NABARD registers 24.2 percent loan growth in Bengal

The National Bank For Agriculture And Rural Development (NABARD) has loaned Rs.2,784.39 crore to financial institutions of West Bengal and the state government during the last fiscal, registering a growth of over 24.22 percent growth over 2010-11, an official said here Wednesday.

“In order to supplement the short-term funds of Cooperative Banks and Regional Rural Banks (RRBs) we provided refinance credit lines towards crop loans for seasonal agricultural operations,” NABARD West Bengal Regional Office (WBRO) Chief General Manager S. Padmanabhan saud at a press conference here.

“These banks availed Rs.1010.96 crore short-term loans from NABARD, WBRO during 2011-12, registering 18.22 percent growth as against Rs.855.09 crore during 2010-11,” said Padmanabhan.

The bank continued to support SHG Bank Linkage Programme by extending Rs.100 crore refinance to the banks for their lending to self-help groups, the chief general manager added.