Business Daily from THE HINDU group of publications
Tuesday, Aug 22, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 22, 2006 |
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Industry & Economy
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Infrastructure States - Andhra Pradesh Nabard to give Rs 990 cr to AP under RIDF Our Bureau
Nabard has also agreed to increase refinance to support APCOB from Rs 1,180 crore to Rs 1,530 crore.
Hyderabad , Aug. 21 The National Bank for Agriculture and Rural Development (Nabard) has agreed to provide Rs 990 crore to Andhra Pradesh under the Rural Infrastructure Development Fund within two weeks of submission of proposals. Dr Y.S.P. Thorat, Chairman of Nabard, asked the State Government to submit revised proposals to get the fund. He made this assurance when he met Dr Y.S. Rajasekhara Reddy, the Chief Minister, here on Monday. He also agreed to increase refinance to support APCOB (AP State Cooperative Bank) from Rs 1,180 crore to Rs 1,530 crore under short-term loans. He also assured support in training and capacity building of Rythu Mitra Groups. He said the bank would examine a proposal for creation of post-harvest and marketing infrastructure in villages, a Government release said here. The Nabard Chairman agreed to refinance the housing loans under Indiramma programme at lower interest rates. Earlier, Mr Vasantha Nageswara Rao, President of APCOB, appealed to the Chief Minister to ask Nabard to clearly specify the loan programme for 2006-07, keeping in mind the increase in lending cooperatives in the State. He submitted a memorandum to the Chief Minister ahead of the latter's meeting with the Nabard Chairman. "For 2006-07, the national bank has not yet made clear its loaning policy under long-term category. As a result, APCOB is unable to indicate its own loaning programme and make available funds for loans through district cooperative banks and primary agricultural cooperatives," he said.
More Stories on : Infrastructure | Agricultural Institutions | Andhra Pradesh
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