By Sandeep Pattnaik
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Bhubaneswar, 27 June 2015: National Bank for Agriculture and Rural Development (NABARD) in Odisha has sanctioned an impressive Rs 10,000 crore credit during 2014-15 fiscal year and total disbursement out of that has reached almost Rs 8000 crore, an official release from the bank said.
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This includes loans to State Government, refinance support to banks and direct loans that recorded an increase of 57% over the previous year. Total disbursements have shown an increase of nearly 35% over 2013-14 fiscal year. Under RIDF itself, it has extended credit support of Rs.2652 crore, showing a stupendous increase of 150% over the previous year, according to the release.
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Among the credit support to the state during the previous fiscal year , a sum of Rs.964 crore was made for construction of around 3375 rural godowns in the Primary Agriculture Cooperative Societies (PACS) located across various districts of the State, to provide adequate crop storage facilities for small and marginal farmers. Similarly, NABARD has provided short terms loans of Rs.4900.00 crore in the State, to DCCCBs and RRBs to meet the production credit needs of farmers, at subsidized interest rates.
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A term loan refinance support of Rs.457 crore to RRBs, cooperatives and commercial banks in the State, has also been made by the bank through constitution of Long Term Concessional Refinance Fund. It is also closely coordinating with the banks in the State for implementation of Area Development Schemes for fisheries, dairy and farm mechanization with a total financial outlay of Rs.130 crore, in 2015-16.
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Under direct lending window NABARD has sanctioned an amount of Rs.800 crore Odisha State Civil Supplies Corporation for its food grain procurement operations, during the year 2014-15. An amount of Rs.80 crore was also sanctioned to the Odisha State Cooperative Bank (OSCB) for extending loan of Rs. 30.00 crore to MARKFED for procurement operations of the latter, for sun flower seeds and groundnut pods and Rs. 50.00 crore for financing societies for agricultural operations and marketing activities.
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During FY’15, the bank has provided financial assistance of Rs 42.53 crore, benefitting around 16,000 families and an area of nearly 44,000 Ha under watershed projects, which are under implementation in the State, as at the end of March 2015.
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Under the Tribal Development Fund of NABARD, 47 tribal development projects are under implementation in the State, as at the end of March 2015, with total financial support of Rs. 164.60 crore for plantation activities, soil and moisture conservation works, irrigation development and livelihood support, benefitting more than 30,000 tribal families.
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Meanwhile, the premier bank has signed an MoU with Sir Dorabjee Tata Trust (SDTT), for collaboration in implementation of developmental projects in the State, with a focus on LWE districts, the official release said.
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In its efforts in formation of SHGs and JLGs in the State, NABARD has formed partnerships with NGOs and banks, especially in the LWE districts for financial support to marginalized sections of the society. Around 20,000 Joint Liability Groups (JLGs) of tenant farmers, oral lessees and agricultural labourers were formed and financed by banks in the State, during the year. Around 38,000 SHGs got credit linked to banks in the State facilitating flow of loans to these small income groups. NABARD also took up the process of formation and nurturing of 40 Producers Organizations in the State, during the year.
