National Bank for Agriculture and Rural Development (Nabard) has pumped into the rural banking sector of Madhya Pradesh a whopping Rs 2,385.39 crore as refinance, which is 5 per cent higher than the previous year.
Besides, it disbursed loans to the tune of Rs 602.79 crore to the MP government for bolstering rural infrastructure, taking the total disbursement in the state during the year to Rs 2,988.18 crore. Refinance assistance to banks for term lending in farm and non-farm sector during the current year stood at Rs 224.23 crore.
The refinance disbursed to various banks was mainly for farm mechanisation, minor irrigation, non-farm sector, rural housing, Swarnjayanti Gram Swarozgar Yojna, rural transport and dairy development. In addition, refinance assistance of Rs 2,161.16 crore, a growth of 22 per cent over the previous year, was provided for short-term credit operations to cooperative and regional rural banks during the year, a Nabard official said.