NABARD infuses Rs 1.46 lakh cr in rural banking system during current fiscal

National Bank for Agriculture and Rural Development (NABARD) has infused 1.46 lakh crore rupees in the rural banking system during the current fiscal.

In a statement, NABARD has said that 66,397 crore rupees have been given in short-term credit and 6,704 crore rupees in long-term credit to rural cooperative banks. Regional rural banks have availed 14,141 crore rupees in short-term credit and 8,417 crore rupees in long-term credit. In addition, other banks, including small finance banks, have obtained long-term refinance of 37,895 crore rupees.

While short-term refinance is essentially production credit, long-term refinance is aimed at supporting sectors like dairy, poultry, fishery, farm mechanisation, irrigation, and non-farm sectors, among others.