Nabard supports Telangana with over Rs 20,000 crore for FY21
Nabard Telangana provided an amount of Rs 13,915.22 crore to the banks for onlending towards crop loans as well as term loans.
Hyderabad: Nabard is playing a significant role in the socio-economic development of Telangana by supporting the banks for expansion of credit in rural areas, State Government in creation of rural infrastructure, grant-based interventions, institutional development and other policy interventions for the overall development of rural Telangana and achieving the vision of the State Government of ‘Bangaru Telangana’.
Y K Rao, CGM, Telangana has informed that during FY 2020-21, Nabard Telangana provided an amount of Rs 13,915.22 crore to the banks for onlending towards crop loans as well as term loans. Out of this, Rs 100 crore was disbursed to the beneficiaries of Nabard-supported watershed areas.
An amount of Rs 6,633 crore was provided to the State for creating enabling infrastructure in the rural areas. More than Rs 4,600 crore was sanctioned to Mallanna Sagar Reservoir under Kaleshwaram Lift Irrigation Project and an amount of Rs 2,394.70 crore was disbursed during the year. An amount of Rs 2,500 crore cash credit was sanctioned and disbursed to Telangana State Civil Supply Corporation for procurement purposes.
Thus, the total financial support extended by Nabard for various interventions is Rs 20,549 crore during the financial year of 2020-21, an increase of 25.09 per cent compared to Rs 1,6312.50 crore in 2019-20.
During the year 2020-21, grant to the tune of Rs 41.39 crore was provided by Telangana Regional Office of Nabard as against Rs 33.18 crore during the previous year. More than Rs 26 crore was disbursed for various farm sector initiatives such as watershed development, climate change projects, supporting FPOs and innovative projects etc.
Nabard promoted nearly 330 Farmer Producer Organization (FPOs) and is hand holding them for the last four years. During the year, Nabard Telangana facilitated credit linkage of 57 FPOs through Nabikisan and various commercial banks.
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