NABARD Funds Rs 12,767 crore to Cooperative Banks & Railway Recruitment Boards

National Bank for Agriculture and Rural Development (NABARD) has disbursed an amount of Rs 12,767 crore this week to State Cooperative Banks (StCBs) and Regional Rural Banks (RRBs) across the country in a bid to augment their resources during the ongoing lockdown conditions for extending credit to farmers.

NABARD has extended the refinance to the rural banks in 15 states so far including Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Karnataka, Kerala, Madhya Pradesh, Odisha, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal.

Notably, NABARD has augmented resources to the tune of Rs 30,021 crore to the rural banks since the second half of March 2020 when the lockdown came into force in different states as a measure to contain the spread of COVID-19 pandemic.