Karnataka - Shimoga   

Shimoga selected for rural credit flow under DRIP

Special Correspondent

NABARD launches new scheme for infrastructure development

FOR BETTER FINANCES: Chief General Manager of NABARD B.B. Mohanty addressing the gathering at the launching of the District Rural Industries Project (DRIP) in Shimoga on Monday.

SHIMOGA: Chief General Manager (Regional Office Bangalore) of the National Bank for Agriculture and Rural Development (NABARD) B.B. Mohanty said here on Monday that the District Rural Industries Project (DRIP) being implemented by NABARD in seven districts of the State, including Shimoga, was aimed at creating better infrastructure and credit flow for encouraging industrial activities in rural areas in five years.

Mr. Mohanty, who was present at the launch of DRIP, said the new project involved focused plan intervention and convergence of all rural industrial activities with the NABARD playing a proactive role in it.

He said the Centre decided to introduce the DRIP in 100 districts throughout the country after the pilot project implemented in five districts in the Nineties evoked a positive response. He said the committee had suggested that DRIP be extended to more districts.

Better credit flow

The implementation of the pilot project resulted in the better credit flow and the improved recovery of the advances made by banks and other financial institutions. He said two more districts, including Shimoga, were being brought under DRIP this year. Mr. Mohanty said DRIP envisaged a greater scope and speed in the extension of financial support to the innovative enterprises and stressed the need for a better coordination between the departments concerned within a district by creating the policy environment and result-oriented credit linkages to ensure prompt repayment. He said: "The participatory approach through the proper interventions is the hallmark of the DRIP." He urged everyone involved in the scheme to ensure that results were achieved. Mr. Mohanty said the State is in the forefront of implementing NABARD-sponsored rural oriented development programmes. The State Government has given its approval to the proposal to implement the Rs. 600-crore project to develop rural industries.

Assistant General Manager of the Lead Canara Bank V.R. Bylur emphasised the need for effective implementation of the Action Plan for DRIP in Shimoga district, which had the potential to emerge as an industrially strong district. Zilla Panchayat Chief Executive Officer Shivakumar, who released the Action Plan of the DRIP, hoped that the migration of people from rural areas to urban centres can be checked, if adequate jobs are created by way of opening new agro-based industries. A potential linked credit plan was prepared in September to pursue the possibilities in promoting industrial activities in rural areas.

Lead Bank Manager M.S. Lalasangi and NABARD Assistant General Manager Krishna spoke.

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Shimoga selected for rural credit flow under DRIP

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