NABARD agrees to provide Rs 990 crore under RIDF

Hyderabad, Aug 21 (UNI) NABARD Chairman Dr Y S P Thorat today called on Andhra Pradesh Chief Minister Y S Rajasekhar Reddy here and agreed to provide Rs 990 crore under the Rural Infrastructure Development Fund (RIDF), to support the rural infrastructure scheme ''INDIRAMMA''.

Assuring the release of funds within two weeks of submission of proposals, he requested the State Government to submit revised proposals with necessary justification.

Dr Thorat also agreed to increase refinance support to APCOB from Rs 1180 to Rs 1530 crore under ST Loans.

The Chief Minister had agreed to sign a MoU for implementation of the Vaidyanathan Committee report on August 28.

Mr Thorat agreed to extend major support for training and capacity building of Rythu Mitra Groups in a big way.

He also agreed to provide necessary support for financing village organisations through banks. Proposal for creation of post harvest and marketing infrastructure in villages would be examined in detail in association with Indira Kranthi Patham.

On issues regarding Micro Finance Institutions, it was mentioned that incorporation of suitable provision would be explored on issues of reasonable interest rate, transparency and borrower protection, in the proposed legislation on regulation of Micro Finance institutions.

NABARD Chairman also agreed to refinance the housing loans under Indiramma Programme at lower interest rates.

UNI JRK AJ MS PC2201