NABARD release interest sub-vented loan from Micro-Irrigation Fund

NABARD has so far released a total amount of Rs. 1754.60 crore Interest Sub-vented Loan from Micro-Irrigation Fund (MIF).

Daily Current Affairs Quiz 2020

Key-Points

Micro Irrigation Fund with a corpus of Rs. 5000 crore created with NABARD was operationalised in 2019-20.

The objective of the Fund is to facilitate the States in availing an interest sub-vented loan for expanding coverage of Micro Irrigation by taking up projects and also for incentivising micro irrigation beyond the provisions available under PMKSY-Per Drop More Crop to encourage farmers to install micro irrigation systems.