Updated By: LatestGKGS Desk
NABARD approved over Rs 65 crore loan for 93 irrigation projects under PMKSY
NABARD approved over Rs 65 crore loan for 93 irrigation projects under PMKSY: Details, Purpose, Highlights
National Bank for Agriculture and Rural Development (NABARD) has approved Rs 65,634.93 crore loan so far to 93 facilitate irrigation projects under Pradhan Mantri Krishi Sinchai Yojana (PMKSY).
NABARD is funding the central and state share of 99 prioritized irrigation projects under PMKSY through long-term irrigation fund (LTIF). It is mandated to provide Rs 70,000 crore loan to these projects to be finished by 2019.
Under it, out of the 99 prioritized irrigation projects NABARD has sanctioned Rs 65,634.93 crore loan for 93 projects so far.
Already, Rs 23,402.72 crore was disbursed for 86 projects, which includes the central share of 15,242.02 crores and state share of Rs 8,160.70 crore.
18 projects have been finished so far and 7 projects will be finished very soon.
Maximum projects sanctioned are in Uttar Pradesh. Bigger irrigation projects sanctioned are in Maharashtra, Telangana and Madhya Pradesh also.
About the National Bank for Agriculture and Rural Development (NABARD)
National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India. It is entrusted with matters concerning policy, planning, and operations in the field of credit for agriculture and other economic activities in rural areas in India.
Founded: 12th July 1982
Chairman: Harsh Kumar Bhanwala
Headquarters: Mumbai
