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| NABARD celebrates Silver Jubilee | | | Early Times Reporter
Jammu | Sep 22
Established in July 1982, the NABARD, an apex level institution has completed its 25 years journey. To organize the occasion, a Silver Jubilee function was organized by the J&K Regional office, here.
The occasion was graced by Minister for Roads and Buildings, Gulchain Singh Charak, as chief guest. Other important guests included senior bankers from SBI, PNB and other banks as also Departmental heads of many Government departments, many NGOs were also present on the occasion.
The function was presided over by AK Mathur, Chief General Manager of J&K Regional Office of NABARD. Earlier, before inaugurating the Silver Jubilee function, Minister planted a sapling at the staff NABARD at Channi Rama, Narwal.
In his inaugural speech, Mr Mathur informed the gathering that after quarter of a century’s dedicated service to the nation, NABARD has emerged as a vibrant and key national institution with a strong commitment to rural development. He informed that the credit scenario has undergone a sea-change in the country and the Jammu and Kashmir State too has been benefited phenomenally in the ground level credit disbursement as 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. He said that NABARD, in its endeavour to help the rural economy to grow, has been taking many innovative measure which include,
Speaking on the occasion Gulchain Singh Charak lauded the role of NABARD in the development of J&K State and said that NABARD has turned out to be a boon for the state as a large number of unfinished rural infrastructure projects and schemes were taken up by the state government from the funds released by NABARD out of its Rural Infrastructure Development Fund (RIDF). He impressed upon the banks and NABARD to keep a balanced approach in overall development of the entire J&K state.
The function concluded with the vote of thanks by PN Sarangal, DGM, NABARD (Srinagar Office).
A detailed presentation was also made on the occasion by Munish, DGM NABARD highlighting the major achievements of NABARD in the last 25 years of its existence since its inception. It was informed that in J&K state, NABARD has sanctioned Rs.1565.53 lakh to the State Government under RIDF since inception. The sanction covers 3256 projects including irrigation, Roads, Bridges, Schools, Health care etc. Out of the above an amount of Rs. 992.80 lakh stands disbursed till 31.03.07.
It is pertinent to mention here that since the last 25 years the institution providing credit for promotion of agriculture, small scale industries, cottage and 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.
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