NABARD playing pivotal role in overall development of UP

A SUM OF RS 16 CRORE WAS DISBURSED FOR FINANCIAL INCLUSION AND TECHNOLOGY UP GRADATION OF RRBS AND COOPERATIVE BANKS.

NIT No.: 01 (2022-23)

LUCKNOW: Uttar Pradesh regional office of NABARD has been playing a pivotal role in facilitating the overall development of the state through its various refinance, infrastructural and development products. SK Dora, chief general manager of NABARD said NABARD provided financial assistance of Rs. 16,854 crore for the agriculture and rural development of Uttar Pradesh during FY 2021- 22 which was 26% higher than the FY 2020-21.

He also said besides refinance assistance to financial institutions and loan assistance to state governments for rural infrastructure, it has been supporting the rural economy through various promotional and developmental interventions with grant assistance.

The developmental interventions by NABARD also marked a quantum leap from a total grant support of Rs 47 crore during 2020-21 to Rs 71 crore during 2021-22 recording a phenomenal 50% growth.

The financial assistance during 2021-22 included Rs 12,488 crore to commercial banks, regional rural banks (RRBs) and cooperative banks for financing agriculture, allied and off farm sectors in the state through short term and long term loans.

Sanctions under rural infrastructure development fund (RIDF) loans aggregated to Rs 1915 crore along with a total disbursement of Rs 1512 crore during the year 2021-22 for rural infrastructure projects.

Projects like Saryu Nahar Pariyojna, Arjun Sahayak and Madhya Ganga Pariyojna were supported for creation of irrigation potential of 16 lakh hectares with a financial assistance of Rs. 878 crore under long term irrigation fund (LTIF).

A total of 685 primary agriculture cooperative societies (PACS) were provided assistance by NABARD to function as multi service centres in the state.