At Mahindra Finance, we believe in doing more than just providing customers with the best products and services. Part of this involves giving you the latest news and trends from in and around the industry. The 'Knowledge Bank' will provide you with information and details on a variety of topics that include not just finance, but technology and upcoming trends as well. Most of the information will keep you updated with all the developments and changes in the rural and semi-urban market. Essentially, this section is a repository of knowledge intended to update you with all the latest happenings in fields that matter to you. Below, you will find articles, news, data, analysis reports or just basic information relating to finance and more. We are sure the information you find here will help you know more about the industry.
POLITICS AND POLICIES
Govt disburses Rs. 1.36 lakh cr as farm credit
The Government has disbursed about Rs. 1.36 lakh crore of agriculture credit to farmers
in the first quarter of the current financial year. "The target of credit flow for the year
2012-13 has been fixed at Rs. 5.75 lakh crore and achievement as on June 30, 2012 is Rs.
1,35,956.49 crore," according to the background note prepared for the Economic Editors
conference. The target of credit flow for the year 2011-12 has been fixed at Rs 4.75 lakh
crore and achievement as on March 31, 2012 is Rs. 5,11,029.09 crore, forming more than
108 per cent of the target.
NABARD sanctions Rs. 264.68 Crore Loan to State for Rural Development
Construction of rural roads and bridges will get a big boost in different districts with the National Bank for Agriculture
and Rural Development (NABARD) sanctioning Rs 236.18 crore as loan assistance to Karnataka Government. Nabard
has sanctioned funds to the State Government under its Rural Infrastructure Development Fund (RIDF - XVIII) at its
Project Sanctioning Committee. With this loan, the cumulative sanction to the State under RIDF XVIII stood at Rs
264.68 crore. Implementation of 189 road projects with a total length of 728.59 km and 42 rural bridge projects with
a length of 910.57 meters are expected to benefit 23.17 lakh rural populations in 30 districts. The projects would
provide connectivity to 1,049 villages and generate non-recurring employment to the tune of 54.93 lakh man-days.
The construction of 82 minor irrigation structures are expected to enhance irrigation potential to the extent of 5852
hectares, the press release said.
Demand for tractors to touch 8.6 lakh units by 2015:
Domestic demand for tractors may touch 8.6 lakh units by 2015, thanks to increased
money supply in the rural system which in turn has increased farmer's liquidity, a study
has said. At present, the demand for tractors is about 5 lakh units in the country,
Assocham said in the study. There is an increasing application of tractors for non-farm
operations like infrastructure and construction projects, transportation, haulage and
better crop realization through higher minimum support prices (MSPs) have driven the
demand for tractors. The study said among the regions which witnessed high sales of
tractors, North India has the highest percentage of 55 per cent, followed by western
states 24 per cent, southern states 15 per cent and Eastern India about six per cent. It
also said easy tractor loans by commercial banks together with an innovative credit
delivery system like Kisan Credit Card have led to the growth of this industry.
Agriculture: 1 million farmers to get tips by phone
Agriculture Department officials said that by March the government planned to register one
million farmers in the programme. The farmers will be trained to use modern technology to
increase production, they said. Moreover, farmers will also be able to ask for solutions to
specific problems by sending questions via their mobile phones. They said that farmers would
have to provide their CNIC numbers, mobile numbers and details related to their agriculture
land and crop for registration. The details will be sent to a communication technology centre
set up at the office of the agriculture director general. The centre will communicate with the
farmers. The Agriculture Department (Faisalabad extension) has been given a target of
registering 20,000 farmers for the programme. A registration cell has been set up under the
supervision of District Officer Chaudhry Abdul Hameed.
The DO said that the department hoped the programme would improve the farmers’
knowledge of crops and production.
- Hindu Business Line
- Economic Times
- Daiji World