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The financial support of the National Bank for Agriculture and Rural Development to Tamil Nadu and Puducherry has jumped by 34 per cent over the previous year, according to a press release from the bank.
Tamil Nadu and the Union Territory of Puducherry received Rs 7,640 crore in 2012-13 as compared with the previous year’s Rs 5,687 crore.
Infrastructure
The release quoting Lalitha Venkatesan, Chief General Manager, said the refinance institution has sanctioned Rs 1,181 crore for infrastructure projects to Tamil Nadu under the Rural Infrastructure Development Fund during 2012-13; Rs 1,096 crore was released for irrigation works, schools, warehouses, and rural connectivity.
Under the investment credit portfolio for capital formation in agriculture, refinance support extended to all banks was Rs 1,463 crore during 2012-13. Short Term Refinance to Cooperative Banks and Regional Rural Banks for crop loans was Rs 3.307 crore; for marketing and other short-term loans Rs 545 crore; financing weavers’ societies Rs 205.09 crore and loans to co-operative banks for miscellaneous purposes under a new line of credit was Rs 160 crore.
Credit potential
The bank has estimated a credit potential of Rs 1.06 lakh crore and Rs 1,727.03 crore for Tamil Nadu and Rs 1,727 crore for Puducherry in 2013-14.
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