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NABARD’s achieved Spectacular Success in Odisha during the year 2016-17/

NABARD, Odisha Regional Office has achieved a record performance in the State during the year 2016-17. The total financial support to the State government, banks, corporations and other agencies like NGOs and Producers Organisations has touched Rs. 14,716 crore during the year registering a spectacular increase of 76% over the achievement of Rs. 8,368 crore during the previous year.

Rural Infrastructure

Over the years, Odisha has been one of the biggest beneficiaries under Rural Infrastructure Development Fund (RIDF) of NABARD, under which loans are extended to the State Govt. for critical rural infrastructure projects in sectors like Irrigation, Roads, Bridges, etc. The total resource support under this fund to State Govt.reached Rs. 2,406 crore during 2016-17. One of the major projects sanctioned during the year is for the establishment of a 5 lakh LPD (Litres per day) Dairy Plant in Cuttack by OMFED with RIDF loan assistance of Rs. 232.13 crore. Besides, loan support of Rs. 415.77 crore has been sanctioned for construction of 277 Roads by Rural Development Department of State Govt. under MukhyaMantriSadakYojana and sanction of 12 Mega liftIrrigation projects in Kalahandi &Nuapada districts involving a loan assistance of Rs.270.17 crore. The cumulative RIDF disbursements in the State as at the end of March 2017 amounted to Rs.12324.71 crore. The RIDF assistance in the State is estimated to bring21.50 lakh Ha.of area under irrigation and construction of road length of about 9649.00 KMand  nearly 1.11 lakh metre length of bridges.

Under the Long Term Irrigation Fund instituted by Govt. of India in NABARD, 6 incomplete major irrigation projects in the state like Lower Indra, Upper Indravati, Rukura, Anandpur barrage, Ret irrigation and Kanupur would be fast-tracked. An amount of Rs. 1230.96 crore has been sanctioned for the purpose,out of which Rs.188.60 crore has been disbursed during the year.

Refinance to Cooperative Banks and RRBs for financing crop loans

NABARD has been providing liquidity support by way of Short Term Refinance to Cooperative Banks and RRBs for meeting the credit needs of farmers for their agricultural operations at subsidised rates of interest. During 2016-17, Refinance for short term loans to the tune of Rs.9155.00 crore was disbursed to the Cooperative Banks.

Refinance to Commercial Banks, Cooperative Banks and RRBs for Long Term Loans

To promote capital formation in Agriculture, NABARD has disbursed Long Term Refinance of Rs.475.59crore to Commercial Banks, Odisha State Cooperative Bank and one MFI during the year. Besides, Rs. 84.79 crore was extended on soft terms to the Odisha State Cooperative Bank under LTRCF (Long Term Rural Credit Fund), a dedicated fund instituted by Govt. of India in NABARD.

Banking Plan

NABARD conducted a number of ground level workshops for bank officials and also prepared a Sectoral Development and Banking Plan for upscaling bank finance under nine identified activities. The latter is o be implemented by banks over a period of three years with total financial outlay of Rs. 5912.23 crore and involving Bank Loan of Rs. 4729.78 crore.

Direct Finance to Odisha State Civil Supplies Corporation for Paddy Procurement

To supplement the efforts of banks in the State for supporting various activities connected to agriculture, NABARD has also started a direct lending window. Under this facility, an amount of Rs. 2124.00 crore was disbursed to the Odisha State Civil Supplies Corporation for its paddy procurement operations, during the year 2016-17.

Direct finance to Odisha State Cooperative Bankfor Paddy Procurement

NABARD also extended Rs. 300 crore to Odisha State Cooperative Bank, for on-lending to Odisha State Civil Supplies Corporation during the year, under its direct lending window.

PACS as Multi Services Centre

During the current year, as a unique model of convergence, NABARD, the State Government and Odisha State Cooperative Bank (OStCB) have envisaged to set up 100 Agro Service Centres (ASCs) in select PACS. These ASCs will increase the level of farm mechanization and ultimately will raise the level of productivity. Under the scheme, each project is having a TFO of Rs 32.00 lakh, of which financial assistance from NABARD will be Rs 19.00 lakh and State Government will provide subsidy of Rs 9.00 lakh. As on 31 March 2017, NABARD has sanctioned Rs 589.00 lakh to Odisha StCB and released the loan component of Rs.542.50 lakh towards setting up of 31 ASCs in 11 districts of the State and the State Government has released subsidy of Rs 279 lakh. It has been decided to implement other 69 ASCs in the month of April 2017.

Financing Watershed Development Projects

NABARD continued to support various developmental and promotional interventions in the state in partnership with NGOs and other developmental institutions. During the year,14Watershed Development Projects were sanctioned for implementation in the State.Cumulatively, a total of 96 watershed projects are under implementation in the State, as at the end of March 2017, with financial assistance of Rs.66.79 crore and benefitting 20,000 families and an area of nearly 50,800 Ha. In collaboration with KFW, NABARD has sanctioned 18 completed/near completed watershed projects for climate proofing in 4 districts.

Financing Tribal Development Projects

Considering the fact that tribal population constitutes nearly 23% of the total population of the State, NABARD has been giving special emphasis on launching projects benefitting the tribal communities. A total of 51tribal development projects are under implementation in the state, as at the end of March 2017, with total financial support of Rs.171.46 crore for plantation activities, soil and moisture conservation works, irrigation development and livelihood support, benefitting more than 44,100 tribal families. Out of these,7 projects are being implemented in convergence mode with Royal Bank of Scotland Trust, Sir Dorabjee Tata Trust (SDTT), CiNi and Juang Development Authority, Government of Odisha, Axis Bank Foundation and DRDA, ITDA, Agriculture Department of Govt. of Odisha.

Promotion of Farmer Producers Organisations (FPOs)

NABARD has promoted and registered 100 FPOs (Farmers Producers Organisations) in the State covering 28 districts with total financial assistance of Rs.9.06 crore to 27 Producer OrganisationPromoting Institutions (POPIs). These FPOs will facilitate marketing of agricultural produce, negotiate remunerative prices through collective bargaining and provide opportunities for value addition and other forward linkages to small and marginal farmer members of these FPOs.

Financial Assistance to Climate Change Projects

A climate change project with sanctioned outlay of Rs. 20 crore under NAFCC (National Adaptation Fund for Climate Change) is under implementation in Nuapada district. The project envisages water management through checking surface run-off. Currently, 02 other projects, one each under NAFCC and GCF (Green Climate Fund), with total financial outlay of Rs.24 crore and Rs.200 crore respectively are under consideration.

Promoting Group mode of financing through SHGs and JLGs

NABARD sustained its efforts in formation of SHGs and JLGs in the State during the year, in partnership with NGOs and banks, so that the marginalized sections of the society, especially in the LWE districts are able to access the financial system. It is estimated that around 30,000 Joint Liability Groups (JLGs) of tenant farmers, oral lessees and agricultural labourers were formed and financed by banks in the State during the year. Around 70,000 SHGs got credit linked to banks in the State facilitating flow of loans to these small income groups.

Financial Inclusion

During the year, NABARD extended financial grant to the tune of Rs.10 crore under Financial Inclusion Fund (FIF) to banks, NGOs and other agencies for propagating financial inclusion andfinancial literacy and stabilization of CBS in Cooperative Banks in the state.

Financial Assistance for Institutional Development of Cooperative Banks and RRBs

As part of NABARD’s mandate to ensure institutional development of RFIs (Rural Financial Institutions), mainly the Cooperatives, NABARD extended financial assistance of Rs.110 lakhunder Cooperative Development Fund (CDF)for infrastructure development as well astraining and capacity building of cooperative personnel during the year. NABARD also monitored the technology adoption and other aspects relating to improvement in financial health of the cooperatives.

Statutory Supervision of Cooperative Banks and RRBs

NABARD conducted statutory inspection of the Odisha State Cooperative Bank, both the Regional Rural Banks (i.e. UGB & OGB) and 7 District Central Cooperative Banks during the year 2016-17.

Model E-shakti Projects in Jagatsinghpur district

Keeping in view the Government of India's “Digital India” mission, NABARD has launched a project for digitisation of all Self Help Groups (SHGs) in Jagatsinghpur district of Odisha. Under the project, about 10,440 SHGs in Jagatsinghpur district have been digitized.With the uploading of transaction data of these groups, the groups will go online.

Issue of Rupay KCC

In the state of Odisha, there are 6811683 KCC accounts which are to be converted to Rupay KCC. Out of these, in coordination with NABARD, 3.24 lakhlive KCCs with RRBs have been issued Rupay KCCs. The KCCs with Cooperative banks are under the process of being converted to Rupay KCC.

Way Forward – Agenda for 2017-18

NABARD has identified certain major focus areas for the upcoming FY 2017-18. These include supporting irrigation facilities in the State by providing financial assistance under special Long Term Irrigation Fund, set up by Govt. of India with a corpus of Rs.20,000 crore, enhancing capital formation in agriculture and devising strategies to augment disbursement of agricultural term loans by the banks, facilitating access of credit to tenant farmers and share croppers, seamless technology in Rural Financial Institutions, digitization of SHGs and Farmer Clubs, risk mitigation measures for the distressed farmers and providing replicable development models, particularly through convergence with other agencies.

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