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National Bank for Agriculture and Rural Development (Nabard) has invested around Rs 8,400 crore during financial year 2012-13 in Karnataka to fund various development projects.
“We have disbursed the highest ever investment credit support for banks to the extent of Rs 1920 crore in Karnataka. This will improve the much needed capital formation for agriculture in the State,” S.N.A. Jinnah, Chief General Manager, Nabard, Karnataka Regional Office.
Farm finance
Jinnah, highlighting the Nabard’s performance during financial year 2012-13, said that in order to help the farmers in the consecutively drought-affected State, Nabard has extended concessional crop production finance at 4.5 per cent a year to the extent of Rs 5,377 crore to Cooperative Banks and RRBs.
With the full cooperation of the State government, Nabard has disbursed Rs 750 crore of financial assistance to Karnataka for creating rural infrastructure such as Raitha Samparka Kendras, Anganwadis, schools in rural areas, ITIs, rural roads and bridges.
“In addition, Rs 326 crore has been given as a special line of credit to co-operative banks to meet the financial needs under the direct window system,” explained Jinnah.
3-fold strategy
According to Jinnah, Nabard regional office has drawn up a three-fold strategy to bring about rural prosperity: by enhancing farmers’ livelihood and income levels, by providing effective and holistic financial inclusion and by institutional development of rural financial institutions, particularly co-operative banks and RRBs.
“In order to address agrarian distress, as many as 164 watershed projects covering over 2.21 lakh hectares in 24 districts were disbursed grant assistance of Rs 36 crore,” Jinnah said.
Under Tribal Development Programme, cumulatively 19,800 tribals have been provided financial support of Rs 9 crore and the regional office has taken initiatives to touch the lives of primitive tribes like Siddhis in Uttara Kannada and Sholigas in B R Hills.
Farmers’ clubs
Farmers’ Clubs, association of progressive farmers in a group mode at village level, are expected to be a highly effective linkage between banks, agriculture technology institutions and markets. An all time high of 1,417 Farmers’ Clubs have been formed during the year taking the total number of clubs to 8,617.
“These Farmers’ Clubs will be federated into Farmers’ Club federations to nurture them to become producers’ collectives as well as aggregators for commodity exchanges,” said Jinnah.
Promoting producers’ collectives in the form of Producers’ Companies and Producers’ Cooperatives is a promising area for farmers and rural producers to realise economies of scale both in input procurement as well as in agri-produce marketing.
Jinnah claimed that regional office stood first in the country in promoting Producers’ Collectives. During the year KRO has supported Regional Oil Seeds Growers Cooperative Societies’ Union Ltd. Chitradurga, The Totagar’s Cooperative Sales Society, Sirsi and SAHAJA Samruddha Organic Producer Company Ltd., to the extent of Rs.16.15 crore.
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