NABARD disburses Rs 43,000 cr to Andhra, expands grassroots reach

NABARD disburses Rs 43,000 cr to Andhra, expands grassroots reach

NABARD disbursed nearly Rs 43,000 crore in loans and around Rs 32 crore in grants to Andhra Pradesh in FY25, its chief general manager M R Gopal said on Monday.

Speaking at The National Bank for Agriculture and Rural Development's 44th Foundation Day celebrations in Vijayawada, Gopal said the bank made significant progress in supporting rural infrastructure, institutional development, and credit expansion across the state.

"In FY25, NABARD disbursed Rs 42,842 crore in loans and Rs 31.83 crore in grants, and inaugurated district development manager offices in three districts,” he said.

The launch of new offices in East and West Godavari and Nandyal districts has expanded NABARD’s grassroots reach in the state, he added.

Gopal also noted that credit flow of over Rs 29,000 crore was achieved through refinance to rural financial institutions.

He highlighted the progress in computerising Primary Cooperative Societies (PCS), calling it a "benchmark for the nation." He also acknowledged the support of the RBI, the State Level Bankers’ Committee, and the Andhra Pradesh Grameena Bank in the digital transformation.

Commissioner of cooperation and registrar of cooperative societies A Babu lauded NABARD’s role in modernising and digitising the cooperative credit structure. He emphasised the need for greater convergence to achieve financial inclusion and strengthen cooperatives across all 26 districts.

RBI regional director A O Basheer also appreciated NABARD’s efforts in strengthening the cooperative banking framework and enhancing financial stability in rural Andhra Pradesh.