NABARD provided Rs 6,200 cr in development assistance to J'khand in FY 2023-24

The National Bank for Agriculture and Rural Development (NABARD) on Monday said it has provided Rs 6,200 crore in development assistance to Jharkhand during the 2023-24 fiscal.

''NABARD, India's apex rural development financial institution, has provided a record development support of Rs 6,20,000 lakh (Rs 6,200 crore) to Jharkhand.

''During FY 2020, rural financial institutions (RFIs) in Jharkhand had availed of refinance amounting to only Rs 10,500 lakh (Rs 105 crore). This increased by over 40 times and banks in Jharkhand availed of refinance amounting to Rs 4,08,139 lakh (Rs 4,081 crore) in 2023-24,'' NABARD said in a statement.

The lion's share of Rs 2,896 crore was availed of by Jharkhand Rajya Gramin Bank and Jharkhand State Cooperative Bank, it said.

Additionally, it also provided support to the state government for the creation of rural infrastructure for improving irrigation, access to health, water, sanitation, education and connectivity, among others.

Some of the major projects, as per the statement, included four mega lift irrigation schemes creating irrigation potential of 1,03,278 hectares of land, four dairy processing plants with a total capacity of 2,50,000 litres per day, major bridges such as Dishom Guru Shibu Soren Bridge on Mayurakshi River in Dumka and Mango-Dimna road-cum-bridge in Jamshedpur.

Further, NABARD said it provided financial support to the tune of Rs 250 crore to the state government to fast-track the Subernarekha multi-purpose project, which will irrigate 2,36,000 hectares of land.

Additionally, NABARD has supported 77 drinking water projects which will benefit people in all 24 districts of the state.

''To provide market access and facilitate input supply, NABARD has promoted 244 Farmers Producers Companies (FPCs) across the state, which will benefit about 2,00,000 farmers and increase their income by 25-30 per cent,'' it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)