Latest News | Punjab Seeks Rs 1,000 Cr from NABARD for Cooperative Institutions

Chandigarh, Nov 11 (PTI) The Punjab government on Wednesday sought Rs 1,000 crore from NABARD for cooperative institutions in the state.

Cooperation Minister Sukhjinder Singh Randhawa made this demand during a meeting with National Bank for Agriculture and Rural Development (NABARD) Chairman G R Chintala in Mumbai, according to a government release here.

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The assistance was sought under the Special Liquidity Facility (SLF) and Long Term Rural Credit Fund (LTRCF) for Punjab Agricultural Development Bank (PADB).

The minister apprised NABARD Chairman of the financial constraints faced by PADB.

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A strong case was made out in favour of giving SLF and providing 100 per cent refinance under LTRCF to PADB through a presentation, the release said.

After detailed discussions, Chintala assured to provide maximum support under SLF and 100 per cent refinance under the LTRCF to PADB, as per the release.

Randhawa also took up the matter pertaining to loans for setting up cooperative sugar mills in Batala and Gurdaspur. Chintala asked the minister to send detailed proposals for the same, it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)