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Panel moots Rs 500-cr aid for Nabard

Our Bureau

NEW DELHI, Nov. 3

THE expert committee on rural credit (ECRC) headed by Prof V. S. Vyas has suggested that the Central Government extend a Rs 500-crore grant to National Bank for Agriculture and Rural Development (NABARD) to revitalise co-operative lending institutions.

It has also recommended that the State governments be allowed to borrow from the Rural Infrastructure Development Fund at concessional terms to meet their requirement in support for the cooperative institutions as suggested by the Jagdish Capoor Committe e on cooperative credit.

The panel suggested that regional rural banks earnings profits and without any accumulated losses must adhere to a minimum credit-deposit ratio of 60 per cent.