Date:18/08/2004 URL: http://www.thehindubusinessline.com/2004/08/18/stories/2004081800671900.htm

Back Nabard funds for two RRBs in Kerala

Our Bureau

THIRUVANANTHAPURAM: The National Bank for Agriculture and Rural Development (Nabard) has sanctioned short-term reference assistance of Rs 351.37 crore for 2004-05 to the two regional rural banks (RRBs) operating in the State.

Announcing this, an official spokesman said here that the South Malabar Gramin Bank would get Rs 226.37 crore and the North Malabar Gramin Bank , Rs 125 crore. The assistance is meant for supporting the RRBs' lending towards crop loans to the extent of Rs 260.35 crore, and Rs 91.20 crore in working capital requirements for production and marketing activities of rural artisans, villages and cottage industries as well as for financing of weaker sections.

In addition to refinance assistance for short-term loans, Nabard also provides refinance for investment credit (term loans) granted by the RRBs, the spokesman added.