Post News Network
Bhubaneswar, April 13: Creation of capital assets in agriculture sector with special emphasis on irrigation facilities will be the major focus area of the development finance bank in the current financial year, National Bank for Agriculture and Rural Development (Nabard) said.
“Creation of irrigation facilities in the state by providing financial assistance under special long-term irrigation fund, set up by the Centre with a corpus of Rs 20,000 crore, will be the major focus area this year,” Nabard said.
On its development and promotion role, the bank said it seven watershed development projects were sanctioned for implementation in the state during last year.
“Cumulatively, a total of 82 watershed projects are under implementation in the state by the end of March 2016, with financial assistance of Rs 60.50 crore,” it said.
Under its financial inclusion drive, Nabard extended financial grant to the tune of Rs 7.33 crore under financial inclusion fund (FIF) to banks, NGOs and other agencies for various supply and demand side interventions for financial inclusion.
As per its estimates, around 28,000 joint liability groups (JLGs) of tenant farmers, oral lessees and agricultural labourers were formed and financed by banks in the state in 2015.
On refinancing, the development bank said for short-term loans of Rs 4,200 crore were sanctioned and disbursed to the Orissa State Cooperative Bank during 2015-16. “Nabard also disbursed long-term refinance of Rs 512 crore to commercial banks, Orissa State Cooperative Bank and one microfinance institution during the year.
