National Bank for Agriculture and Rural Development (NABARD) has mentioned that the banks and cooperatives have disbursed Rs 17.09 trillion price of agriculture credit score throughout 2021-22 in opposition to a goal of Rs 16.5 trillion.
Releasing Nabard’s monetary outcomes on Thursday, chairman GR Chintala mentioned the share of crop loans is about Rs 10 trillion and the remaining Rs 7 trillion disbursed for agri-infra and different long-term initiatives. The farmers get crop loans at a 7% of rate of interest because the Centre subsidises 2% of curiosity. But these farmers who promptly repay the mortgage throughout the deadline get an extra rebate of three%, he mentioned.
NABARD’s asset measurement elevated from Rs 6,57,798 crore as on March 31, 2021 to Rs 7,57,905 as on March 31, 2022, registering progress of 15.22% in FY2022. The financial institution’s steadiness sheet additionally grew to Rs 7,57,246 crore in measurement for FY22 as in comparison with Rs 6,57,798 crore for FY21, up by 15.08%.
The mortgage portfolio of the financial institution has elevated to Rs 6,80,731 crore as of March 31, 2022, from Rs 6,03,000 crore as of March 31, 2021; registering a progress of 12.89%. The whole disbursement in the course of the fiscal stood at Rs 3,77,086 crore as in opposition to Rs 3,50,022 crore within the final fiscal, marking a progress of seven.73%. NABARD has reported an all-time excessive to refinance disbursement of Rs 2.68 trillion in the course of the 12 months 2021-22 as in opposition to a complete refinance disbursement of Rs 2.23 trillion prolonged within the earlier 12 months.
The long-term refinance disbursement touched Rs 1,16,000 crore as in comparison with Rs 92,786 crore throughout FY21, marking a progress of 25.02% over the earlier 12 months. The doubling farmers’ earnings (DFI) reported an all-time excessive short-term disbursement with Rs 1,52,430 crore throughout 2021-22 as in opposition to Rs 1,30,964 crore disbursed throughout 2020-21.
Supporting the monetary establishments within the second and third waves of the pandemic, NABARD mentioned the financial institution infused ample liquidity by disbursing Rs 24,399.44 crore below a particular liquidity facility. NABARD additionally disbursed a concessional refinance of Rs 15,000 crore from the long-term rural credit score fund to regional rural banks (RRBs) and cooperative banks (CBs) for enhancing capital formation in agriculture. Further, NABARD prolonged refinance assist of Rs 8,820 crore to the NBFC sector and Rs 3,447 crore to the small finance banks to resolve the liquidity woes confronted by the microlenders.
Source: www.financialexpress.com”