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States » NorthPosted at: Apr 3 2025 3:07AM


NABARD sanctions Rs 937.24 cr for 152 projects to J&K Govt

Jammu, Apr 2 (UNI) The National Bank for Agriculture and Rural Development (NABARD), Jammu and Kashmir has sanctioned Rs 937.24 crore for 152 projects to the government of Jammu and Kashmir during the financial year 2024-25, of which 21 projects pertain to Agriculture and Farmer Welfare Department amounting to Rs 101.09 crore,
The Chief General Manager, NABARD, Jammu, Bhallamudi Sridhar, informed that during the financial year 2024-25, the bank has sanctioned Rs 937.24 crore for 152 projects to Govt. of J&K UT, of which 21 projects pertains to Agriculture and Farmer Welfare Department amounting to Rs 101.09 crore, 92 projects amounting to Rs 529.39 crore for Rural Road connectivity.
“Under Flood Protection and Irrigation projects (Jal Shakti) 12 projects amounting to Rs 160.55 crore, under Health and Medical Education one project amounting to Rs 38.24 crore and under Animal Husbandry and fisheries sector, 23 projects amounting to Rs 79.78 crore have been sanctioned under RIDF XXX tranche,” he said in a statement here on Wednesday.
The NABARD notably, is covering all the districts of UT of Jammu and Kashmir and UT of Ladakh through 13 District Development Managers posted in various district headquarters and through its Regional Office, Jammu and Sub office Srinagar.
He said that NABARD has recorded a substantial increase in its refinance disbursements over the last three financial years, underscoring its continued commitment to strengthening the rural credit delivery system in the Union Territory.
“In the financial year 2022–23, NABARD J&K RO disbursed Rs 353.94 crore under various refinance schemes,” adding he said that the upward trajectory has continued in the financial year 2024–25, with release of Rs 721.18 crore reflecting a remarkable growth of over 100 percent within a short span of two years, including the release of Rs 24 crore under the Special Refinance Scheme for Aspirational Districts.
This marks the first time refinance has been extended under this scheme in the region, aimed at catalyzing development in identified aspirational districts through targeted credit support, he stated.
Aligned with its mandate to promote financial literacy and inclusive banking, NABARD J&K Regional Office has disbursed an amount of Rs 7.93 crore as a grant under the Financial Inclusion Fund (FIF) to various banks operating in J&K and Ladakh, said the Chief General Manager. UNI VBH SSP
Tags: #NABARD sanctions Rs 937.24 cr for 152 projects to J&K Govt
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