Rs 16,000 cr Nabard loans this year

Rs 16,000 cr Nabard loans this year

It is A Rs 3,300 cr more than last fiscal in the state Hyderabad: The regional office of National Bank for...

It is A Rs 3,300 cr more than last fiscal in the state

cr2Hyderabad: The regional office of National Bank for Agriculture and Rural Development (Nabard) of Andhra Pradesh has announced plans to extend loans to the tune of Rs 16,000 crore in 2013-14 compared to Rs 12,687 crore during the previous year.

Addressing media persons on Friday, Nabard chief general manager K R Nair said that the financial institution had been playing a key role in developing agriculture in the state. He said that Nabard had extended short- term loans worth of Rs 8,091 crore to the farmers of the state and agriculture investment loans touched to Rs 2,878 crore. Andhra Pradesh stood at top of the Nabard loan recipient states in the country in 2012-13, registering a growth of 40 percent when compared 2011-12 loan disbursements.

"For the first time in the country, 21 warehouses owned by 13 PACS in Nizamabad district are accredited, which can avail loans under Negotiable Warehouse Receipt Financing", he said.

Referring to the loans given to the farm allied services, Nair said that Nabard had given Rs 158 crore during 1012-13 for the agriculture allied sectors including dairy, poultry, rural godowns and marketing infrastructure. On 2013-13 loan plan, he explained that the bank planned to extend Rs 16,000 loans in 2013-14 for the development of agriculture in the state in extensive way. "We plan to extend our services in different ways by extending loans to all allied sectors", he said.

Saying that efforts are being made to shape the primary agricultural cooperative societies as multi-purpose one, he mentioned that there were 3,000 successful PACS in the state and Nabard decided to shape them as multi-purpose societies. The Mulkanuru PAC had been managing a weigh bridge, petrol pump, seed business, warehousing activity, dairy and super markets.

"The remaining PACS should shape themselves on the lines of Mulkanuru", he said, adding that Nabard changed the face of 146 PACS in 2012-13 and it was decided to bring another 700 PACS into the same line in 2013-14 .

Nair said that the Nabard was planning to build 700 godowns with a capacity of two lakh tonnes of food grains in various districts.On Nabard personnel performance, he said that the activities of bank were being stepped up while the number of employees was being lessened. "This success is achieved because of computerisation and automation", he added.

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