To mitigate the lot of Punjab farmers and the cooperative institutions which are facing financial crunch due to COVID-19, Punjab Government on Wednesday sought Rs 1,000 crore from the National Bank for Agriculture and Rural Development (NABARD) for giving fillip to the such institutions in the State.
“During the meeting with NABARD chairman Govinda Rajulu Chintala in Mumbai, the assistance was sought under Special Liquidity Facility (SLF) and Long Term Rural Credit Fund (LTRCF) to Punjab Agricultural Development Bank,” said Punjab Cooperation Minister Sukhjinder Singh Randhawa.
Randhawa said that he apprised NABARD chairman about the financial constraints faced by the Primary Agricultural Development Banks (PADBs). “A strong case made out in favour of giving SLF and to provide 100 percent refinance under LTRCF to Punjab SADB through a presentation.
NABARD chairman, after detailed discussions, assured to provide maximum help under SLF and 100 percent refinance under LTRCF to Punjab SADB. He also agreed that other proposals of the Bank relating to revival of financially-stressed PADBs will also be considered with the positive bent of mind.
The Cooperation Minister also took up the matter requesting loans for setting up of Cooperative Sugar Mills in Batala and Gurdaspur, on which NABARD chairman asked the Minister to send a detailed proposal for the same.