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The National Bank for Agriculture and Rural Development (Nabard) has pegged Telangana’s credit potential at ₹83,400 crore for the current financial year, as against ₹65,590 crore in the previous year. The potential for the current financial year includes ₹16,000 crore for term credit.
Nabard will provide a financial support of ₹12,200 crore in 2018-19, a growth of 15 per cent.
State credit plan
While the long-term refinance component will go up to ₹5,250 crore in 2018-19 from ₹4,750 crore last year, the infrastructure support will increase to ₹3,450 crore (₹2,723 crore). The district credit plan and the State credit plan to be prepared by the SLBC (State-level Bankers’ Committee) will consider this estimate, while preparing their plan for 2018-19. This report forms the basis for lending by the SLBC member banks to various sectors in the State.
Credit potential
Addressing a press conference here on Tuesday, P Radhakrishnan, Chief General Manager of Nabard (Telangana region), said the SLBC could achieve about ₹63,059 crore by December 31, 2017, as against the credit potential estimate of ₹65,590 crore for the full year 2017-18. Nabard had disbursed ₹10,633 crore for 2017-18, showing a growth of 15 per cent over the previous year’s achievement of ₹9,240 crore. In 2015-16, the assistance stood at ₹7,226 crore.
Irrigation projects
The bank has sanctioned ₹6,791 crore for the Mission Bagiratha, the programme launched by the Telangana government to take up irrigation projects. The cumulative disbursal for the programme stood at ₹3,884 crore so far. This includes ₹2,154 crore delivered last year.
“Refinance to cooperative banks and regional rural banks for crop loans would help them lend to farmers at an interest of 7 per cent. We gave ₹2,210 crore to the banks last year for this purpose,” Radhakrishnan said.
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