Excelsior Correspondent
JAMMU, May 17: Aligning with its vision and mission “Development Bank of the Nation”, NABARD enhanced its support to the various sectors of rural economy during 2021-22, for sustainable rural development of Jammu & Kashmir and Ladakh UTs.
NABARD made a stellar performance in sanctioning projects for rural infrastructure development under RIDF. The sanctions during the financial year 2021-22 were Rs 1542 crore representing an increase of 92.75% over the last year. This will spur the rural economy in the UT and will catalyse other sectors to see expansion.
To support the agricultural production activities of farmers, Short Term Refinance to the tune of Rs 75.58 crore was extended during 2021-22. For boosting capital formation, LT refinance of Rs 59.55 crore was also extended the Regional Rural Banks.
Further under `Atma Nirbhar Package’ of Govt of India under Additional Emergency Working Capital for Farmers, NABARD extended liquidity support of Rs 150 crore to JKGB. An interest subvention of Rs 24.70 crore was disbursed to RRBs and Cooperative banks in the UT.
During the year, an amount of Rs 460.49 lakhs was sanctioned and Rs 216.35 lakhs was disbursed towards host of activities such as FLCs, demonstration vans, Micro ATMs, PoS and various types of capacity building projects under Financial Inclusion initiatives.
Eighteen Skill Development Programmes on different trades, involving 525 candidates were supported during 2021-22 by NABARD.
NABARD sanctioned an assistance of Rs 825.78 lakhs towards promotion of 21 FPOs under Central Sector Scheme (CSS) and three FPOs under Producer Organization Development Fund (Interest Differential) during the year. In order to strengthen the existing FPOs, several training program/workshops were organized both at UT and district level.
To support innovative technology, transfer projects like indoor vertical expansion of saffron, promotion of Lavender Farming, making of decorative items from Sericulture waste etc. seven projects have been sanctioned under NABARD’s Farm Sector Promotion Fund.
In its commitment towards institutional development of RFIs under STCSS, recapitalization assistance to the tune of Rs 255.71 crore has been released by the UT Govt to the three DCCBs (ACCB, BCCB and JCCB). NABARD has released the GoI share amounting to Rs 111.22 crore.
Under the various components of Development Package for Jammu & Kashmir, including infrastructure development, promotion of FPOs under Central Sector Scheme, Promotion of SHGs & JLGs, Support for GI registration, Refinance support, Atmanirbhar Bharat Package, credit for area expansion under Walnut, Saffron, Apple etc NABARD’s contributed Rs 1892.73 crore during the year, a Bank spokesman said.
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