Long-term disbursements grow 46%, says Nabard

Long-term disbursements grow 46%, says Nabard

Long-term disbursements grow 46%, says Nabard

 The National Bank for Agriculture and Rural Development (Nabard) Chairman, Harsh Kumar Bhanwala, has said that the bank’s long-term refinance disbursements (investment credit that promotes agricultural projects) touched the highest-ever figure of Rs 31,424 crore, with a growth of over 46 per cent.

Briefing reporters here on Tuesday, Bhanwala said, “This year has been satisfactory as we have achieved a 12 per cent growth on the balance sheet, from Rs 2,54,000 crore last year to Rs 2,84,000 crore this year. In the loans and advances portfolio, there has been a growth of 15 per cent.” The bank’s refinance disbursements reached Rs 1,21,424 crore with a healthy 16.57 per cent growth in its refinance business during the year.

“Projects under the Rural Infrastructure Development Fund (RIDF) have brought 254 lakh hectares under assured irrigation, laid 4 lakh km of rural roads, erected 9.50 lakh metres of rural ridges, established godowns with over 100 lakh MT capacity and created non-recurring employment of over 11 billion man days,” Bhanwala said.

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