Excelsior Correspondent
JAMMU, Apr 11: For Jammu and Kashmir State, National Bank for Agriculture and Rural Development (NABARD), apex national level institution, has prepared Potential Linked Credit Plans for all the districts and assessed priority sector credit potential of Rs 18058.50 crore for the year 2016-17.
Further, NABARD provided aggregate refinance support of Rs 128.03 crores to banks in J&K during the financial year 2015-16.
This was informed by Shankar A Pande, Chief General Manager of NABARD, J&K, while addressing a press conference, here today.
“Banks are expected to gear up to disburse incremental loans to agriculture and priority sectors in the State during 2016-17 and NABARD would be willing to increase its refinance support manifold,” he said.
Informing that NABARD provided aggregate refinance support of Rs 128.03 crore to banks in J&K during 2015-16, Mr Pande said that this includes short term refinance support of Rs 50 crore to banks for lending for crop loans/ Kisan Credit Card (KCC) to farmers and Rs 78.03 crore for facilitating banks to extend investment credit for farm and non-farm enterprises.
NABARD also provided highly concessional refinance to Regional Rural Banks (RRBs) for crop loaning through KCCs as also under its special long term refinance fund meant for encouraging long term investment credit for encouraging capital formation in agriculture. With this, aggregate outstanding refinance support by NABARD to banks in J & K peaked at Rs 311 crore, he added and further informed that Interest Subvention to the tune of Rs 5.72 crore was also provided to RRBs and Cooperative Banks during the year.
The CGM informed that during the year 2015-16, NABARD sanctioned aggregate subsidy support of Rs 40.80 crore under various Government Sponsored Schemes and also sanctioned new projects under its Rural Infrastructure Development Fund (RIDF) with loan assistance of Rs 354 crore.
“Cumulatively, as on 31 March 2016, NABARD has sanctioned 4974 rural infrastructure projects involving RIDF loan assistance of Rs 5056 crore and has disbursed Rs 4331 crore to the J & K Government. The physical benefits of these projects, estimated on the basis of proportionate financial disbursement, indicate that these projects have cumulatively resulted in tapping of additional irrigation potential of over 73,850 ha, creation of road network of over 11,800 km, creation of drinking water facilities benefiting over 10 lakh souls,” the CGM said.
Besides, he added, NABARD has supported construction of 155 Primary Health Centres / Indian System of Medicine Dispensaries, construction of 129 Veterinary Hospitals / Sheep Extension Centres, 4 Poulty Units, 21 Seed Farm / On-Farm Development Projects, 18 Terminal / Rural Markets, 3 Fruits & Vegetable Markets, etc.
During the press conference, the CGM was accompanied by B R Patnaik (GM NABARD), S S Bhatoa (DGM) and Vinita Singh (DGM).
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