NABARD celebrates 41st foundation day
Hyderabad: Stepping into the fifth decade of its endeavor for the development of rural India, National Bank for Agriculture and Rural Development (NABARD) celebrated its 41st foundation day on Friday.
In his presidential address, Telangana State Cooperative Apex Bank Limited president K Ravinder Rao, who was the chief guest, lauded the role of NABARD for its contribution to rural India since its conception focusing on credit planning, supervision and credit plus approach.
He complemented NABARD for its various initiatives in institutional building of Regional Rural Banks (RRBs) and Rural Cooperative Banks (RCBs) over the years. He specifically thanked NABARD for the support in implementing Core Banking Solutions (CBS) in cooperative banks and transforming Primary Agricultural Credit Societies (PACS) into Multi Service Centers (MSCS).
Earlier, Telangana Regional Office Chief General Manager Y K Rao, in his welcome address, briefed the participants on the journey of NABARD over the years.
He informed about some of the major initiatives of NABARD towards achieving holistic development of rural India, formulating technically viable banking plan for investment credit to agriculture, conceptualizing short term crop loan through Kisan Credit Card (KCC), providing refinance to banks for capital growth in agriculture, assessment of potential tor lending to priority sector, piloting and spearheading Self Help Group (SHG) bank linkage programme and supervising cooperative banks among other initiatives.
He informed about the support being provided to the State government for implementing major rural infrastructure projects – Kaleswaram Lift Irrigation Scheme, Mission Kakatiya, rural godowns, schools, etc. Some of the other major initiatives are support to RARS for conceiving standard operating procedure for usage of drones in agriculture, support to a-IDEA-NAARM and Professor Jayshankar Telangana State Agriculture for setting up agri incubation centres to promote startups in agriculture.
He thanked all the stakeholders for their support and guidance which has enabled the organisation to serve the rural population and sought continuous collaboration in future.
