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Nabard
earmarks Rs 860 crore for rural development in Kerala
Jays Jacob
12 July 2003
Kochi:
National
Bank for Agriculture and Rural Development (Nabard) has
set a target of more than Rs 860 crore to give to the
Kerala government for rural infrastructural development
and the state financial institutions as credit for refinance
this year.
The
bank also plans to give micro-credits to more than 10,000
new self-help groups in the state, Nabard chief general
manager for Kerala B S Shekhawat said.
 Releasing
the perspective for the year 2003-04 in Thiruvananthapuram
on Friday on the eve of the 21st anniversary of Nabard,
Shekhawat said short-term investment credits worth Rs
315 crore have been earmarked for the rubber, tea and
coconut plantations and poverty alleviation programmes.
Credit
to the tune of Rs 367 crore will be distributed to regional
rural banks for financing crop production and the marketing
activities of weavers, artisans and coir workers.
 The
bank also plans to mobilise resources of more than Rs
15 crore in the state from the urban areas for eventual
investment in the rural areas. The resource mobilisation
will be through capital gains bonds, which will provide
attractive interest rates and also exemption from the
capital gains tax, he added.
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