NABARD to allot Rs 427.70 cr to TN under RIDF

Chennai, Sep 13 (UNI) The National Bank for Agriculture and Rural Development (NABARD) will allot Rs 427.70 crore to Tamil Nadu for the current year under the Rural Infrastructure Development Fund (RIDF), as against the total allocation of Rs 10,000 crore.

Talking to newspersons here today, NABARD's Chief General Manager K V Raghavalu said the bank had already sanctioned Rs 301 crore.

He said in 2005-06, out of Rs 8,000 crore corpus, the state's share was Rs 389.67 crore. A total of Rs 549 crore had been allocated during 2006-07 fiscal for refinancing various agencies in Tamil Nadu and Pondicherry, he added.

The bank would organise a ten-day exhibition to exhibit the products of women self help groups (SHG) in the city from tomorrow.

Mr Raghavulu said this was to facilitate direct marketing and improve the capacity building in marketing SHGs in urban areas.

This would result in the twin objectives of marketing and empowering rural women to earn livelyhood, he said.

Twenty women SHG's will take part in the exhibition.

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