Business & Finance

NABARD to lend Rs 21,000 crore to Madhya Pradhesh

A senior official of National Bank For Agriculture And Rural Development (NABARD) today said that NABARD would give Rs 21,000 crore to the Madhya Pradesh government in the current financial year.

Speaking to reporters here, NABARD’s Chief General Manager S K Bansal said, “NABARD’s NPAs are zero.

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It is the only institution in the country without NPAs.” NABARD would lend Rs 21,000 crore to the Madhya Pradesh government in Fiscal Year 2018-19, out of which Rs 4,000 crore would be for irrigation, roads and infrastructure in rural areas, Rs 3,000 crore for Civil Supplies Corporation and MP State Cooperative Marketing Federation Limited (Markfed), Rs 10,000 crore to cooperative banks for the purpose of agricultural credit, and Rs 4,000 crore to commercial and cooperative banks for investment in the agriculture sector, he said.

In the last three years, NABARD has given Rs 2,000 crore every year to the Madhya Pradesh government for works
related to roads, bridges and irrigation among other things, Bansal said.

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