Andhra Pradesh has occupied the first position in the country in RIDF (Rural Infrastructure Development Fund), Self-help Group financing, production credit and VVV (Vikas Volunteer Vahini) assistance for the financial year 2002-03.
Having recorded a 10 per cent growth in total refinance/loan disbursements at Rs 2,835.17 crore, which earned the state the covetous position, the National Bank for Agriculture and Rural Development (Nabard) is now targeting a total assistance of Rs 3,000 for 2003-04, said its chief general manager J S Sarangal.
Interacting with media persons on the performance of Nabard in Andhra Pradesh, Sarangal said that of the Rs 2,835.17 crore comprised investment credit at Rs 761.34 crore, Rs 577.11 crore RIDF credit, short-term credit (crop loans) of Rs 1,468.91 crore and Rs 27.81 crore toward weavers' finance and other short-term loans.
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The last financial year was significant for the state which saw robust growth in RIDF assistance. Sanctions grew by 45 per cent to Rs 909.56 crore, while disbursements stood at Rs 577.11 crore.
AP stands first in the state both in terms of sanctions and disbursements under RIDF VIII. Under this category, the state was extended an aid of Rs 335.69 crore for 2,026 Neeru Meeru works for soil and moisture conservation in the community lands in rural areas to supplement water recharge and improve the groundwater table.
Andhra Pradesh also ranks number one in the country with respect to refinance disbursement to commercial banks, involving an amount of Rs 263.8 crore. In this investment credit category for refinance disbursement, regional rural banks (RRBs) were at the second position Rs 256.46 crore.
Sarangal said the state was also in the first position as regards the number of SHGs at 4.8 lakh and assistance for by all banks at Rs 404.04 crore. Of this Nabard refinance to banks was to the extent of Rs 271 crore.
As part of its corporate mission, Nabard has decided at the national level to cover 100 districts under DRIP (district rural industries project) to set up around 2,500 enterprises, providing for employment to 25,000 persons in each district. So far, the project has covered 60 districts in the country, which Kurnool, Medak, East Godavari and Warangal in AP.
Nabard envisaged the credit potential of Andhra Pradesh for the year 2003-04 at Rs 18,886 crore. This estimate is based on the potential linked credit plans prepared for each district in the state, Sarangal said. Nabard general managers B K Mahunta, P Renganathan and P Mohanaiah were also present at the press briefing.