Nabard pumps in Rs 10,000 cr to refinance banks
The National Bank for Agriculture and Rural Development (Nabard) has pumped in Rs 10,000 crore till August to refinance banks, of the targeted Rs 33,500 crore, Nabard Chairman U C Sarangi said today. - SBT disburses Rs 502 crore to farmers - FM to review banks' performance - Shrinking credit to farmers - Kharif loan disbursement down 30% - Kharif loan disbursements down 30 per cent - Types of work under NREGA may be expanded "We have already used Rs 10,000 crore to refinance banks till August," Sarangi told reporters on the sidelines of a Crisil-organised event here. In order to insure that banks have sufficient funds to lend to needy sectors a considering a weak monsoon, Nabard made a provision of Rs 33,500 crore to refinance regional rural banks (RRBs), commercial banks and cooperative banks in FY10. Of the Rs 33,500 crore, Rs 21,000 crore would be utilised for short-term crop loans and Rs 12,500 crore for long-term investment credit, Sarangi said. Last financial year, the total refinancing amount from Nabard to RRBs, commercial and cooperative banks stood at Rs 26,000 crore. Nabard is currently working on a project to convert viable Self Help Groups (SHGs), engaged in manufacturing products having market-demand, to federations to link them to assured markets, he said.12 month loan commented:
This will be really nice for the people as they will have agood sum of money with them
09.09.2011
Quick Quid commented:
Such refinance will come with good outcome I think.It is a good decision.Thanks for such post.
11.11.2011
payday loans online commented:
Good decision it is. This may give growth to economy.Thanks for such nice sharing.
18.11.2011
Family Offices commented:
Good post as contains great information.I must appreciate for sharing such great post.
22.12.2011
Mortgage Specialist commented:
Its so much money invested by the NABARD to help banks for the lending to the farmer in the agriculture.This amount was shrinking from the last time so this decision was taken by them.
31.12.2011
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03.01.2012
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04.01.2012