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NABARD approved Rs 454 crore in 2009-10 for development projects in Himachal

Shimla: Under Rural Infrastructure Development Fund (RIDF), National Bank for Rural Development (NABARD) approved projects worth Rs 454.13 crore for Himachal in 2009-10, with disbursements touching Rs 300 crore, both a new high for the bank.

“We have out preformed on our targets and this has been possible because of focus on a vast range of initiatives in the credit, infrastructure & non credit sectors for facilitating the state development and also to enhance production and productivity in agriculture and the rural non farm sector,” said ST Raghuraman, chief general manager NABARD Himachal.

Projects sanctioned by the rural bank include Rs 350.15 crore for road & bridges sector, Rs 43.82 crore for minor irrigation projects, Rs 58.39 crore for drinking water projects and Rs 1.77 crore flood protection projects.

Towards production credit, for support to crop Loans, the bank sanctioned Rs 120.00 crore and disbursed it to Cooperative and Gramin banks. Banks in the state were assisted with Rs 139.43 crore for boosting investment credit in agriculture.

Under the Agriculture Marketing Infrastructure Scheme, thirteen projects with a subsidy component of Rs. 2.89 crore were sanctioned.

Under the states innovative Doodh Ganga programme that was launched by the chief minister Prem Kumar Dhumal in September 2010, NABARD has sanctioned Rs 11.48 crore interest free loans for setting up 1123 units.

For Agri Clinic & Agri Business Centers Program a subsidy of Rs 25.07 lakh has been disbursed for 31 cases while Rs 3.02 lakh was sanctioned for setting up 4 rural godowns.

Promotional initiatives covered a spectrum of activities to facilitate capacity building & empowerment of the rural poor, especially women and to improve their access to opportunities and markets.

24 Self Help Promoting Institution (SHPI) proposals were sanctioned for their formation and credit linkage and hand holding support to 5120 SHGs involving a grant assistance of Rs 126.84 lakh was given.

The Regional Office also conducted a study on Kisan Credit Cards, assessment & development of financing of handicrafts, concurrent evaluation of centrally sponsored schemes under macro management in agriculture and prepared a paper on the indebtedness scenario in the state,. This study enabled an insight to be developed into issues critical to rural credit in the state.

As a part of its supervisory functions, the statutory inspection of five banks in the cooperative sector and gramin banks was also carried out during the financial year, said Raghuraman.


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