News

NABARD Sanctions ₹5,830 Crore Assistance to Jharkhand in FY25 for Strengthening Rural Infrastructure Development.

Banking & Finance | Dated: 07 Apr 2025

In April 2025, the National Bank for Agriculture and Rural Development (NABARD), headquartered in Mumbai, Maharashtra, announced that it had extended ₹5,830 crore as financial assistance to Jharkhand for the Financial Year 2024–25 (FY25), which concluded on April 1, 2025. This support aims to strengthen rural infrastructure across the state.

🎯 Key Highlights:

- This assistance has played a vital role in augmenting rural infrastructure development, livelihood opportunities, institutional strengthening, and the promotion of financial inclusion in Jharkhand.

💡 Other Important Facts:

(i) The financial support covered areas such as irrigation, rural development, financial inclusion, and tribal empowerment, benefiting over 2 lakh farmers and 50,000 rural families.
(ii) A significant share of the assistance, amounting to ₹2,143 crore, was availed by Ranchi-based institutions—Jharkhand Rajya Gramin Bank and Jharkhand State Cooperative Bank Limited.
(iii) ₹1,988 crore was extended under the Rural Infrastructure Development Fund (RIDF) for implementing critical infrastructure projects in rural areas of the state.

📚 Test Your Knowledge:

Recently, how much financial assistance did NABARD extend to Jharkhand for FY 2024–25?

Correct Answer: ₹5,830 crore

🚀 Quick Recap:

About NABARD

Chairman: Shaji K.V.
Headquarter : Mumbai