NABARD disburses Rs 43,000 cr to Andhra Pradesh, expands grassroots reach
Speaking at The National Bank for Agriculture and Rural Development's 44th Foundation Day celebrations in Vijayawada, Gopal said the bank made significant progress in supporting rural infrastructure, institutional development, and credit expansion across the state.
Explore courses from Top Institutes in
Select a Course Category
PGDM
Data Science
Design Thinking
Others
MBA
Data Science
Product Management
Cybersecurity
Artificial Intelligence
CXO
healthcare
Digital Marketing
Operations Management
Management
Healthcare
MCA
Public Policy
Degree
Data Analytics
others
Technology
Project Management
Leadership
Finance
Skills you'll gain:
Financial Analysis & Decision Making
Quantitative & Analytical Skills
Organizational Management & Leadership
Innovation & Entrepreneurship
Duration:
24 Months
IMI Delhi
Post Graduate Diploma in Management (Online)
Starts on
Sep 1, 2024
Get Details
"In FY25, NABARD disbursed Rs 42,842 crore in loans and Rs 31.83 crore in grants, and inaugurated district development manager offices in three districts," he said.
The launch of new offices in East and West Godavari and Nandyal districts has expanded NABARD's grassroots reach in the state, he added.
Gopal also noted that credit flow of over Rs 29,000 crore was achieved through refinance to rural financial institutions.
Live Events
He highlighted the progress in computerising Primary Cooperative Societies (PCS), calling it a "benchmark for the nation."
He also acknowledged the support of the RBI, the State Level Bankers' Committee, and the Andhra Pradesh Grameena Bank in the digital transformation.
Commissioner of cooperation and registrar of cooperative societies A Babu lauded NABARD's role in modernising and digitising the cooperative credit structure. He emphasised the need for greater convergence to achieve financial inclusion and strengthen cooperatives across all 26 districts.
RBI regional director A O Basheer also appreciated NABARD's efforts in strengthening the cooperative banking framework and enhancing financial stability in rural Andhra Pradesh.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
5 minutes ago
- Hans India
VinFast opens largest showroom in Chennai; plans 35 outlets across India by year-end
Electric vehicle manufacturer VinFast Auto India, a subsidiary of Vietnam-based VinFast, inaugurated its largest retail outlet in Chennai—its second showroom in India—a company official said on Sunday. Located in Teynampet in the city, the 4,700 sq ft facility marks the automaker's first showroom in Tamil Nadu, following its debut outlet in Surat, Gujarat. VinFast plans to establish 35 showrooms across 27 cities in India by the end of the year. The Chennai dealership will showcase the company's premium electric SUVs, including the VF 6 and VF 7, according to a company statement. Speaking on the company's network expansion, VinFast Asia CEO Pham Sanh Chau said, "Chennai's legacy, thriving innovation ecosystem, skilled talent, and advanced infrastructure make it a natural choice for VinFast's first dealership in Tamil Nadu, which also happens to be our largest touchpoint in India." "With this dealership, we are proud to deepen our commitment to this dynamic city and bring our premium electric mobility solutions closer to discerning customers in Tamil Nadu. Chennai represents the spirit of progress, and through our partnership with Maansarovar Motors, we aim to redefine the EV ownership journey," he added. To build a nationwide ecosystem for charging and after-sales service, VinFast has partnered with RoadGrid, myTVS, and Global Assure. Customers can book their preferred VinFast premium electric SUV either at the showroom or through the website with a refundable booking amount of Rs 21,000, the statement said.
Hans India
5 minutes ago
- Hans India
Eight cooperatives join hands to launch 'Bharat' taxi service, onboard 200 drivers
India's cooperative sector is set to challenge ride-hailing giants Ola and Uber with the launch of a taxi service under the brand Bharat by the end of this year, backed by Rs 300 crore authorised capital and having already onboarded 200 drivers across four states. The Multi-State Sahakari Taxi Cooperative Ltd, registered on June 6, represents a consortium of eight prominent cooperatives, including the National Cooperative Development Corporation (NCDC), Indian Farmers Fertilizer Cooperative Ltd (IFFCO), and Gujarat Cooperative Milk Marketing Federation (GCMMF). Last month, Cooperation Minister Amit Shah had indicated that a cooperative taxi service will be launched by the end of 2025, while unveiling a comprehensive cooperative policy for the sector. "The key objective is to ensure better returns to drivers and provide quality, safe and affordable services to passengers," NCDC Deputy Managing Director Rohit Gupta told PTI. The venture operates without any government stake, being entirely funded by the participating cooperatives. The founding members also include Krishak Bharati Cooperative Ltd, National Bank for Agriculture and Rural Development (NABARD), National Dairy Development Board (NDDB), and National Cooperative Exports Ltd (NCEL). Around 200 drivers have already joined the cooperative, with 50 each from Delhi, Gujarat, Uttar Pradesh, and Maharashtra. The cooperative is actively reaching out to other cooperative organisations to expand the network, he said. The cooperative has floated a tender to select a technology partner for developing the ride-hailing application. "We will finalise the technology partner in a few days," Gupta said, adding that the app is expected to be ready by December. A technology consultant and IIM-Bangalore have been roped in to formulate the marketing strategy for the pan-India platform, which will operate as a single app across the country. The service will adopt a cooperative pricing model, with membership drives currently underway to scale operations. The move comes as the cooperative sector seeks to leverage its collective strength to compete with established private players in the rapidly growing ride-hailing market.
&w=3840&q=100)
Business Standard
5 minutes ago
- Business Standard
Eight cooperatives to launch Bharat taxi service, onboard 200 drivers
India's cooperative sector is set to challenge ride-hailing giants Ola and Uber with the launch of a taxi service under the brand Bharat by the end of this year, backed by Rs 300 crore authorised capital and having already onboarded 200 drivers across four states. The Multi-State Sahakari Taxi Cooperative Ltd, registered on June 6, represents a consortium of eight prominent cooperatives, including the National Cooperative Development Corporation (NCDC), Indian Farmers Fertilizer Cooperative Ltd (IFFCO), and Gujarat Cooperative Milk Marketing Federation (GCMMF). Last month, Cooperation Minister Amit Shah had indicated that a cooperative taxi service will be launched by the end of 2025, while unveiling a comprehensive cooperative policy for the sector. "The key objective is to ensure better returns to drivers and provide quality, safe and affordable services to passengers," NCDC Deputy Managing Director Rohit Gupta told PTI. The venture operates without any government stake, being entirely funded by the participating cooperatives. The founding members also include Krishak Bharati Cooperative Ltd, National Bank for Agriculture and Rural Development (NABARD), National Dairy Development Board (NDDB), and National Cooperative Exports Ltd (NCEL). Around 200 drivers have already joined the cooperative, with 50 each from Delhi, Gujarat, Uttar Pradesh, and Maharashtra. The cooperative is actively reaching out to other cooperative organisations to expand the network, he said. The cooperative has floated a tender to select a technology partner for developing the ride-hailing application. "We will finalise the technology partner in a few days," Gupta said, adding that the app is expected to be ready by December. A technology consultant and IIM-Bangalore have been roped in to formulate the marketing strategy for the pan-India platform, which will operate as a single app across the country. The service will adopt a cooperative pricing model, with membership drives currently underway to scale operations. The move comes as the cooperative sector seeks to leverage its collective strength to compete with established private players in the rapidly growing ride-hailing market. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
