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Nabard sets up regional office for Telengana

Nabard has opened a regional office in Telangana. The office started functioning as a separate entity in the existing premises of the bank with V.V. Satyanarayana as the CGM. Satyanarayana said the new regional office will focus development of the state. He said further financial assistance will be be extended to the Mission Kakatiya, the flagship program of Telangana government for restoration of tanks and water bodies under the Rural Infrastructure Development Finance Scheme. The bank had already sanctioned ₹360 crore for the project. Other priorities in the state include digitization of SHGs’ transactions. A pilot project would be launched in Medak in this regard, he added. The agricultural credit is further likely to be streamlined. The Andhra Pradesh State Cooperative Bank Ltd has been reconstituted into two banks and the Telangana State Cooperative Apex Bank has started functioning with 35 branches in the twin cities of Hyderabad and Secunderabad.

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