NABARD to launch ₹1000-crore blended fund for agri-startups: chairman Shaji KV
Live MintNew Delhi: The National Bank for Agriculture and Rural Development will launch a ₹1,000-crore fund to bolster technology-driven agri-startups and rural enterprises, said chairman Shaji K.V. While the government has been doing a lot in terms of agri-infra fund scheme, animal husbandry infrastructure development fund, and food processing fund, etc., the money is going to traditional farmers or existing players, he said. To mitigate credit risk and ensure banks in eastern and central India can lend more, we are proposing some form of collateral in terms of social guarantee, or a guarantee fund.” Data released by the Union Agriculture Ministry reveals that in FY22, 48% of the agricultural credit disbursed, amounting to ₹21 trillion, was directed to five southern states – Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, and Kerala. On the other hand, five northern states – Rajasthan, Punjab, Haryana, Jammu & Kashmir, and Himachal Pradesh – received around 17% of the total credit flow, amounting to ₹3.38 trillion, despite representing 20% of gross cropped area.
History of this topic
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Cut in NABARD funding to hit interest-free loans in Karnataka
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9 years of Modi govt will be written in golden letter for eradication of poverty & development of agriculture
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NABARD assistance: Record utilisation of ₹800-cr funds for rural infra projects in Punjab: Minister
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Budget 2023: Centre hikes farm credit target by 11% to Rs 20 lakh crore for FY24
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NABARD Sanctions Rs 1,568 crore Worth of Proposals Under Agriculture Infrastructure Fund
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NABARD to Disburse Rs 1.20 Lakh Crore Crop Loan to Farmers This Fiscal
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