The National Bank for Agriculture and Rural Development (Nabard), on Tuesday, said it has infused ₹1.46-lakh crore in the rural banking system in the current fiscal.
Nabard has been extending financial support to banks operating in rural areas to help them deploy their resources effectively for meeting the credit needs of rural people, including farmers.
“As on February 28, 2020, ₹87,069 crore has been extended to co-operative banks and regional rural banks in short-term refinance. In addition, long-term refinance of ₹59,502 crore has also been provided to these banks as well as other financial institutions,” said Nabard. The finance institution has extended ₹66,397 crore in short-term credit and ₹6,704 crore long-term credit to rural co-op banks so far in FY20.