NABARD records a 25% increase in loans and advances during fiscal year 21


New Delhi, August 22 (IANS): The National Bank for Agriculture and Rural Development (NABARD) recorded a 25.2 percent increase in its loans and advances in FY21.

In his annual report for fiscal year 21, GR Chintala, the president of NABARD said that half of the total outstanding loans of Rs 6 lakh crore was for credit support for grassroots production activities and a third infrastructure development.

The Special Liquidity Facility (SLF) of 25,500 crore rupees and the additional SLF of 1,567 crore rupees granted in advance to cooperative banks, regional rural banks and microfinance institutions enabled an unimpeded flow of credit to financial institutions. farmers for seasonal farming operations while the Rural Long-Term Credit Fund has helped strengthen agricultural capital formation.

“I am happy to report that NABARD’s balance sheet size reached Rs 6.57 lakh crore as of March 31, 2021, most of which is due to non-inactive (winning) assets which in turn helped create private and public investment on the ground We have achieved a record 24% year-over-year growth in our total assets and similar impressive growth in the loan portfolio, ”he said.

The president said that NABARD was a major player in the infrastructure field with 7.1 lakh projects (including Bharat Nirman) sanctioned since the creation of RIDF in the agriculture, irrigation, connectivity and social infrastructure categories.

“We designed a new line of credit to participate in the $ 5,000 billion economic campaign – Rural Infrastructure Assistance to State Governments (RIAS). The RIAS aims to create infrastructure to support livelihoods in eastern India, which has not only lagged behind social infrastructure, but has also borne the brunt of post-pandemic reverse migration, ”he said. -he declares.


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