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30k-cr Nabard credit to farmers on the cards
30k-cr Nabard credit to farmers on the cards. The state-run National Bank for Agriculture and Rural Development (Nabard) has set a target of providing Rs 30,000 crore as credit to farmers for irrigation over the next three years, bank Chairman and Managing Director Harsh Kumar Bhanwala said here on Sunday.
Mumbai: The state-run National Bank for Agriculture and Rural Development (Nabard) has set a target of providing Rs 30,000 crore as credit to farmers for irrigation over the next three years, bank Chairman and Managing Director Harsh Kumar Bhanwala said here on Sunday.
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The agriculture and rural focused lender has already sanctioned Rs 1,000 crore so far this year, Bhanwala told reporters, adding that this funding would be in addition to the government’s recent announcement of providing Rs 50,000 crore of loans to farmers over the next five years under the Pradhan Mantri Krishi Sinchai Yojana (PMKSY).
"We have decided to provide loans amounting to Rs 30,000 crore for irrigation to farmers over the next three years. This year we are looking at providing Rs 10,000 crore of loan for this purpose and I am happy to inform you that we have already sanctioned Rs 1,000 crore so far," Bhanwala said. "Rather than merely creating capacity we are looking at help improve irrigation efficiency," he added.
Speaking at the 34th Foundation Day of Nabard, Bhanwala said, "the bank has been accredited by the Green Climate Fund (GCF) as the national implementation agency for climate change at the rural level." "The idea is to create a Green Climate Fund with a commitment of $100 billion against the present commitment of around $10 billion," he said.
