NABARD’s support in J&K reaches new peak of Rs 970 crore in 2014-15

Excelsior Correspondent

CGM NABARD, Shanker A Pande interacting with media persons at Jammu on Wednesday.        -Excelsior/Rakesh
CGM NABARD, Shanker A Pande interacting with media persons at Jammu on Wednesday. -Excelsior/Rakesh

JAMMU, Apr 15: During the financial year 2014-15, NABARD’s support in Jammu and Kashmir reached a new peak of Rs 970 crore by way of refinance to banks, RIDF assistance to State Government and grant assistance to banks, NGOs, KVKs and SKUAST.
This was stated by Shanker A Pande, CGM, NABARD, during a press conference here today. He was accompanied by GM BR Patnayak and DGM RK Shrivatsav.
“NABARD extended aggregate refinance support of Rs 602.12 crore to Commercial Banks and RRBs in the State”, he said, adding that NABARD J&K RO also launched Area Development Schemes (ADS) in five districts namely Jammu, Kathua, Samba, Rajouri, & Doda under which various banks are expected to finance dairy development activities.
He informed that under Rural Infrastructure Development Fund (RIDF), NABARD has released loan assistance of Rs 366 crore to the J&K State Government. During 2014-15 for rural infrastructure projects, surpassing previous year’s disbursement of Rs 277 crore (32% increase), in spite of the long spell of natural calamity witnessed during the year, which affected the pace of project execution.
For providing better banking facilities by Regional Rural Banks, NABARD has sanctioned financial assistance to JKGB for issuance of 40,000 Smart Cards, 50,000 Rupay Debit Cards and 30,000 KCCs which would help provide efficient financial services to rural customers, he disclosed.
“NABARD has also extended margin money assistance to 265 loanee handloom weavers financed by various banks through Weaver Credit Cards. NABARD also sanctioned subsidy assistance to 76 dairy units, 56 poultry units, 92 sheep/goat units and 18870 solar lighting units during 2014-15, under Central Sector Schemes”, he added.
NABCONS, the consultancy arm of NABARD continued to extend technical assistance to the State Government for third party monitoring of various infrastructure projects under Plan funds, Border Areas Development Programme (BADP) and Forestry Development Projects during 2014-15 and secured new contracts for Rs 91 lakh and executed assignments for Rs 296 lakh.
Pande further mentioned that to facilitate Banks and State Government, NABARD has prepared Potential Linked Credit Plans for all districts of the State and assessed bank credit potential at Rs 13683.13 crore for J&K State during 2015-16. Strategy to enhance the credit support to priority sectors was discussed in a State Credit Seminar inaugurated by NN Vohra, Governor, he added.

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