The National Bank for Agriculture and Rural Development (NABARD) came forward today to fund Telangana in the areas of agriculture as well as related activities.
The bank would also back agro-related activities, greenhouse-based cultivation, connectivity of rural bridges as well as building social infrastructure, among others, the release said.
NABARD Chairman Harsh Kumar Bhanwala called on Telangana Chief Minister K Chandrashekhar Rao today evening and discussed the issue, the release said.
According to the release, the NABARD Chairman told Rao that the bank has been financing all kinds of agriculture related activities in several states.
Out of 2,000 projects which NABARD had sanctioned in the erstwhile undivided state of Andhra Pradesh, 959 projects are in Telangana, it said.
However, he suggested that some of these projects which are moving slowly have to be strengthened. Rao agreed to review them and find out gaps so that their functioning could be improved, it said.
The Telangana Chief Minister explained in detail about the concept and theme of 'Mission Kakatiya' (revival of tanks) to NABARD officials.
Rao said that his government has taken up revival of tanks under 'Mission Kakatiya' and NABARD could fund it. The NABARD chairman agreed to fund the project, the release said.
The NABARD Chairman also told Rao that once the state co-operative bank is bifurcated, they would finance what would be known as the Telangana Co-operative Bank to the tune of Rs 800 crore to Rs 900 crore, it said.
