New Delhi: National Bank for Agriculture and Rural Development (NABARD) has reported that it extends refinance to banks and provides loan assistance to the State Governments for promotion and development of agriculture and other rural activities.
State-wise financial assistance provided by NABARD to State Governments during the last three years under various Funds i.e. Rural Infrastructure Development Fund (RIDF), Long Term Irrigation Fund (LTIF), Warehouse Infrastructure Fund (WIF) and NABARD Infrastructure Development Assistance (NIDA) are given at Annexure I to IV.
Besides the above, NABARD has disbursed Rs.11.34 crore and Rs.11.33 crore under Food Processing Fund (FPF) during 2017-18 and 2018-19 respectively to the State of Kerala.
The monitoring mechanism for the above mentioned Funds as reported by NABARD are as under:
RIDF and LTIF: A High Power Committee (HPC) at the State level under the Chairpersonship of Chief Secretary / Additional Chief Secretary including representatives of implementing department as well as NABARD, monitors the progress in implementation, in respect of the projects under RIDF and LTIF.
WIF: A High Power Committee (HPC) constituted by the respective State Governments monitors the progress in implementation of the projects under WIF. NABARD monitors these projects by exception.
FPF: Monitoring of Food Processing Fund projects is done by the Inter Ministerial Approval Committee (IMAC) set up in the Ministry of Food Processing Industries (MoFPI), Govt. of India.
NIDA: NABARD monitors the loans sanctioned under NIDA through an internal monitoring mechanism.
This was stated by the Union Minister of Finance and Corporate Affairs Nirmala Sitharaman in a written reply to a question in Lok Sabha.