Tamil Nadu: FY 2020-21 Results Proving NABARD Key role in Tamil Nadu’s Develop
NABARD released ₹ .27104 crore during 2020-21
The National Agricultural and Rural Development Bank (NABARD) has been instrumental in the development of Tamil Nadu. The 2020-21 financial year results make this clear. Even in the context of 2020-21 Covid-19, NABARD’s contribution to the development of the state is commendable as it has achieved the best results with the co-ordination of various departments in the implementation of loan disbursement and schemes without any hindrance.
In this regard, the Bank Regional Chief General Manager Mr. S. Selvaraj special effort, talent is commendable. In his words, the progress made under the auspices of the bank in the year 2020-21.
The National Bank for Agriculture and Rural Development (NABARD), the apex development bank for fostering rural prosperity, has been playing a significant role in the socio-economic development of the State of Tamil Nadu through several business, promotional, institutional development and policy interventions.
During the year 2020-21, loans disbursed by Tamil Nadu Regional Office of NABARD reached an all-time high of ₹ 27,104 crore, up from ₹ 14,458 crore the previous year – a growth of 87%.
Total refinance extended to eligible financial institutions in the State under Long Term (LT) Loans for facilitating capital formation and Short Term (ST) Loans for Operations and production increased to ₹ 23,062 crore registering a growth of 89% over the previous year. Refinance under LT was to the tune of ₹ . 11,698 crore and under ST, ₹ .11,364 crore. The Cooperative Banks have been disbursed refinance of ₹ 8761 crore which is more than double the refinance of ₹ 3737 crore availed during the previous
year. NBFC/ NBFC-mFIs which have over the years increased their share in the total credit dispensed by reaching the borrowers’ door step have also increased their share in the total refinance support from NABARD to ₹ 2858 crore from ₹ 1252 crore
registering an increase of 128 % over the previous year. Cooperative Banks 38% Commercial Banks 29% Regional Rural Banks21% NBFC/NBFC-MFIs 12% Total Refinance (₹23,062 crore ) गााँि बढ़े >>तो देश बढ़े www.nabard.org Taking Rural India >> Forward As can be seen in the above chart, of the total refinance of ₹ 23,062 crore, Cooperative Banks accounted for a major share at ₹ 8761 crore (38%) followed by commercial Banks at ₹ 6602 crore (29%), RRBs at ₹ .4840 crore (21%) and NBFC/ NBFC-mFIs at ₹ .2858 crore (12%).
Support for Infrastructure
NABARD extends financial support to the State Govt. and State Government Undertakings for creation of infrastructure which is of utmost importance and a national priority. During the year an amount of ₹ . 4042 crore was extended as financial assistance for Infrastructure Development.
Rural Infrastructure Development Fund (RIDF), created out of the short fall in Priority Sector lending of scheduled Commercial Banks is available at a concessional rate of interest to State Govts. Under the fund, 3313 projects with an assistance of ₹ 2469
Crore have been sanctioned to Govt of Tamil Nadu. Major projects covering Agri & Allied, Social and Rural connectivity sectors include combined Drinking Water Project, 65 minor/medium irrigation projects, Cold Storage Projects, Supply Chain Management, Modernization of 5 Industrial Cooperative Tea factories, establishment of AIIRLIVAS (a veterinary research institute) etc. An amount of ₹ 1,971 crore was released during the year to GoTN for completion of ongoing RIDF projects.
GoTN has availed financial assistance from the NABARD Infrastructure Development Assistance (NIDA) for the first time during the current year. An amount of ₹ 6531 crore was sanctioned during the year under NIDA of which ₹ 2347 crore was sanctioned to
Govt. of Tamil Nadu for drinking water scheme and irrigation projects and ₹ 4184 crore to Tamil Nadu Water Resources and River Restoration Corporation (TNWRCRRC) ) for creation of irrigation infrastructure. An amount of ₹ 594 crore was disbursed under this scheme during the year.
NABARD has also made available credit of ₹ 937 crore to the State Government under Micro Irrigation Fund to supplement efforts of ‘per drop more crop’ component of Pradhan Mantri Krishi Sinchayee Yojana. Further, ₹ 332 crore under Warehouse Infrastructure Fund (WIF) for creating Storage Infrastructure, ₹ 194 crore under Fisheries and Aquaculture Infrastructure Development Fund (FIDF) for setting up of Fishing Harbours in Cuddalore, Nagapattinam and Tiruvallur districts, and ₹ 13 crore under Food Processing Fund was disbursed by NABARD.
An amount of ₹ 303 crore was sanctioned under Dairy Infrastructure Development Fund to M/s Tamil Nadu Milk Producers Federation Ltd. and ₹ 69 crore was sanctioned under Food Processing Fund to Government of Tamil Nadu for Setting up of 7 Agro Processing Cluster.
Grant assistance of ₹ 31 crore was extended by NABARD to implement replicable innovative projects in Agri and allied sectors, facilitate farmers adopt new farming practices, improve water table by creating watersheds, sustainable livelihoods in tribal areas, creating institutions for handholding agri-start-ups, fostering a conducive environment for financial inclusion, skill development in off-farm activities etc.
NABARD has also focussed on development of Farmers’ producer Organisation for गााँि बढ़े >>तो देश बढ़े www.nabard.org Taking Rural India >> Forward collectivisation of agricultural produce for enhancing farmers’ income. Details of NABARD’s assistance is as under:
Sanctioned a cumulative grant assistance of ₹ 1532.37 lakh for setting up the Madurai Agri Business Incubation Forum (MABIF) at Agricultural College and Research Institute, Tamil Nadu Agricultural University, Madurai. MABIF has 154 Incubatees including 80 FPOs under its fold as on date.
Grant support of ₹ 93 Lakh was sanctioned for various replicable innovative projects in farm sector activities viz off-season jasmine cultivation, plant health monitors for quality vegetable cultivation, UV project for enhancing the shelf-lifeof vegetables etc.
Three Wadi projects for creating sustainable livelihoods for tribals were sanctioned during the year, taking total number of tribal projects to 14 in the State. Grant of₹ 3.67 crore was released for ongoing tribal development projects.
During the current year, 4 new watershed development projects have beensanctioned, bringing the total number of ongoing projects to 59. An amount of ₹ 8.37 crore was released for watershed development projects, post-watershed climate proofing and KFW-soil projects. The watersheds raise the water table thereby creating sustainable livelihoods with improved farming practices. Grant assistance of ₹ 27.49 lakh has been sanctioned for implementation of 4 Rural Marts and 4 Mobile Rural Mart.
Released grant assistance of ₹ 2.59 crore to various agencies for livelihood and micro enterprise development programmes, digitisation of SHGs, promotion and nurturing of Joint Liability Groups (JLGs) thereby giving a boost to the micro-finance sector
NABARD gave thrust on backward districts i.e. Special Focus Districts for financial inclusion. ₹ 13.61 crore grant was sanctioned and ₹ 6.47 crore was released for various financial inclusion initiatives. 3800 Financial and Digital Literacy Camps were conducted with a grant of ₹ 114.81 lakh from NABARD
NABARD provided a grant support of ₹ 213.30 lakh to India Post Payment Bank, Tamil Nadu Grama Bank and ESAF Small Finance Bank for deployment of 4600 micro-ATMs to extend banking facilities at doorstep in rural and remote locations of the State.
A grant assistance of ₹ 180 lakh was sanctioned to District Central Cooperative Banks for deployment of 12 mobile demonstration vans with an objective of spreading financial literacy and demonstration of various digital banking technologies for rural poor.
EShakti aims at digitisation of SHG records on a common e-platform so as to provide the SHG members, access to wider range of financial services while increasing the comfort of the bankers in credit linkage. With collaboration with Tamil Nadu State Rural Livelihood Mission (TNSRLM) 2.02 lakh SHGs across have been on boarded to the EShakti portal.
NABARD Consultancy Services (Nabcons) a wholly owned subsidiary promoted by NABARD engaged in providing consultancy in all spheres of agriculture, rural development and allied areas has contracted projects for ₹ 10.81 crore and executed projects for ₹ 4.61 crore.