Vijayawada: NABARD celebrates 42nd Foundation Day

Vijayawada: Governor S Abdul Nazeer, who was the chief guest at the 42nd Foundation Day celebrations of the National Bank for Agriculture and Rural Development (NABARD) here on Tuesday, said that NABARD’s four decades of service to rural India is really a matter of pride and congratulated everyone associated with the organisation on the occasion of its Foundation Day celebrations.

The Governor said that NABARD has come a long way since its establishment in 1982 from an initial investment portfolio of Rs 4,500 crore to a whopping Rs 8.01 lakh crore by the end of 2022-23. MR Gopal, Chief General Manager, NABARD, Andhra Pradesh Region said that NABARD has prepared the State Focus Paper on Andhra Pradesh outlining the total credit potential of the State to the extent of Rs 2.86 lakh crore during the current financial year.

Earlier, the Governor visited the stalls set up by Farmers Producers Organisations (FPOs) supported by NABARD and released booklets brought out by NABARD outlining its support activities extended through credit loans to the agriculture sector and rural development activities in the State.

Principal Secretary Chiranjiv Choudhary, RBI Regional Director AO Basheer, and various stakeholders of NABARD attended the programme.