CURRENT AFFAIRS

Detailed explanation-1: -Bhubaneswar: The National Bank for Agriculture and Rural Development (Nabard) has projected credit potential under priority sector for the state at Rs 1.60 lakh crore for 2023-24, up from Rs 1.34 lakh crore for the current 2022-23 financial year.

Detailed explanation-2: -The programme has empowered 112.23 lakh Self Help Groups (SHGs) and 13.5 crore rural households in India as on 31 March 2021. Nearly 28.87 lakh SHGs availed credit support of ₹58070 crore from various banks during 2020-21, at an average of ₹2.01 lakh per SHG.

Detailed explanation-3: -Set up with an initial capital of Rs. 100 crore, its’ paid up capital stood at Rs. 17, 080 crore as on 31 March 2022. Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by Government of India.

Detailed explanation-4: -Allocation in Union Budget 2022-23 In 2022-23, the Department of Rural Development has been allocated Rs 1, 35, 944 crore, which is an 11% decrease from the revised estimates of 2021-22. The Department of Land Resources has been allocated Rs 2, 259 crore, which is a 52% increase over the revised estimates of 2021-22.