NABARD targets 27% growth in FY14 disbursements
Mumbai: The National Bank for Agriculture and Rural Development (NABARD) on Thursday said it is targeting a 26.68 percent growth in disbursements in 2013-14 at Rs 1,35,000 crore under its various initiatives.
The growth target is lower than the 31.55 percent achieved in FY13, during which it disbursed Rs 1,06,562 crore through its multiple lines, crossing the Rs 1 lakh crore mark for the first time, NABARD said in a statement here.
"During 2013-14, NABARD proposes to disburse an amount of more than Rs 1,35,000 crore under various business initiatives comprising production credit refinance of more than Rs 80,000 crore and investment credit refinance of Rs 17,000 crore," it said.
Additionally, the disbursements under the rural infrastructure development fund and warehousing are expected to be Rs 25,000 crore, while other initiatives, including NABARD Infrastructure Development Assistance (NIDA), will account for Rs 11,500 crore, it added.
In FY13, support to cooperative banks and regional rural banks for production contributed majorly for the growth, the statement said.
The specialised bank's asset book has grown to Rs 2,13,000 crore as on March 31, 2013 from Rs 1,82,075 crore as on March 31, 2012, posting an increase of 17 percent.