Financial Daily from THE HINDU group of publications
Friday, Jan 06, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 06, 2006 |
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Money & Banking
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Regional Rural Banks Nabard okays Rs 462 cr to RRBs in Kerala Our Bureau
THIRUVANANTHAPURAM: THE National Bank for Agriculture and Rural Development (Nabard) has sanctioned short-term refinance assistance of Rs 462.51 crore to the two regional rural banks (RRBs) operating in Kerala for 2005-06. The South Malabar Gramin Bank has been sanctioned Rs 285.35 crore, which represents a 26 per cent increase over the amount sanctioned for 2004-05. The North Malabar Gramin Bank gets the remaining amount of Rs 177.16 crore, which is 42 per cent more than the amount sanctioned for the previous year, according to a release from Nabard. The assistance is meant for supporting the banks' lending of crop loans to farmers and working capital requirements for production and marketing activities of rural artisans, and village and cottage industries in the tiny sector. It is also meant for financing of the weaker sections engaged in trade/business/services. In addition to these, Nabard has also provided refinance of Rs 62 crore for investment credit (term loans) granted by the RRBs in the State.
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