Nabard provides Rs 2,345cr aid for TN, Pondicherry

National Bank for Agriculture and Rural Development (Nabard) has announced that it had provided assistance of over Rs 2,345 crore for various developmental projects in Tamil Nadu and Pondicherry in 2005-06.

The assistance includes Rs 1,827 crore as refinance to banks and Rs 518 crore to government of Tamil Nadu for rural infrastructure, a Nabard release said.

During 2005-06, Nabard sanctioned Rs 604 crore to Tamil Nadu Government for various infrastructure projects. It had released Rs 516 crore, which included Rs 189 crore for roads and bridges, Rs 92 crore for irrigation projects, Rs 158 crore for schools, Rs 30 crore for power, Rs 34 crore for drinking water facilities and Rs 13 crore for rural health centres and projects.

Cumulative disbursements from Nabard to the state under RIDF (Rural Infrastructure Development Fund) now aggregate Rs 2455 crore.

Nabard sanctioned subsidised refinance of Rs 547 crore to co-operative banks and RRBs (regional rural banks) for providing crop loans to farmers. Credit limits of Rs 183 crore were additionally sanctioned to 11 DCCBs and RRBs to finance agricultural jewel loans.

In a bid to promote handloom sector, Rs 197 crore was sanctioned to co-operative banks for covering 729 weavers co-operative societies, Co-optex and Pontex.

During the year, Nabard also released medium-term refinance of Rs 446 crore to various banks. Self help groups (SHGs) continued to dominate the scene with getting Rs 270 crore. Nabard support to the SHGs helped banks to finance over two lakh SHGs by now and cumulative refinance for SHGs exceeds Rs 1168 crore, the release said.

Other major activities refinanced were mechanisation (Rs 29 crore), dairy development (Rs 30 crore), minor irrigation (Rs 13 crore) and non-farm sector (Rs 65 crore).

It also said that Nabard and State Bank of India are jointly financing the state's biggest and modern agricultural marketing complex in private sector at Nagarkoil at a cost of Rs 30 crore.

This complex will serve as a feeder centre for agricultural produce in Kerala and other markets.

Nabard will co-finance similar projects in Tamil Nadu in a big way during the coming years, it added.

To train farmers, rural youth and women to take up farm and non-farm activities, Nabard, in collaboration with IOB and Indian Bank, has set up a regional training centre at Karaikudi. During 2005-06, it trained 546 people, of which 316 trainees also received bank loans to set up units.