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Our Bureau

Chennai, April 11 The National Bank for Agriculture and Rural Development is likely to provide over Rs 1,345 crore assistance to Tamil Nadu for the revival of its cooperative banks.

Addressing the annual press conference here, Mr K.V. Raghavulu, Chief General Manager, Nabard, said that, following an MoU signed between the State Government, Government of India and Nabard, the 4,501 Primary Agricultural Cooperative Societies, 22 District Central Cooperative Bank and State Apex Cooperative Banks in Tamil Nadu would be covered under the revival package.

The revival package envisages that the credit business losses as on March 31, 2004, would be fully borne by the Centre and the non-credit business would be shared equally between the Centre and the State Government.

A special audit is on and is expected to be completed in two-three months.

The long-term cooperative credit structures and the land development banks are also to benefit from a revival package covering the accumulated losses as on March 2007.

The total revival package envisaged by the Centre for the entire country is about Rs 3,074 crore, he said.

During 2007-08, Nabard sanctioned over Rs 2,357 crore to Tamil Nadu and Puducherry, with disbursements estimated at about Rs 1,931 crore. This included Rs 956.82 crore sanctioned under the Rural Infrastructure and Development Fund with disbursement of Rs 801.68 crore in 2007-08.

As on March 31, 2008, the cumulative sanction under RIDF is Rs 5,515 crore with disbursements of Rs 3,723.51 crore.

Over 71,300 self-help groups were credit linked during the year with bank loan disbursements estimated at Rs 475.74 crore.

Tamil Nadu is the second largest supporter of SHGs after Andhra Pradesh.

The bank loan disbursed to SHGs is estimated at a total of Rs 4,320 crore benefiting over 4.74 lakh SHGs.

Cumulative refinance as on March 31, 2008, was Rs 1,784.02 crore.

As a part of the future programme, Nabard envisages implementing 100 watershed developments in the State with a target of Rs 500 lakh.

As on March 31, 2008, the watershed development programme has covered 119 watersheds in 23 districts covering over 1.10 lakh ha.

Nabard has lent the State Government Rs 353.82 lakh and a grant of Rs 233.17 lakh.

The bank has allocated Rs 60 crore under watershed development fund for the State.

More Stories on : Co-operatives | Agricultural Institutions | Tamil Nadu

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