NABARD celebrates 44th foundation day, reaffirms commitment to rural development
In his welcome address, NABARD General Manager (GM) K.V.S. Prasad underlined the institution's commitment to its developmental mandate and stakeholder partnerships. NABARD A.P. Chief GM M.R. Gopal presented the achievements of the regional office during financial year 2024–25.
He highlighted that NABARD A.P. disbursed a total of ₹42,842 crore in loans and ₹31.83 crore in grants, supporting critical infrastructure and institutional development. With the inauguration of new district development manager (DDM) offices in East Godavari, West Godavari, and Nandyal, NABARD's grassroots reach has expanded in the State. He underscored the credit flow of ₹29,827 crore in refinance to rural financial institutions.
Commissioner of Cooperation and Registrar of Cooperative Societies, Babu A., commended NABARD's contribution to the modernisation and digitisation of the cooperative credit structure in Andhra Pradesh. He acknowledged NABARD's continuous support in building institutional capacities and emphasised the need for further convergence to achieve financial inclusion and cooperative strengthening across all 26 districts.
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Time of India
10 hours ago
- Time of India
With a pilot, NABARD taps into carbon credit market in Karnataka
Bengaluru: In its first carbon credit initiative, NABARD has launched a pilot project in Karnataka, to generate carbon credits through biomass management and border tree plantations. The project was rolled out by National Bank for Agriculture and Rural Development (NABARD) Consultancy Services, a wholly-owned subsidiary of NABARD, in collaboration with Karnataka horticulture and forest departments and funded by Rabo Bank, a multinational banking and financial services company from the Netherlands. The move is aimed at helping farmers grow crops that guzzle greenhouse gases, earn carbon removal units through biomass management and tree plantations. The pilot project involves 3,500 mango farmers in Koppal district. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru According to horticulture department officials, the pilot focuses exclusively on mango plantations that are less than five years old. "We identified 11 eligible plant species, but this time only mango was taken up. Border tree plantations are also mandatory under the project. The forest department will provide saplings for free, and we will be signing an agreement with them in two weeks," says Shamla Iqbal, secretary, horticulture & sericulture department. The pilot, signed last July, has seen delays in farmer payments due to the complex compliance and auditing requirements. "This is a learning process for all partners. Some delays were inevitable. Farmers will receive payments after biomass assessment and carbon credit calculations are completed," she clarifies. The horticulture department hopes that once the first round of payments is made, more farmers will come forward to join the initiative. The earnings potential for farmers under this scheme is still being assessed. Officials cited the success of a similar initiative in Andhra Pradesh's Anantapur district, where farmers reportedly earn between Rs 20,000 and Rs 40,000 per hectare from carbon credits. If everything goes as planned, groundwork such as border plantations and further biomass assessments may begin in Karnataka by Sept. Full-scale implementation depends on the outcome of ongoing audits and clearances. But many farmers are not buying it As a new era in climate-linked farming takes shape, several farmers' groups are pushing back, calling the initiative exploitative and unjust. Associations argue that farmers cannot be allowed to bear the brunt of any company's pollution. Chukki Nanjundaswamy, farmer activist associated with the Karnataka Rajya Raitha Sangha (KRRS), says: "It is a natural product turned into yet another commodity, just like seeds that once belonged to farmers but now make them mere buyers. Carbon credits are driven by western nations responsible for climate change, yet they expect the global south to find solutions. Big banks funding coal and power projects are now using carbon credits for greenwashing. With mango prices crashing, farmers' vulnerability is being exploited. We cannot be held responsible for a global climate crisis — carbon credits are nothing but a greenwash." N Chinnappa Reddy, president, Kolar District Mango Growers Association, says: "We have little information from NABARD. They told us only the basics — that certain plants would earn us money — but two years have passed with no progress. We don't even understand the basics of carbon credits. If you ask us about our view, we honestly don't even know the basics of carbon credits." Karnataka has around 1.5 lakh hectares under mango cultivation and over 2.8 lakh mango farmers with key mango growing districts including Kolar, Ramanagara. India's potential vs farmers' skepticism With organisations like the European Union and several global corporations looking to buy carbon credits (CC) from other countries, and a domestic market set to launch next year, experts say the CC demand is expected to grow. However, farmer skepticism and lack of clarity on payment models remain major challenges. "Carbon credits can come from either avoidance — using alternative technologies to cut emissions — or carbon capture, such as direct air capture (DAC) or carbon capture, utilisation, and storage (CCUS). Agriculture offers a huge opportunity in CCUS," says Subhradeep Das, a developmental economist. "India doesn't yet have a domestic carbon market. Currently, companies participate in voluntary carbon markets, with buyers like tech giants (Microsoft, Google) and oil and gas firms. South India, with its large farmlands, cash crops, and agroforestry potential, stands out as a hub for such initiatives," he says. "Global carbon credit prices remain volatile due to geopolitical factors, but demand is set to surge by 2030 with Paris Agreement targets. " Josh Wycliffe, a resident of Kolar and COO of the International Solar Alliance, a treaty-based intergovernmental organisation under the UN system, says: "Though regulatory hurdles exist, farmer risk is low since plantations are already in place. With demand soaring due to corporate ESG targets, a strong cooperative can connect farmers to big buyers, ensuring fair pricing and steady income."
The Hindu
a day ago
- The Hindu
₹26 crore allotted for Virudhunagar district under Agricultural Infrastructure Financing Facility
The district administration has invited applications from interested persons for establishing post-harvest management infrastructure in Virudhunagar district. In a statement, Collector N. O. Sukhaputra said a total of ₹26 crore had been allotted for Virudhunagar district under Agricultural Infrastructure Financing Facility. The scheme would be implemented by the Department of Agricultural Marketing and Agri Business. The beneficiary could get a maximum of ₹2 crore loan under the scheme for a term of seven years. An interest subvention of 3% would be given to beneficiaries. Under the scheme, godowns and silos, transport facilities, processing units and facilities for ripening fruits in scientific ways could be set up. Besides, facilities for production of organic inputs, infrastructure for modern and precision farming and creating of region-wise crop cluster for export could be created. Primary agricultural cooperative societies, cooperative credit societies, farmers producers organisations, self-help groups for women, individual farmers could be the beneficiaries. The facilities would help storage of food grains without any loss and help to sell them at the right time to get right remuneration. Interested persons and organisations can approach nationalised banks or NABARD or the Department of Agricultural Marketing and Agri-Business. Further details could be obtained from the statement said.
Time of India
2 days ago
- Time of India
Hydraulic parking facility at Maurya Lok lies idle
1 2 Patna: Despite being inaugurated five months ago, the hydraulic multi-level car parking facility at Maurya Lok Complex remains underutilised with vehicles still being parked haphazardly on the premises. Patna Smart City Limited (PSCL) has resolved to take corrective measures, including the imposition of fines on those parking outside the designated facility. Animesh Kumar Parashar, managing director of PSCL, said the vehicles of employees working in various govt offices located within the Maurya Lok Complex would now be required to use the multi-level parking facility. "For this, we are asking for a list of vehicle numbers from all the offices. There are around 40 offices here, including the passport office, different banks, NABARD, HUIDCO and various food and garment shops. They have to park their vehicles inside the parking facility. The parking will be done on a first-come, first-served policy," Parashar said. He added, "Our first priority is to fill this multi-level car parking. If it remains empty while cars are still being parked outside, a fine will be imposed. Even visitors must use the parking facility. They can also pre-book parking slots." The hydraulic multi-level parking structure, constructed at a cost of over Rs 28 crore, is equipped with a shuttle dolly system that transports cars between the ground level and upper floors. The facility also includes parking sensors, CCTV surveillance and automatic number plate recognition (ANPR) cameras. Two parking units have been built — one inside the Maurya Lok premises and another near Budh Marg — with a combined capacity to accommodate 156 vehicles. Of these, one tower is designed for 96 vehicles and the other for 60. Although the facility was inaugurated in Feb this year, fewer than 20 cars use it daily.
