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| NABARD sanctions over Rs 600 cr loan to J&K Govt | | | Early Times Reporter
Jammu | Apr 2
An amount of Rs 602 crore as a loan to the J&K Government has been sanctioned by National Bank for Agriculture and Rural Development (NABARD) during the current financial year under RIDF-X111.
The amount will be spent for construction of rural roads, bridges drinking water schemes, flood protection works and irrigation projects in various districts of the states.
According to Chief General Manager NABARD, A.K. Mathur this is the highest ever amount sanctioned by NABARD to the J&K Government for development of Rural Infrastructure in the state. The cumulative disbursement of loan under RIDF to the state stands at Rs. 1243.4 crore since inception, beside NABARD has also extended refinance support to RRBs for crop loans and long term loans for Farm and Non-Farm activities in the state. NABARD also, sanctioned 54 Diary Projects under Venture Capital Fund Scheme of Government of India.
While laying emphasis on inclusive growth, Mathur said that NABARD has also extended financial support to NGOs for promotion of Self Help Groups (SHGs) in the state. He said that about 2800 SHGs have been credit linked in the state so far. NGOs were also assisted to organize exhibition-cum-sale for products of Self Help Groups. |
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