February 9, 2014 11:58 AM

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NABARD sanctions loans worth over Rs. 19,100 crore under RIDF

National Bank for Agriculture and Rural Development, NABARD has sanctioned loans worth over Rs. 19,100 crore under Rural Infrastructure Development Fund (RIDF) to states for agriculture and allied activities.NABARD Chairman H K Bhanwala said, over Rs. 19,000 crore were sanctioned till last week out of Rs. 20,000 crore allocated for 2013-14 in the Budget.In its last meeting, the financial institution sanctioned 33 projects under agriculture and allied sector, 250 projects under rural connectivity sector and 804 projects under social sector with the total outlay of over Rs. 6,000 crore. RIDF was instituted in NABARD with the sole objective of giving low cost fund support to state governments and State Owned Corporations for quick completion of projects related to medium and minor irrigation, soil conservation, watershed management and other forms of rural infrastructure.

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