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Nabard launches fifth Drip in West Bengal
Barasat, Mar 02: National Bank for Agriculture and Rural Development (Nabard) has launched its District Rural Industries Project (Drip) in North-24 Parganas, being the fifth district in West Bengal, for development of rural non-farm sector giving stress on financing.
Barasat, Mar 02: National Bank for Agriculture and Rural Development (Nabard) has launched its District Rural Industries Project (Drip) in North-24 Parganas, being the fifth district in West Bengal, for development of rural non-farm sector giving stress on financing.
Addressing the inaugural function here yesterday, Nabard’s chief
general manager of eastern region Dr T R K Rao said that the project
when implemented, would generate substantial employment opportunity,
particularly in the cottage and small industries sector, while
working with the thousands of self-help groups (SHG) and other
entrepreneurs of the district. North 24-parganas is having atleast
13,000 SHG, besides six thousand small co-operatives under DRDA,
who will be benefited from the Drip, he hoped.
While Nabard and other financial institutes and particularly the commercial banks were concerned about the existing credit-deposit ration due to non-recovery of loans from a large number borrowers and the financial institutions had already declared a large number of defaulters on the advice of the Centre, success of the Drip might be affected unless the state didn’t give stress on recovering the loans from the borrowers.
While Nabard and other financial institutes and particularly the commercial banks were concerned about the existing credit-deposit ration due to non-recovery of loans from a large number borrowers and the financial institutions had already declared a large number of defaulters on the advice of the Centre, success of the Drip might be affected unless the state didn’t give stress on recovering the loans from the borrowers.