The developmental support provided by the National Bank for Agriculture and Rural Development (Nabard) to the Orissa government reached an all time high of Rs 2043 crore during 2008-09. It is 68 percent higher than the previous fiscal. It provided assistance of Rs 1217 crore in 2007-08. Sources said, the short term loan disbursement by Nabard to different banks increased from Rs 625crore in 2007-08 to Rs 1258 crore in 2008-09, recording growth of more than 100 percent.
The Orissa State Cooperative Bank (OSCB) availed Rs1205 crore short term credit registering 106 percent growth compared to Rs 584 crore availed during 2007-08. The bank provided refinance for capital formation in agriculture and allied sectors, non farm activities and for investment in the services sector to commercial banks, regional rural banks (RRBs) and cooperative banks.
The refinance aggregated to Rs 411crore in last fiscal, which is an increase of 14 percent over Rs 358 crore achieved during the previous fiscal. A major share of refinance was availed by commercial banks (Rs 153crore )followed by cooperative banks (Rs 137 crore).