Govt asks NABARD to release Rs.21k cr to help farmers
The Dollar Business Bureau (sourced from PTI) Government has allowed NABARD to disburse Rs.21,000 crore to cash-starved farmers, helping them sow winter crops like wheat ahead of the sowing season, Economic Affairs Secretary Shaktikanta said today. The government's demonetisation move, which swept away 86% of currency in circulation, has badly hit farmers leaving them without cash just ahead of the sowing season. Das said the National Bank for Agriculture and Rural Development (NABARD) will disburse the money to farm cooperatives for onward payments to farmers. "NABARD, for the facility of agricultural operations in the current rabi season and especially for the benefit of farmers, has sanctioned a special limit of Rs.21,000 crore to district central cooperative banks," he told reporters here. More than 40% small and ...
Banks disbursed less amount of loan to non-food sectors last fiscal
The Dollar Business Bureau Banks disbursed less amount of loan to non-food sectors during the last fiscal as compared to the credit extended to various sectors a year ago. Non-food bank credit grew by only 8.6% between March 2014 and March 2015. During previous year, the credit was increased by 14.3%, according to the latest data of the Reserve Bank of India (RBI). The data on disbursal of bank credit collected from select 47 scheduled commercial banks shows that non-food sector accounted for about 95 per cent of the total loan disbursal. However, the credit to agriculture and allied activities increased by 15% during 2014-15. The credit growth in this sector recorded 13.5% increase a year ago. Experts say that sluggish ...
