Nabard has extended financial assistance of Rs 9,071.66 crore in 2014-15 to various stake holders, including banks, Tamil Nadu state government and the Union Territory of Puducherry, says a report from Business Standard.
Nabard has provided refinance support of Rs 3,401.46 crores for capital formation in agriculture and Rs.4272.00 crore towards crop loans. It has also released subsidy to the tune of Rs.38.60 crore to banks for various Central Government capital subsidy schemes.
Under Rural Infrastructure Development Fund , Nabard had sanctioned Rs 1651.39 crore for various infrastructure projects to the Government of Tamil Nadu in 2014-15. Of this, the share of Irrigation was highest at 27% followed by rural connectivity at 21% while the other major sectors covered were drinking water, school and agriculture and allied activities.
Under Warehousing Infrastructure Fund , an amount of Rs 744 crore has been sanctioned which is inclusive o principal innovative proposal for Establishment of Cold Chain and Terminal markets with a loan of Rs 359.19 crore.
Nabard has sanctioned Rs.997 lakh for promotion and nurturing of Farmers Producer Companies and Producer Organisation Promoting Institutions.
Under its Watershed Development Programme, 147 watersheds in 24 districts of the state covering 3.73 lakh hectares are being covered through grant and loan support. An amount of Rs.10 crore was disbursed during the year to support the farmers in watershed areas. Under the Tribal Development Fund, two projects have been sanctioned during the year Rs.9.945 crore covering 2098 tribal families in Vellore and Salem districts.
Institutional development has been one of the core areas of Nabard. During the year Nabard continued its efforts towards implementation of Core Banking Solutions (CBS) in Cooperative Banks.
Nabard has also estimated a credit potential of Rs. 1, 44,435.55 crore and Rs 1957.48 crore for Tamil Nadu & Puducherry respectively for 2015-16. Of the total potential for Tamil Nadu, crop loan forms 41 per cent of the potential at Rs.59801 crore , while the agriculture term loan is estimated at Rs 32,528 crore.