NABARD Finance 10K CR

K C Panigrahi, Chief General Manager NABARD has said that it’s developmental financial assistance in the State of Odisha has crossed the Rs.10000 crore mark before the end of the 3rd quarter of the current Financial Year(FY).

During the last FY, NABARD extended financial assistance to the tune of Rs.14, 715crore to the State Government and the Banks.
Dr.Panigrahi said that under refinance channel, NABARD has so far extended Rs.4861 crore to the Cooperative Banks for production of crops by about 3 million farmers in the State. Under Long Term Refinance, banks have availed credit support of Rs.624 crore, which have facilitated creation of private sector farm assets.
CGM said that for infrastructure creation, NABARD extended financial support to the tune of Rs. 2118 crore to the State Government. Financial assistance so extended by NABARD, has been channelized by the State Government for creation of rural infrastructure like rural roads & bridges, Lift irrigation projects, rural piped drinking water project, warehousing and irrigation structures etc.
It may be mentioned here that since inception of Rural Infrastructure Development Fund (RIDF) in 1995-96, NABARD has sanctioned cumulative financial assistance of about Rs.19,950 crore to the State Government resulting in implementation of about 2.24 lakh projects. As an impact, road of about 9700 KM, bridge of about 1.20 lakh meter and irrigation in 27.61 lakh Ha land have been created in the State out of RIDF Funds.
Of late, NABARD has started extending credit support to the Odisha State Civil Supplies Corporation (OSCSC) for procurement of paddy from the farmers in the State. Till date, NABARD has extended financial assistance of Rs.3085 crore during the current FY, said Dr.Panigrahi.
Besides providing developmental financial assistance to the State Government and the Banks, NABARD also undertakes numerous developmental and promotional programmes. As on date, NABARD is implementing 51wadi projects under Tribal Development Fund and 108 Watersheds under its Watershed Development Programme, thereby benefitting about 30,000 tribal families and 51,000 rural families in the State, respectively.
Dr.Panigrahi said that under climate Change, NABARD is implementing a project under NAF (National Adaptation Fund) in Nuapada district and the maiden project sanctioned under GCF (Green Climate Fund) is being implemented in 15 vulnerable districts of the State. With a view to sensitizing the rural masses about water conservation, preservation and efficient use of water, NABARD initiated a massive water campaign and has so far conducted more than 5556 village level programs.
As an innovative intervention, NABARD started the SHG Bank Linkage Programme in the Country about 25 years back. During the current FY, NABARD has been instrumental in promotion and linkage of 63731 SHGs and 37852 JLGs in the State of Odisha, said he.
Another important function of NABARD is supervision of the banks purveying rural credit in the State. By the end of the 3rd quarter of the FY, NABARD has conducted statutory inspection of Odisha State Cooperative Bank, Nine District Central Cooperative Banks and Two Regional Rural Banks, said Dr.Panigrahi.

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