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| NABARD celebrates foundation day. | | | Jammu, July 12
National Bank For Agricultural and Rural Development (NABARD): An apex level institution, established on July12, 1982 for providing credit for promotion of Agricultural, small scale Industries, Cottage & Village industries, handicrafts and other rural crafts and other allied economic activities in the rural areas with a view to promoting integrated rural development and securing prosperity of rural areas, has completed 25 years of its journey.
A dedicated service to the nation, NABARD has emerged as a vibrant and key national institution with a strong commitment to rural development. The credit scenario has gone a sca-change in the states. The state of Jammu and Kashmir too has been benefited phenomenally in the ground level credit disbursement and during last 12 years itself , the same has increased from Rs.66.10 crore as on 31 March 1995 to Rs 1367.72 crore as on 31 March 2007.
NABARD, in its Endeavour to help the rural economy to grow, has been taking many innovative measures which include, providing credit limits to cooperative banks and Regional Rural Banks (RRBs) at concessional interest rate to land to the farmers at 7% p.a., introduction of Kisan credit card scheme in conjunction with cooperative Banks, commercial Banks and RRBs about 75066 farmers were issued KCCs by various banks in J&K state involving a total credit limits of R.s.288.50 crore till 31 March 2007.
Introducing schemes for employment generation such as venture capital , rain water harvesting , Agri-clinic & agri business etc., financing infrastructural projects such rural roads, bridges, irrigation , school building and drinking water.(3256 project have been sanctioned to J&K State amounting to R.s.1563.53 crore till 31, March 2007).
For promotion of Agriculture, NABARD is consultancy services to various clients including Govt. for farm and Non-Farm activities and promotion of Non-Form activities by imparting training to the youths for developing entrepreneurial capabilities .NABARD is also inculcating saving habits amongst the poor by forming self help group ( as on 31 March 2007, 2338 SHGs had been linked with banks involving a bank loan of R.s.4.39 crore in J&K State). NABARD has also launched on a pilot basis district Rural Industries Project (DRIP) for intensive industrialization of the selected districts. Two districts of J&K state viz Kathua and Udhampur are covered under the Project.
Chief General Manager, NABARD, Jammu A.K. Mathur said that NABARD is committed to the rural development of the J&K state and it has initially planned for providing an assistance of over Rs. 460 crore to the state for infrastructure development during 2007-08.
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