Mumbai (PTI): National Bank for Agriculture and Rural Development (NABARD)on Thursday said that despite some slow down in recovery, it was hopeful of achieving the budgetary target of Rs 2,80,000—crore farm loan for 2008—09.
"Our target for the current fiscal is Rs 2,80,000—crore. We have achieved estimated Rs 1,96,000—crore (till December 31), and we are hopeful of meeting this target," NABARD's Managing Director, K G Karmakar, told reporters on the sidelines of a function here.
He said, the slow down in the recovery is due to the debt waiver sceheme.
"We are expecting some recovery from the banks", he said.
In the previous fiscal, Nabard refinanced farm loan worth Rs 2,41,000 crore, exceeding the target of Rs 2,25,000 crore, Karmakar said.
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