- This support & separate line of credit will enable to intensify farmers crop production.
Key Points
- The Reserve Bank of India(RBI) has announced a Rs 50,000 crore refinance facility for 3 All-India Financial Institutions(AIFI) namely: NABARD, the Small Industries Development Bank of India (SIDBI), and the National Housing Bank (NHB).
- From the total of Rs 50,000 crore NABARD received Rs 25,000 crore to refinance Regional Rural Banks(RRBs), co-operative(co-op) banks and Microfinance Institutions(MFIs) to ensure credit flow to farmers for agricultural operations during COVID-19 pandemic.
Few NABARD’s sanctions to ensure credit flow to farmers for agricultural operations during COVID-19 pandemic
i.NABARD disbursed Rs 12,767 crores to State(Co-op) Banks & Regional Rural Banks(RRBs) across the country.
ii.Sanctioned Rs 1,500 crores for Punjab, out of which Rs 1,000 crores is sanctioned to Punjab State Cooperative Bank and Rs 500 crores to Punjab Gramin Bank.
iii.Extended Rs 1,050 crores SLF to West Bengal so far in the current fiscal year (FY 21), of the total amount, Rs 300 crore disbursed for MFIs, Rs 700 crore sanctioned for state cooperative banks and Rs 50 crore for RRBs.
iv.Extended Rs 20,500 crores SLF to co-operative banks(Rs 15,200 crores) and Regional Rural Banks(Rs 5,300 crores) in various States. This is against the Rs 5,000 crores lent during the 1st quarter of 2019.
About NABARD:
Headquarters– Mumbai, Maharashtra
Chairman– Govinda Rajulu Chintala
