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National Bank provides Rs 462 crore for execution of 139 projects in J&K last fiscal

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JAMMU, JULY 13: National Bank for Agriculture & Rural Development (NABARD) provided Rs 462 crore in 2019-20 for execution of 139 projects in Jammu & Kashmir.

In the midst of ongoing pandemic, NABARD has stepped into its 39th year of formation on July 12, 2020, even as it has made path breaking contribution in the development of the UT of J&K and Ladakh in last few years. The National bank has also witnessed a change of guard in J&K with R K Srivastava having taken over as Chief General Manager.

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NABARD sanctioned Rs.462 crore for execution of 139 projects during 2019-20. As on 31 March 2020, cumulatively 3785 projects are sanctioned with RIDF loan of Rs 6821.27 crore. These projects will cover 15537 km of road length, 12814 meter of bridge length, construction of 1400 school rooms, 80 veterinary hospitals etc. Around population of 15 lakh benefitted from Water Supply Scheme(WSS) projects.

NABARD also supported the banks operating in UT with refinance assistance of Rs.152 crore during 2019-20 for meeting the crop loan requirements and agri-term loan activity like dairy, poultry, sheep husbandry. J&K Gramin Bank was our major partner.

NABARD has promoted 17 Farmer Producer Organizations (FPO)s since the inception of FPO concept in the UTs of J&K and Ladakh benefitting 2300 farmers. The FPO platform provides for aggregation of produce by small farmers and achieving economies of scale.

NABARD has also promoted the first Off Farm Farmer Producer Organization (OFPO) named as Shehar Carpet Producers Company with a membership of 300 weavers in Baramulla and Bandipura districts of Kashmir. The OFPO has since started production and marketing of carpets.

With a view to address the problem of water shortage, two Spring-shed based watershed projects were sanctioned, one each in the UTs of J&K and Ladakh. The project in Leh involves creation of 3 artificial glaciers which will help in irrigation in critical sowing season April-May and will benefit 1643 villagers. Spring shed development project in Khiram village of Anantnag will help in rejuvenation of the springs in the village and benefit a population of 18300.

The first ever watershed project of J&K UT covering 1003 ha in 7 villages in Kathar Rajool Panchayat of Samba district was implemented successfully. The project outcomes are increased water availability, crop productivity and significant increase in milk production. One more watershed project is under implementation in Channi Mansar area of Udhampur district.

NABARD also provided support to Commercial Banks, Cooperatives and RRBs and India Post payment bank for furthering financial inclusion through different schemes viz. Mobile VAN, PoS, Financial Literacy Programmes etc. during the year 2019-20.

In order to commemorate the foundation day, NABARD has sanctioned 6 projects viz. 3 demonstration vans and 434 Financial Literacy programme to J&K Grameen Bank, formulation of 100 JLGs to VOESEP, Ananatnag, Skill Development Programme on Aari and Embroidery to VOESEP, Eshakti digitization of SHGs in Udhampur and Samba districts.