NABARD Approves Rs 1,350-cr Loan to Rajasthan Government

The National Bank of Agriculture and Rural Development (NABARD) has sanctioned a loan assistance of Rs 1,349.55 crore to the Rajasthan government for the creation of rural infrastructure in the state under the Rural Infrastructure Development Fund (RIDF). 

The sanction includes assistance for construction of two rural drinking water supply projects, strengthening/ rehabilitation of 1,614 rural roads and modernisation of three major irrigation projects.
Important Takeaways from Above News-
  • The government of India created the RIDF in NABARD in 1995-96, with an initial corpus of Rs.2,000 crore.
  • NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). 
  • Dr Harsh Kumar Bhanwala is the Chairman of NABARD since 18th December 2013.

Source- Business Standard

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