Categories: Banking

NABARD sanctions Rs 400.64 Cr to boost infrastructure in J&K

National Bank for Agriculture and Rural Development (NABARD) has sanctioned 400.64 crore rupees to the Union Territory of Jammu and Kashmir. This sanction is for giving a boost to the infrastructure in the rural areas of J&K.

An amount of 143.66 crore rupees has been sanctioned for implementation of 38 water supply schemes. The sanction includes augmentation of 27 existing water supply schemes and construction of 11 new water supply schemes. These water supply schemes are aimed at providing safe and potable drinking water to rural households.

The schemes will benefit over 3.5 lakh people across 86 villages in 17 districts. An amount of 47.11 crore rupees has been sanctioned towards improving the Animal and Sheep Husbandry sectors. It includes the construction of Cattle Breeding Farm at Chatha Jammu.

NABARD has also sanctioned 209.87 crore rupees for construction of 82 rural roads and 3 bridges earlier this year. The construction of roads and bridges would provide all-weather improved connectivity to 461 remote villages. The funding is a part of the NABARD’s Rural Infrastructure Development Fund (RIDF) which is aimed at augmenting rural infrastructure.

Important takeaways for all competitive exams:

Chairman of NABARD: Harsh Kumar Bhanwala.
Headquarters of NABARD: Mumbai.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.