New Delhi: The National Bank for Agriculture and Rural Development (NABARD) announced on Friday that it has extended a record Rs 5,830 crore in assistance to Jharkhand during the just concluded fiscal year, aimed at boosting rural infrastructure across the state.
This financial support has significantly accelerated rural development initiatives, enhancing livelihoods, strengthening institutions, and promoting financial inclusion, according to a statement from NABARD. The apex rural development financial institution highlighted the success of this initiative in promoting sustainable rural growth.
Key Initiatives:
NABARD’s support has included active engagement with the off-farm sector through the promotion of rural artisan collectives, skill development programs, and enhancing market accessibility for rural products. Notably, efforts are underway to secure Geographical Indication (GI) tags for traditional products from Jharkhand, including Kuchai and Bhagaiya silk, Athe Mutton of Deoghar, Sweet Tamarind of Simdega, and Biru Gamchha.
Additionally, NABARD has spearheaded 8,963 financial and digital literacy camps across the state, aimed at deepening the penetration of formal financial systems and digital tools in rural areas.
Consultancy and Future Focus:
NABARD’s consultancy arm, NABCONS, has provided expert services in agriculture, irrigation, banking, and allied sectors throughout 2024-25, playing a pivotal role in project planning and execution.
Looking ahead, NABARD’s focus for the 2025-26 fiscal year will remain on financial inclusion, improving credit access for tenant farmers, strengthening rural financial institutions, and supporting the growth of rural MSMEs.
This support underscores NABARD’s continued commitment to rural development and financial inclusion in one of India’s most economically diverse states.
