It is targeting to disburse up to Rs 10,000 crore under this in the current financial year, a senior Nabard official said.
"Debt waivers create a moral hazard from a credit repayment perspective and we cannot have omnibus waivers," chairman Harsh Kumar Bhanwala told reporters here, a week after UP government announced a Rs 36,000-crore farm loan waiver package.
Around four crore rural families are facing housing deprivation as per the Socio Economic and Caste Census, 2011 and 2.95 crore more houses are required to be built to achieve the target of housing for all by 2022, the government said today.
This is 14 percent higher than the credit projection made for the year 2016-17 by the National Bank for Agriculture and Rural Development (NABARD).
"The average of last five years was 81.75 lakh metric tons. This year the expected foodgrains production is 84.66 lakh metric tons. It will come, there is no doubt," he said in the Legislative Assembly during a budget discussion.
These facilities will be part of the national cold chain grid being created to transfer perishables from farm areas to consumers seamlessly, the minister said.
A Government release quoted Agriculture Secretary Parthasarathi as saying agriculture in the state is rain-fed and about 42.82 lakh acres depend on borewells for irrigation.
Finance Minister Arun Jaitley's Budget 2017 speech was fairly well-focused on providing an impetus to the rural India. Proposals for farm and dairy sector will only add to increasing income potential of rural India, said NABARD Chairman Dr Harsh Kumar Bhanwala.
Reacting to the proposals in the Budget presented by Finance Minister Arun Jaitley today, he praised the Centre's move to bring "much-needed" reforms in political funding by making political parties file income tax returns, and lowering the maximum cash donation received by any party from one source to only Rs 2,000 from Rs 20,000.
"The Budget focuses a lot on the rural and agriculture sector. Though the thrust on digital continues, reforms announced in the Budget will generate employment and help in doubling farmers income," chairman Harsh Kumar Bhanwala told PTI.
The government fixed agri credit at a record of Rs 10 lakh crore and committed to double farmer income in next five years.
Finance Minister Arun Jaitley Wednesday, announced a spate of initiatives in the agriculture sector with an increased outlay of Rs 10 lakh crore for FY18 as he presented the Union Budget for 2017-18.
Cabinet today permitted Nabard to raise about Rs 20,000 crore from the market for on-lending to cooperative banks at 4.5 percent interest with an aim to provide cheaper crop loans to farmers.
A decision in this regard was taken at the Cabinet meeting, chaired by Prime Minister Narendra Modi, to help farmers who faced hardships because of scrapping of Rs 500 and Rs 1,000 notes from November 8 mid-night.
According to the 'State Focus Paper,' released by Chief Minister Pinarayi Vijayan in the State Credit Seminar organised by NABARD here last evening, the credit potential for the year 2017-18 is an increase of 7.38 per cent over the previous year.
Kerala Chief Minister Pinarayi Vijayan today asked Reserve Bank of India to change its stand towards state Cooperative sector in the wake of an admission by the apex bank that there was no black money in the cooperatives.
SBI signed memorandum of understanding with the Gujarat Government for extending bank credit especially in priority sector. Under the MoU country's largest lender will give Rs 30,000 crore worth loans over two-year period, officials announced at the Summit here.
Government has given a one-time relaxation to banks for submission of online applications for claims under Credit Linked Capital Subsidy Scheme (CLCSS), due to their heavy workload post demonetisation.
Nabard has sanctioned a loan of Rs 23.94 crore to the Haryana government under Rural Infrastructure Development Fund for 2016-17 for rural drinking water supply cchemes in 20 villages of Hisar district.
Maharashtra government has accepted NABARD's funding for 23 irrigation projects in the form of long-term loan.
In order to encourage cashless payment modes in rural parts of the country, Nabard today said it will provide a grant of Rs 228 crore for deployment of point of sale machines and procurement of EMV based debit cards for farmers.
FDI in food retail will give an impetus to India‘s food sector, Food Processing Minister Harsimrat Kaur Badal told CNBC-TV18 in an exclusive interview. India‘s food processing is the sunrise sector, it is growing faster than agriculture sector and there is a positivity about it globally, Badal added.
Although DCCBs, so far out of the currency swap, have implemented the core banking system (CBS), they have a long way to go when it comes to offering digital services such as Internet or mobile banking.
Although DCCBs have implemented the core banking system (CBS), they have a long way to go when it comes to offering digital services such as Internet or mobile banking.
National Bank for Agriculture and Rural Development (Nabard) has sanctioned an additional Rs 21,000 crore to district cooperative banks to enable more loans available for farmers ahead of the winter sowing season.