Nabard sanctions Rs 10 crore for financial inclusion in Andhra Pradesh

Shaukat Mohammed | TNN | Apr 13, 2020, 20:34 IST

S Selvaraj, chief general manager, AP regional office of Nabard

VIJAYAWADA: The National Bank for Agriculture and Rural Development (Nabard) said on Monday it sanctioned Rs 10.33 crore to Andhra Pradesh under its Financial Inclusion Fund (FIF) 2019-20.
“During 2019-20, Nabard thrust gave more thrust on backward districts which are termed as special focus districts. A Rs 10.33 crore grant was sanctioned Rs 6.43 crore was released to commercial banks, regional rural banks and cooperative banks in respect of various financial inclusion initiatives in Andhra Pradesh,” a press release from S Selvaraj, chief general manager, AP regional office of Nabard, said.
Selvaraj said that Nabard had disbursed Rs 3.03 crore to support financial and digital literacy camps conducted by commercial and other banks to improve financial literacy in the backward districts. The bank had provided Rs 52.98 lakh to conduct street plays in Telugu to spread financial literacy in an interactive manner.
Selvaraj said that the development bank had given a grant assistance of Rs 1.51 crore to rural cooperative banks for the deployment of 11 mobile demonstration vans with the objective of spreading financial literacy and the demonstration of various digital banking technologies for the rural poor. Nabard had also extended a grant support of Rs 22.5 lakh to regional rural banks for the establishment of 30 Aadhar-enabled centres by these banks.