Home > Business > NABARD Odisha registers spectacular growth; disburses Rs 22,709 Cr under various products

NABARD Odisha registers spectacular growth; disburses Rs 22,709 Cr under various products



Notwithstanding the COVID-19 pandemic impact, the Odisha Regional Office of the National Bank for Agriculture and Rural Development (NABARD) has achieved a spectacular progress during the financial year (FY) 2020-21.

Despite challenges due to the COVID pandemic, NABARD disbursed Rs.22,709crore during FY2020-21 under various products to commercial banks, cooperative banks, RRBs, besides state government and state government entities, informed NABARD Odisha Regional Office Chief General Manager C Udayabhaskar here on Monday.

Under Atmanirbhar Bharat Abhiyan, NABARD provided front ended liquidity support to rural financial institutions with a view to ensure unhindered flow of credit from banks to farmers to carry out their agricultural operations smoothly. NABARD, Odisha Regional Office disbursed Rs. 1,700 crore under Special Liquidity Facility (SLF) to Cooperative Banks and MFIs during COVID-19 pandemic, he added.

The CGM further said that during FY-2020-21, refinance for short term crop loans to the tune of Rs. 12,193 crore was disbursed to Cooperative Banks and RRBs.

In a bid to promote capital formation in agri and allied sectors, NABARD disbursed Long Term Refinance of Rs. 1551.85 crore to Commercial Banks, Odisha State Cooperative Bank and MFI in FY21.

Continuing with its thrust on building agricultural and rural infrastructure, NABARD sanctioned Rs. 3234.25 crore to the Odisha Government under RIDF Tranche XXVI [2020-21]. It included 2510 Community Based Lift irrigation Projects under BKVY scheme, 11 Megalift Schemes under Cluster-V, 74 Rural Bridge Projects, seven Mega Piped Water Supply Projects,  eight Flood Protection and one System Improvement Project. These Irrigation projects are envisaged to create/stabilize/develop an irrigation potential of 97,256 hectares of land in Odisha; and bridge projects to provide the necessary rural connectivity. The Drinking Water projects funded by NABARD on completion are expected to provide clean and safe drinking water to 25.46 lakh rural population across 3.50 lakh households in 1,335 villages across the state, said the CGM.

During FY21, NABARD also disbursed RIDF assistance to the tune of Rs.2732.75 crore to Odisha Government for the expenditure incurred towards various ongoing projects, including the Indravati Lift Canal Irrigation Project in Kalahandi, five lakh litres per day capacity OMFED automated milk processing unit, drinking water projects in Nuapada, Bhadrak, Bargarh, Nabarangpur, Dhenkanal and Jajpur.

The development finance institution also disbursed Rs. 5597.50 crore for supporting paddy procurement operations in the State in FY 2020-21.

NABARD extended grant assistance of Rs 58 crore towards various promotional initiatives during FY2020-21. Being pioneer in implementing Watershed projects in the State, 144 watershed projects have been undertaken by NABARD with financial assistance of Rs. 74.92 crore covering 1,12,000 hectares and 41,000 households in 24 districts of Odisha. Currently, 70 watershed projects are ongoing and 5 new projects were sanctioned during the year with financial assistance of Rs. 6.27 crore under Watershed development and climate proofing projects.

To ensure sustainable livelihood for the tribal people of Odisha, under Tribal development programme/WADI project, NABARD implemented 63 tribal development projects with financial assistance of Rs. 190.61 crore covering area of 41,000 acres and 48,000 tribal families in 21 districts of Odisha. During FY21, two new projects worth Rs. 7.39 crore were sanctioned in Dhenkanal and Koraput.

During FY2020-21, NABARD, Odisha extended financial assistance of Rs. 2.88 crore towards promotion and development of 242 farmer producer organisations (FPOs) thus benefiting over one lakh farmers. With a view to improve the accessibility of institutional loans and extend collateral free loan facility to FPOs, the Odisha Government signed a memorandum of understanding with NABKISAN, a subsidiary of NABARD for creation of a separate Credit Guarantee Fund to the tune of Rs. 10 crore by the state government, said Udayabhaskar, while adding that NABARD also extended benefit to 8,420 self help group (SHG) women for promotion of livelihoods.

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