NABARD 42nd Foundation Day: Cooperation Minister Amit Shah has asked NABARD to fix a target for financing agriculture sector and rural development for the next 25 years. At that time India will complete 100 years of its independence. Addressing the program organized on the 42nd foundation day of National Bank for Agriculture and Rural Development (NABARD), Shah said that all the employees of the organization should be involved in setting the target. Shah said that NABARD, which is engaged in development activities of finance and refinance in rural India, should fix targets keeping in view its past performance and future requirements. He also underlined the need for cooperation among cooperative organizations to promote rural development.
Rural economy is unimaginable without NABARD
Home Minister Amit Shah said that the country with 65 percent rural population cannot prosper without NABARD. Highlighting the achievements of this organization, which has played an important role in agricultural development and financing of rural infrastructure, he said, today a situation has come that we cannot imagine the rural economy without NABARD. The minister also appreciated the work being done by NABARD to promote Self Help Groups (SHGs) and help villages become self-reliant. NABARD came into existence on July 12, 1982 by transferring the agricultural credit functions of the Reserve Bank of India and the refinance functions of the erstwhile Agricultural Refinance and Development Corporation (ARDC).
In 1982 short term credit in agriculture finance was only Rs 896 crore
Amit Shah further said in his statement that in 1982, the short-term loan in agriculture finance was only Rs 896 crore, which has increased to Rs 1.58 lakh crore today. On the other hand, if we talk about long term loan, then this amount was Rs 1 crore, which has become Rs 2300 crore today. (with language input)
In 1982, the short-term credit in agricultural finance was just Rs 896 crore, which has become Rs 1.58 lakh crore today. On the other hand, if we talk about long-term loans, then this amount was Rs 1 crore, it has become Rs 2300 crore today: Union Home Minister Amit Shah pic.twitter.com/SPL1NrBvLp
— ANI (@ANI) July 12, 2023
