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| NABARD chairman visiting J&K today, to meet CM, others | | Likely to discuss infrastructure dev; loan waiver; revival of cooperatives | | Early Times Reporter
Jammu | Apr 6
U C Sarangi, who took over as Chairman NABARD in November last, will be visiting Jammu and Kashmir State for the first time tomorrow. During the visit here, he is expected to hold meetings with the state Chief Minister Ghulam Nabi Azad, Chief Secretary and other senior officials on several issues relating to infrastructure development in Jammu and Kashmir.
The Chief General Manager NABARD Jammu giving details about the impending visit of the Chairman said that National Bank for Agriculture and Rural Development (NABARD) has sanctioned a loan component of Rs.602 crore to the state in the current fiscal under RIDF-XIII. The loan has been sanctioned for construction of rural roads, bridges, drinking water schemes, flood protection works and irrigation projects for various districts of the state. He said the National Bank has so far sanctioned a cumulative amount of Rs.2167.66 crore to Jammu and Kashmir since 1995-96 for infrastructure development while the cumulative disbursement of loan under RIDF has been of the order of Rs.1234.43 crore.
The CGM further said that as the financial health of Short Term Cooperative Credit Structure (CTCCS) in the state is a cause of concern, the visiting Chairman will be having extensive discussions with the officials of the Cooperative Department also for working out strategy for rejuvenating the cooperative structure. It is understood that Sarangi shall be discussing the revival package for STCCS in the light of Vaidyanathan Committee recommendations for strengthening the STCSS which is vital for purveying credit to the farming community particularly small and marginal farmers. Sarangi, as a member of the Vaidyanathan Committee was instrumental in designing the strategies for revival of the STCSS which were subsequently accepted by the Government of India.
Signing of a Memorandum of Understanding with the state government for the purpose is also one of the main agenda for his visit to the state, the CGM said and added that the loan waiver scheme recently announced by the Union Finance Minister in this year’s budget speech is also expected to be one of the issues that may be discussed by Sarangi with the state government. |
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