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NABARD report shows higher credit potential in AP

Written by: Staff

Hyderabad, Apr 20 (UNI) The National Bank for Agriculture and Rural Development (NABARD) has put the credit potential of priority sector, including agriculture, in Andhra Pradesh at Rs 32,574 crore during 2006-07.

The state focus paper of the NABARD said this represented a growth of 10.70 per cent over the credit potential identified during 2005-06, a release here today said.

NABARD extended a higher credit support of Rs 4,789.52 crore in 2005-06, marking an increase of 37.85 per cent over the previous year 2004-05, it said.

This included Rs 2,102.92 crore as production credit support to banks, Rs 751.71 crore as investment credit support to banks and Rs 1367.57 crore as RIDF loans. Disbursement to agriculture was to the tune of Rs 14,492 crore.

Under RIDF-XI, the state was sanctioned fresh loans to the tune of Rs 1,367.57 crore, highest in the country, for improving critical rural infrastructure, including irrigation, roads and primary health centres, it said.

NABARD disbursed Rs 751.71 crore as refinance to banks in the state for supporting long term private investment in agriculture, allied activities, self-help groups and non-farm sector.

The state continued to dominate the microfinance scenario in the country with a credit disbursment of about Rs 1,500 crore during 2005-06, providing credit linkage to an estimated 2.90 lakh SHGs, including 48,988 new groups.

It provided refinance support of Rs 475.97 crore during the year to banks in the state for SHG-Bank linkage programme, it added.

UNI SM GM 1615

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