursed Rs 1,380.43 crore towards short-term credit (crop loans), Rs 515.32 crore under the Rural Infrastructure Development Fund (RIDF), Rs 404.41 crore towards investment credit, Rs 197.72 crore for self-help groups (SHGs), Rs 48.06 crore towards weavers finance and Rs 26.65 crore for medium-term crop loans conversion.

For the current fiscal, according to the Nabard Chief General Manager, Mr J. R. Sarangal, it had been targeted to sanction Rs 712 crore towards investment credit and Rs 1,500 crore short-term credit for seasonal agricultural operations.

Mr Sarangal told newspersons here on Thursday that under the RIDF, 1,067 projects were, so far, completed in the State bringing 1.06 lakh ha of degraded land under cultivation, laying 7000 km of rural roads and creating recurring and non-recurring employment opportunities to the tune of 35.82 lakh mandays.

He said that the State occupied first position in the country in RIDF sanctions, SHG financing, production credit and Vikas Volunteer Vahini programme. It stood in the fourth position with regard to investment credit disbursements.

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