Latest news with #NationalBankforAgricultureandRuralDevelopment
The Hindu
13 hours ago
- Business
- The Hindu
NABARD celebrates 44th foundation day, reaffirms commitment to rural development
The National Bank for Agriculture and Rural Development (NABARD) marked its 44th Foundation Day here on Monday, reaffirming its commitment to sustainable and inclusive rural development. A short documentary titled 'Roots of Change' and publications such as 'NIDHI' were released during the event. It also featured exhibitions by FPOs and artisans and recognised exemplary PACS and DCCBs. 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.
New Indian Express
3 days ago
- Business
- New Indian Express
Declining agri share in GDP may weaken Tamil Nadu's social fabric: PTR
CHENNAI: IT and Digital Services Minister Dr Palanivel Thiaga Rajan on Thursday acknowledged the declining share of agriculture in the state's GDP - driven in part by the rapid growth of electronics manufacturing - but cautioned that unchecked structural imbalances in the rural economy could weaken the social fabric. 'It is vital to the health of society that small and medium-sized farm organisations, especially in the plains and hill regions, receive targeted support to survive and grow,' he said, while speaking at the 44th Foundation Day of National Bank for Agriculture and Rural Development's (NABARD) Tamil Nadu Regional Office. 'A vibrant middle - whether in class or enterprise - is the hallmark of a stable democracy. Without it, stratification leads to disparity,' he said. His comments come as the state doubles down on its push to become a $1 trillion economy, with rural infrastructure, digital agriculture, and climate resilience seen as critical enablers. The minister urged NABARD to deepen its role in facilitating inclusive growth through innovation in agri-finance and institutional capacity-building. He released the Indicative Unit Cost booklet for FY2025-26, a key reference tool for banks to assess long-term farm loan requirements, and launched NABTRACE, a mobile application designed to enable traceability in agricultural commodity supply chains. He also commended NABARD's contributions to the rural economy through special funds such as RIDF and NIDA, and its support for computerising all Primary Agricultural Credit Societies (PACS) in the state.
Time of India
3 days ago
- 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
4 days ago
- 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.
The Hindu
6 days ago
- Business
- The Hindu
Extend necessary credit to farmers: Agriculture Minister
Agriculture Minister Tummala Nageswara Rao has called upon banks to extend necessary credit facilities to the farming community in time and in sufficient quantity. Farmers will repay their loans under any circumstances, he declared, addressing the 44th Foundation Day celebrations of the National Bank for Agriculture and Rural Development (NABARD) organised by the bank's Telangana Regional Office here on Tuesday. Appreciating the role of NABARD in improving the credit flow to the agriculture sector, the Minister also urged the banks to lend to agriculture or any other allied activity. Noting that NABARD had played an excellent role in changing the banking sector, particularly the rural cooperative institutions and the regional rural banks, Mr. Rao sought bank support for provision of infrastructure to agriculture and horticulture universities in Telangana. He also recalled NABARD's assistance for completion of 30 medium irrigation projects that were languishing for lack of budgetary allocation at that time. Chief General Manager, NABARD, Telangana, B. Uday Bhaskar said as a development financial institution NABARD is into financial, development and supervisory roles. The bank supports various irrigation, connectivity and school projects under its Rural Infrastructure Development Fund (RIDF) to the tune of ₹1,100 crore. He said NABARD has refinanced to the extent of ₹9,673 crore as refinance support for self help groups. It is also supporting focus on natural farming through its JIVA programme. The bank is also the National Implementing Agency for the Climate Change Fund and actively involved in policy framing and implementation of climate change-related projects in the country. The CGM said NABARD has supported 23 rural haats with an assistance of ₹72.86 crore and 43 rural marts with ₹72.12 crore, conducted more than 200 skill development programmes benefiting over 4,500 rural youth and 25,000 SHG women in Telangana. NABARD has taken up the task of computerisation of PACS. He said RRB and cooperative banks in Telangana are ahead in computerisation of operations. TGCAB president M. Ravindar Rao thanked NABARD for implementing innovative programmes at the grassroots level. Registrar of Cooperative Societies Surendra Mohan told the gathering that the Telangana government accords top priority to rural development and development of women and farmers. NABARD has stood with the State government in modernising, revitalising and expanding the cooperative landscape. A total of 289 PACS in Telangana have been strengthened through refinance and infrastructure development, including the world's largest grain storage project in Gambhiraopet PACS. NAFSCOB Chairman K Ravinder and State Bank of Hyderabad, Hyderabad Circle, CGM Radhakrishnan spoke. A booklet on Unit Cost that works as a handbook for bankers to decide the credit for various agriculture and allied activities, a report on the Impact Evaluation Study on Farmer Producers Organisations and a booklet on a-IDEA of NAARM were released.
