The National Bank for Agriculture and Rural Development (NABARD) on Friday said it had plans to support development activities requiring financial commitment of Rs.5,320 crore in the State during the current financial year.
In a press release, NABARD said the bank's Chief General Manager for Kerala Region R. Amalorpavanathan and General Manager K.R. Rao met Chief Minister Oommen Chandy and communicated these plans to him.
Of this amount, a sum of Rs.2,075 crore was planned as refinance support for short-term agricultural activities. It could go up to even Rs.2,600 crore depending on the operations of the cooperative banks in the State. NABARD would also provide Rs.2,341 crore to the State by way of refinance for long-term investment in rural sector.
From its Rural Infrastructure Development Fund, NABARD proposed to sanction Rs.600 crore during the current financial year, in addition to Rs.500 crore disbursed for projects already sanctioned, the press release said.
