NABARD Infuses Rs 1.46 Lakh Crores in Rural Banking System
National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution that often extends financial help to banks operating in rural India so that the farmers could meet their credit needs. The institution has recently announced that it has infused Rs 1.46 Lakh crores in the rural banking system during the current fiscal.
NABARD has announced that 66,397 crore rupees have been provided in short-term credit and 6,704 crore rupees in long term credit have been given to rural cooperative banks. In the kitties of regional rural banks, an amount of Rs 14,141 crore in short term credit and Rs 8,417 crore in the long term credit have been given. Furthermore, other banks such as small finance banks have obtained long-term refinance of Rs 37,895 crore.
Bengal potato farmers make a killing on lower output
Lufthar Rahaman, a 46-year-old potato farmer from Gurap village in Hooghly district, approximately 65 km from Kolkata, is fetching around four times more on his potatoes this year on the back of anticipated fall in production.
Rahaman is earning nearly ₹520 for a bag of potatoes (one bag contains 60 kg) this year, compared with ₹120-130 a bag same period last year. Productivity is down by around 29 per cent on account of unfavourable weather conditions.
Tea Board issues notices to factories for flouting norms
Tea Board has issued showcause notices to 16 biofertiliser and eight instant tea factories located in different parts of South India for alleged violations of statutory requirements.
Four teams of board officials conducted inspections and discovered several deviations from the Board’s regulations,” Tea Board Executive Director M Balaji said.
“These units have not maintained statutory records properly. They failed to produce relevant details on the sale of their end products,” the ED said.