NABARD released ₹20,500 crore to co-operative banks, RRBs

National Bank for Agriculture and Rural Development (Nabard) has disbursed Rs 20,500 crore to cooperative banks and regional rural banks (RRBs) for on-lending to farmers.

Of the total, Rs.15,200 crore has been released to cooperative banks and Rs.5,300 crore to RRBs as special liquidity facilities in various states.

The funds to the co-operative banks and RRBs aims to ensure the availability of liquidity with the Banks to finance farmers for taking up pre-monsoon and Kharif 2020 operations.

Also, the banks have initiated a programme for Kisan credit cards and around 12 lakh new KCC cards have been issued by co-operative banks and RRBs in April 2020.