National Bank for Agriculture and Rural Development (NABARD) the apex development financial institution, has been endeavoring, since its inception on July 12 1982, to contribute significantly to cause of agriculture and rural development as an active partner of the State Government, Banking System and non – government organisation / voluntary organisations.
According to NABARD general manager K.C Panda, in Nagaland, cumulatively NABARD had sanctioned 793 infrastructure projects to government of Nagaland pertaining to various sectors with a commitment of Rs. 62852 lakh.
During 2009-10 aggregate sanctions for 308 projects amounts to Rs. 18708 lakh. This includes 56 agri-link road projects, 94 soil conservation projects, 10 horti-link road projects, 120 fisheries projects, 11 rubber plantation projects, 4 road projects and 13 bridge projects.
It has made cumulative disbursement of Rs. 25517 lakh to the State Govt. against the above sanctions. In 2009-10 alone, it has disbursed Rs. 5605 lakh to the state government.
National Bank for Agriculture and Rural Development has also provided refinance to the banks to the extent of Rs. 508 lakh in 2009-10.
The refinance norms for North Eastern States are relaxed in terms of liberal eligibility criteria, concessional interest rate and higher quantum of refinance i.e. 100% of the disbursement.
Revival Package for Co-operative Credit Institutions in terms of Vaidyanathan Committee’s recommendations is in the process of implementation. The process of amendment to Co-operative Society Act has begun
National Bank for Agriculture and Rural Development is embarking upon several unique developmental interventions in Nagaland. It has sanctioned 24 long-term projects with NABARD’s commitment at Rs. 879 lakh.
These projects include three livelihood based projects from Tribal Development Fund - one each in Peren, Tuensang and Dimapur districts - with it’s commitment of assistance at Rs.501.54 lakh which will benefit 1650 tribal families; Four Non Farm sector Innovative projects - one each on Naga Chili, Beekeeping, manufacture of Hydroger and Carpet Weaving Training - with assistance of Rs. 65.47 lakh; two cluster development projects - one on Food Processing and the other one on Beekeeping- with NABARD’s commitment at Rs. 112.65 lakh; 05 Rural Market projects with National Bank for Agriculture and Rural Development assistance at Rs.25.00 lakh; one Farm Innovative Project on Rain water Harvesting Structure with treadle pump as water lifting device with NABARD’s commitment at Rs. 5.28 lakh; one Farm Technology Transfer Project on zero energy cool chamber with NABARD’s commitment at Rs.0.77 lakh; one Revolving Fund Assistance Project with NABARD commitment at 10.72 lakh, 06 SHG Promotion project with NABARD’s commitment at Rs.37.50 lakh; one Financial Inclusion Project on Micro Credit with VDBs as financial intermediary with NABARD’s commitment at Rs.120 lakh.
These are experimental and demonstrative projects focused on the over-all development of agriculture and rural Nagaland. They are at various stages of implementation.
Against these projects, a total grant assistance aggregating Rs. 216.26 lakh has been released during the current year taking the cumulative assistance to Rs. 347.66 lakh.
National Bank for Agriculture and Rural Development is into capacity building in micro credit, micro enterprise etc. and in 2009-10 it has supported as many as 23 programmes with grant assistance of Rs.6.11 lakh.
As the initiatives that emanate from people result in sustainable outcome, NABARD facilitates promotion of people’s organization called Farmer’s Club and encourages them to embark upon development activities including propagation of principles of development through credit, development by adoption of technology and organizing training programmes. In the year 2009-10, NABARD has launched 34 Farmer’s Club and cumulatively, there are 48 Farmers Club in the State as on March 2010.
The assistance extended by National Bank for Agriculture and Rural Development to these Farmers Clubs during the current year stands at Rs. 3.42 lakhs.
The supplementing efforts put in by NABARD to kick-start the indigenous Micro Credit Programme through VDBs in 2004 as a pilot programme (for 25 VDBs) have grown to a mainstream programme in the state.
The Agriculture Debt Waiver and Debt Relief Scheme 2008 have been successfully implemented by banks within the deadline.
NABARD played an active role in implementing the scheme in respect of Nagaland Rural Bank and Nagaland State Cooperative Bank. The amounts involved in the debt waiver to the extent of Rs. 1264.62 lakh has been released to Nagaland SCB and Nagaland Rural bank by National Bank for Agriculture and Rural Development.
It has been undertaking preparation of Potential Linked Credit Plans (PLPs). It has completed the same exercise for all the 11 districts of the State and has projected a sum of Rs262 crore as credit outlay for the year 2010-11. It is expected that banking community will make use of the PLPs as reference document for their credit planning exercise.