Telangana Govt Signs MoU with NABARD for ₹ 874-Crore Loan

Telangana Government has signed MoU with NABARD here for a loan of ₹ 874 crore. Loan is for Horticulture Development Corporation to cover 3.15 lakh acres under Micro Irrigation scheme for 2016 - 17 and 2017 - 18.

Telangana Govt Signs MoU with NABARD

Highlights

  • Agriculture Secretary C Parthasarathi and Nabard Chief Managing Director (Hyderabad region) Radhakrishnan signed on e MoU at NABARD office.
  • NABARD will provide ₹ 874 crore loan to Telangana government for supply of drip irrigation equipment to farmers.
  • Nearly 42.82 lakh farmers in State depend upon village tanks and bore wells for cultivation.
  • It is essential to have drip and sprinkler cultivation, for judicious utilization of groundwater.
  • Drip irrigation facility would be extended to 3.15 lakh acres during period of 2016 - 18.

About National Bank for Agriculture and Rural Development (NABARD)

About NABARD and Logo
  • Headquarters: Mumbai, Maharashtra, India
  • Established: 12 July 1982
  • Chairman: Dr. Harsh Kumar Bhanwala
  • It is an apex development bank in India.
  • The Bank has been entrusted with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India” .
  • NABARD is active in developing financial inclusion policy.
  • It is a member of Alliance for Financial Inclusion.

Examrace Team at Aug 21, 2021