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NABARD Frontloads Financial Assistance of Rs 20,500 Crore for Pre-Monsoon & Kharif Operations
Mumbai | 18 May 2020 08:40 PM

Mumbai: With a view to augment the resources of Cooperative banks and RRBs to enable them to extend credit to farmers for taking up pre-monsoon and kharif 2020 operations, NABARD has extended Rs 20,500 crore with Rs 15,200 crore to Cooperative Banks and the balance of Rs 5,300 crore to RRBs as special liquidity facility in various states. The Fund is given as a means of front loading the resources of these banks so as to ensure adequate liquidity with them for financing farmers. This is against Rs 5,000 crore lent during the first quarter of the last year. The banks have also initiated a programme of Saturation of KCC cards and about 12 lakh new KCC cards have been issued by Cooperative banks and RRBs during the last two months. Notably, a total of 4.2 crore KCCs have been issued by Cooperative banks & RRBs as on 31 March 2020.