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)
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.