NABARD provides Rs.2500Cr Liquidity Support to AP in COVID-19 Crucial period

S.Selvaraj, Nabard, AP Regional Chief General Manager has happily informed that in the wake of the COVID-19 pandemic, National Bank for Agriculture and Rural Development (NABARD) made available a Special Liquidity Facility (SLF) of ₹25,000 crore for providing liquidity support to Regional Rural Banks, Cooperative Banks and Micro Finance Institutions (MFIs) during 2020-21. The SLF is a front loaded liquidity support provided to banks with a view to ensuring continued flow of credit to farmers to carry out their agricultural operations smoothly even during COVID-19 pandemic period.

An amount of ₹2,500 crore was allotted to Rural Financial Institutions in the State of Andhra Pradesh, of which an amount of ₹1,300 crore has been released to thirteen District Central Co-operative Banks and ₹1,200 crore to four Regional Rural Banks (RRBs) in the State by NABARD, Andhra Pradesh Regional Office.

This line of credit will help the banks in augmenting their financial resources for providing uninterrupted credit to farmers under Kisan Credit Card and also for issue of fresh Kisan Credit Cards to all eligible farmers in the State, to rejuvenate their agricultural operations at ground level during this difficult situation, for Khariff Crops, he said.

 

 

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