NABARD glad to be part of Telangana’s growth story: CGM

NABARD Telangana CGM Y Krishna Rao participating in Karimnagar DCCB board meeting held in Karimnagar on Tuesday.

Karimnagar: The National Bank for Agriculture and Rural Development (NABARD) is glad to be part of the growth story of Telangana State and its transformation into ‘Bangaru Telangana’ (Golden State), the bank’s Telangana region office Chief General Manager Y Krishna Rao said on Tuesday.

Citing the success of white, blue, pink and green revolutions in Telangana State, the NABARD CGM said: “We are happy to be part of all the four revolutions and are committed to the growth of the newly-formed State. We will continue to support the State government in future too.”

Krishna Rao was in Karimnagar town to participate in the Karimnagar District Cooperative Central Bank (DCCB) board meeting which was attended by TSCAB chairman Konduru Ravinder Rao and CEO N Satyanarayana Rao and others.

He said NABARD had extended financial assistance to the tune of Rs 10,000 crore for the revolutionary scheme of providing protected drinking water to the people of the state under Mission Bhagiratha scheme.

Terming the Kaleshwaram Lift Irrigation Scheme (KLIS) as an engineering marvel, he said they had extended financial assistance of Rs 5,600 crore including Rs 4,600 crore for Komuravelli Mallannasagar project. He said that they had sanctioned Rs 800 crore to the Markfed for the procurement of maize.

More recently, the NABARD had decided to extend financial assistance to the tune of Rs 1,100 crore under RIDF programme for the construction of  500 to 600 check dams to tap each and every drop of water and recharge the groundwater table.

Stating that the Karimnagar DCCB was the best in the country in terms of all parameters, he said that the people’s money is safe in the Karimnagar DCCB because of its accelerated performance and providing better services to its customers than any commercial bank.

He hoped that the Karimnagar DCCB, which was doing around Rs 5,000 crore business, would cross Rs 10,000 crore business in the coming three years period.

He said that the Karimnagar DCCB had also emerged as the only cooperative bank in the country to secure a cyber security operations centre (C-SOC).

Telangana state was ahead in the country with the formation of 330 Farmer Producer Organizations (FPO) and the Indervelli FPO in Adilabad district with tribal farmers had emerged role model for the country with the setting up of a ginning mill at a cost of Rs 6 crore with the loan from TSCAB and DCCB, he stated.

Stating that the total computerisation of all the 800 Primary Agriculture Cooperative Societies (PACS) in the Telangana state had ensured transparency and reinforced faith among the customers, he said that Telangana State Cooperative Apex Bank (TSCAB) was also doing well on all parameters.

Presently, they are on a mission mode to convert PACS into MACS (multiservice providers) with the support of NABARD and lower interest rate.

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