NABARD sanctions Rs 1,500 crore to Kerala State Co-operative Bank
Kerala

NABARD sanctions Rs 1,500 crore to Kerala State Co-operative Bank

Agency News

Thiruvananthapuram, Sep 26: NABARD has sanctioned Rs 1500 crore to Kerala State Co-operative Bank (KSCB) towards crop loan under Short Term (Seasonal Agricultural Operations) for the year 2017-18.

NABARD has enhanced the Budget from its original allocation of Rs 1100 crore to Rs 1500 crore under Short Term Cooperative Credit Fund (STCRCF) in the wake of unprecedented floods affected Kerala and to help the farmers under co-operative fold, an official release said here on Wednesday.

The NABARD has sanctioned the loan towards refinance for issue of fresh crop loans under short term (Seasonal Agricultural Operations) for the year 2017-18.

Earlier, during the month of August 2018, NABARD has sanctioned Rs 800 crore to Kerala Gramin Bank towards short term refinance for issue of fresh crop loans to farmers whose crops have been damaged due to recent floods.

The bank has so far utilized an amount of Rs 656 crore out of the sanctioned limit of Rs 800 crore, the release said. (UNI)

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