NABARD sanctions Special Liquidity Support of Rs.1500 crore for the farmers of Punjab amidst COVID19 pandemic
In the wake of the Covid-19 pandemic, National Bank for Agriculture and Rural Development (NABARD) has made available a special liquidity facility (SLF) of Rs 25,000 crore nationwide for providing liquidity support to State Cooperative Banks, Regional Rural Banks, and micro finance institutions (MFIs) during 2020-21 with a view to ensuring continued flow of credit to farmers to carry out their agricultural operations smoothly even during Covid-19 pandemic period. As per the Press Release Sh. J. P. S. Bindra, Chief General Manager, NABARD, Punjab Regional Office informed that in Punjab, NABARD has sanctioned a sum of Rs. 1500 crore under this Fund, out of which an amount of Rs.1000 crore has been sanctioned to Punjab State Cooperative Bank and Rs.500 crore to Punjab Gramin Bank. NABARD has so far disbursed Rs. 1100 crore in Punjab. Rs.1000 crore released to Punjab State Cooperative Bank for supporting agricultural and other activities of farmers through PACS and Rs.100 crore to Punjab Gramin Bank for agriculture operations in the State.
NABARD sanctions Special Liquidity Support of Rs.1500 crore for the farmers of Punjab
Sh Bindra informed that this fund is a front-loaded liquidity support provided to these banks with a view to ensure continued flow of credit to farmers to carry out their agricultural operations for Kharif crops smoothly during this difficult situation. This will provide relief to the farmers and enable them to take up post harvesting operations and preparation for Kharif crops when the banks are facing shortage of liquidity as most of the economic activities are under lockdown.
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