Nabard spends Rs 14,830 mn in 2007-08

Thiruvananthapuram: The disbursals by National Bank for Agriculture and Rural Development (Nabard) in Kerala totalled Rs 1,483 crore during 2007-08.

The disbursals comprised production credit loans of Rs 721 crore, investment credit loans of Rs 571 crore and Rural Infrastructure Development Fund (RIDF) loans of Rs 191 crore. These apart, Nabard also disbursed loans of Rs 2.07 crore to the State Government for capital share contribution.

Mr. Bhawar Puri, Chief General Manager, Nabard Regional Office, said that the total disbursals during the year showed a growth of around three per cent over the disbursals of Rs 1,446 crore recorded last year.

The RIDF disbursements during the year were lower than the Rs 240 crore made in the previous year. However, the sanctions amounted to Rs 287.03 crore in respect of 401 projects, marking an increase of 20 per cent over 2006-07, Mr. Puri said.

Under production credit, Nabard sanctioned Rs 500 crore to Kerala State Cooperative Bank (KSCB) as short-term crop loans at three per cent interest on behalf of 14 district cooperative banks (DCBs) as against Rs 342.65 crore to 11 DCBs in 2006-07, marking an increase of 46 per cent. The utilization of KSCB during 2007-08 stood at Rs 405.60 crore as compared to Rs 264.19 crore in the previous year.

Besides, the bank sanctioned a consolidated limit of Rs 7.40 crore to KSCB on behalf of four DCBs for financing primary weavers cooperative societies and KSCB availed itself of the entire amount.

Under crop loans, Nabard sanctioned an aggregate limit of Rs 297.15 crore to the two Regional Rural Banks (RRBs) in the State. The utilisation was to tune of Rs 287.79 crore. Also, a limit of Rs 46.60 crore was sanctioned to the two RRBs as short-term loans for purposes other than seasonal agricultural operations.

Under investment credit, Nabard’s disbursal of Rs 571 crore was against a target of Rs 410 crore. The disbursements made to commercial banks, RRBs and cooperative banks were for investments in thrust areas such as minor irrigation, land development, plantation and horticulture, fisheries, rural godowns, non-farm sector, rural housing and micro credit.