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Kerala
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Thiruvananthapuram
Thiruvananthapuram: Chief Minister V.S. Achuthanandan has urged the National Bank for Agriculture and Rural Development (NABARD) to extend support to the State government’s Food Security Programme. The Chief Minister who was the chief guest at the 27th foundation day celebrations of the bank here on Friday also asked it to consider interest-free loans for paddy cultivation. He stressed the importance of cooperatives in credit dispensation in rural areas and wanted to know whether the bank could help them. He asked the bank not to stop refinance on technical grounds. He pointed out that NABARD was at present borrowing from the market at high rates, which made it difficult for it to lend at cheaper rates. He wanted the Reserve Bank of India and the Union government to provide funds at low interest to the bank. He also wanted them to contribute more to its share capital. Bhawar Puri, Chief General Manager, NABARD, Kerala, who presided over the meeting, said that during the current year the bank sanctioned Rs.450 crore to the State for implementing 36 drinking water projects in 12 districts under RIDF XIV. It was the highest ever sanction by the bank under the scheme to Kerala. Water Resources Minister N.K. Premachandran felicitated. Sobha Koshy, Post Master General-in-charge, Kerala Circle, released a special philately cover to mark the occasion.
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