“The Nabard has stopped giving financial assistances to the CARD banks for non-recovery of loans since 2006. As a result, the CARD banks have been unable to give loans to the beneficiaries. In such a situation, the State Government has no plan to open new CARD banks,” said Cooperative Minister Damodar Rout in a written reply. According to the information, CARD banks in Boudh, Nayagarh, Nabarangpur and Malkangiri have been liquidated after suffering losses continuously. Now there are 45 such banks working across 26 districts in the State. The number has come down from 57 which were operating across 13 undivided districts earlier, the Minister said.
