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Time of India
19-07-2025
- Business
- Time of India
Minister asks banks to avoid under financing
1 2 Ranchi: Agriculture minister Shilpi Neha Tirkey on Friday asked the banks to avoid under-financing of farmers adding the financial institutions should also go out of their ways to sanction their loans. The minister was addressing the 44th foundation of National Bank for Agriculture and Rural Development (NABARD). The minister also announced that NABARD would soon launch the e-kisan credit card portal through which the loan applications would be accepted or rejected in three to four days adding that at present many farmers have to visit banks for months for loans. The minister stated, "Under-financing of farmers by some of the banks is a crime. If a farmer does not get money for his plans it is unlikely that he or she would implement them properly which in turn would affect his ability to repay." She stated that there are several schemes in agriculture department but different agencies are working in isolation adding that state government, NABARD and banks should work as a team to achieve the government targets. She also emphasized on creating awareness among farmers on government schemes while saying, "Many of them are unable to get benefits of projects due to lack of knowledge. For instance only a small proportion of farmers are associated with primary agricultural credit society and getting subsidized seeds." Speaking to reporters after the function she stated that heavy rainfall this monsoon has caused damages to millet, pulses and oilseeds crops but it has not affected paddy so far. She said, "Direction would be issued to deputy commissioners to assess the situation and if needed a meeting would be held at state level as well." While addressing the function secretary finance Prashant Kumar stated that in the last 25 years NABARD has sanctioned loans amounting to Rs 24,500 crore under the Rural Infrastructure Development Fund out of which Rs 19,500 has been received. Earlier a panel discussion on 'Fostering Rural Entrepreneurship for Inclusive Growth' was also held. Secretary rural development K Srinivasan and experts from various organizations participated in the talk. Several progressive farmers were also honored on the occasion. Chief general manager NABARD Gautam Kumar Singh, convener State Level Banker's Committee Guru Prasad Gond, deputy general manager Reserve Bank of India Anamika Sharma were among the participants.
Time of India
18-07-2025
- Business
- Time of India
NABARD sanctions Rs 4,613 cr for rural projects in Arunachal: GM Mishra
NABARD has sanctioned Rs 4,613 crore for 485 infrastructure projects in Arunachal Pradesh, boosting rural connectivity and livelihoods. The institution is committed to inclusive growth, driving rural credit planning, digitisation, and climate-resilient farming. Commemorating its 44th foundation day and the International Year of Cooperatives, NABARD reaffirmed its dedication to building self-reliant rural economies in Arunachal Pradesh. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The National Bank for Agriculture and Rural Development ( NABARD ) has sanctioned Rs 4,613 crore for 485 infrastructure projects across Arunachal Pradesh These projects, supported under the Rural Infrastructure Development Fund (RIDF), have significantly contributed to enhancing rural connectivity, irrigation systems, and livelihood generation, NABARD General Manager Damodar Mishra said in Itanagar on the 44th foundation day of the bank here, Mishra said the institution remains deeply committed to inclusive growth and sustainable rural development in the state."NABARD has not only financed critical infrastructure but has also been driving rural credit planning, the digitisation of primary agricultural credit societies (PACS), promotion of micro-enterprises, and climate-resilient farming practices," Mishra added that NABARD's vision for Arunachal Pradesh is aligned with national priorities and focuses on building self-reliant, cooperative-led rural event also served to mark the global observance of the International Year of Cooperatives, declared by the United Arunachal Pradesh regional office organised a sensitisation programme on the theme 'Cooperatives Build a Better World', underscoring the importance of cooperative institutions in achieving equitable programme was attended by Rajiv Gandhi University (RGU) Vice Chancellor Prof S K Nayak, along with senior officials from the Department of Cooperation, RBI, SIDBI, NCDC, Arunachal Pradesh Rural Bank, cooperative unions and other partner the occasion, Chief Minister Pema Khandu commended NABARD's role in driving rural progress."NABARD has been instrumental in supporting Arunachal's rural aspirations, from infrastructure to innovation. We value this long-standing partnership," Khandu said in a post on the occasion, a booklet titled "NABARD in Arunachal Pradesh" was released, chronicling the institution's contributions to the state.
