In a bid to encourage refinancing to warehousing projects, the National Bank for Agriculture and Rural Development (Nabard) will extend financial assistance, by way of refinance, to commercial banks, regional rural banks and cooperative banks against the loans extended by them for construction of warehousing infrastructure for agricultural commodities.
In a meeting with bankers in state on Wednesday, H R Dave, CGM, Nabard- Gujarat RO explained the details and modalities of the refinance scheme, which was conceptualised out of a dedicated fund of ' 2,000 crore allocated in the Union Budget. The refinance scheme incentivises banks to accelerate the pace of creation of quality warehousing facilities for agricultural commodities, particularly for reducing postharvest losses. The scheme will help in creation of around 09 million tonnes of additional storage capacity in the country.
