NABARD Amplifies Rural Infrastructure with Rs 43,000 Crore Boost in Andhra Pradesh

The National Bank for Agriculture and Rural Development (NABARD) has disbursed nearly Rs 43,000 crore in loans and around Rs 32 crore in grants in Andhra Pradesh for FY25, according to Chief General Manager M R Gopal. Speaking during NABARD's 44th Foundation Day in Vijayawada, Gopal emphasized the significant progress the bank has made in rural infrastructure and credit expansion across the state.

The establishment of new district development manager offices in East and West Godavari and Nandyal districts is a strategic move to extend NABARD's grassroots impact. Gopal also reported a credit flow of more than Rs 29,000 crore achieved through refinancing to rural financial institutions, marking a notable achievement in supporting rural finance.

Efforts to digitize Primary Cooperative Societies were highlighted as a national benchmark, with Gopal acknowledging the support from the RBI, the State Level Bankers' Committee, and the Andhra Pradesh Grameena Bank in this initiative. Commending NABARD's contributions, officials called for increased convergence to achieve comprehensive financial inclusion and fortify cooperative frameworks statewide.

(With inputs from agencies.)