Kakani Govardhan Reddy hails role of NABARD in rural development

Minister Kakani Govardhan Reddy releasing the booklets of NABARD in Vijayawada on Monday
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Minister Kakani Govardhan Reddy releasing the booklets of NABARD in Vijayawada on Monday

Highlights

Minister of Agriculture and Cooperation Kakani Govardhan Reddy lauded the role of National Bank for Agriculture and Rural Development (NABARD) for its proactive role in fostering rural prosperity focusing on credit planning, supervision and its developmental and promotional initiatives.

Vijayawada (NTR District): Minister of Agriculture and Cooperation Kakani Govardhan Reddy lauded the role of National Bank for Agriculture and Rural Development (NABARD) for its proactive role in fostering rural prosperity focusing on credit planning, supervision and its developmental and promotional initiatives.

He participated in the 41st Foundation Day celebrations of NABARD here on Monday.

He acknowledged various challenges facing the agrarian sector and shed light upon the roadmap for achieving sustained growth in farm income and reducing the vulnerability of farmers. He recalled that on this Foundation Day, NABARD has released a credit facility of Rs 1600 crore to AP Civil Supplies Corporation. Snapshot of NABARD's performance in Andhra Pradesh during Financial Year 2021-22, NABARD Footprints in two districts of YSR and Vizianagaram districts were released on the occasion.

Commissioner for Cooperation and Registrar of Cooperative Societies A Babu said that NABARD is setting its footprints in many relevant sectors apart from refinance and supervision of Rural and Cooperative Banks.

Person-in-Charge of APCOB Jhansi Rani expressed her gratitude to NABARD for supporting APCOB and DCCBs for extending refinance and support in institutional development of cooperative sector in the State.

GM of the SBI Om Narayan Sharma said that apart from supervisory function, NABARD plays a pivotal role in institutional development and policy formulation in consultations with Governments and other stakeholders.

Chief General Manager of NABARD's AP Regional Office MR Gopal highlighted that NABARD has been fulfilling its commitment of serving Rural India and contributing to Agriculture and Rural Prosperity over four decades and evolved into a learning and knowledge-based organisation. During the year NABARD has supported infrastructure creation in Andhra Pradesh like construction of additional classrooms in 1553 Government High Schools under Mana Badi Nadu Nedu Scheme, construction of three Medical college- cum-Hospital, Chintalapudi Lift Irrigation Project by extending a financial support of Rs 2766 crore, disbursed Rs 295 crore to the State Government towards share capital contribution of APCOB and nine DCCBs.

General Manager B Uday Bhaskar and Geneal Manager NS Murthy also spoke.

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