Disbursements by commercial banks under the Integrated Rural Development Programme (IRDP) and Prime Minister's Rojgar Yojna (PMRY) were restricted to an allocation of Rs 9 crore. With the relaxation, they can now avail of refinance from NABARD. Refinance will also be available to commercial banks under the Automatic Refinance Facility (ARF) for farm sector and farm mechanisation, besides the existing eligible activities under farm and non- farm sectors. The refinance under ARF has been enhanced from 50 to 70 per cent.

A release issued by Manmohan Sen, Assistant General Manager, Nagpur District Development, NABARD, said the bank has identified the thrust areas of activities and stepped up the existing rates of refinance for disbursements for activities like minor irrigation, wasteland and drylanddevelopment. For minor irrigation activities, the commercial banks, the state cooperative bank and regional rural development banks will get 90 per cent of refinance and state agricultural and rural development bank will get 95 per cent of refinance.

The disbursement for promotion and development of wasteland and dryland agriculture in the state will now be eligible for 100 per cent refinance.

The NABARD has also enhanced the ceiling for availing refinance under ARF and composite loan scheme. Under the ARF, farm and non-farm sectors the ceiling has been raised from Rs 10 to Rs 15 lakh while under the composite scheme it has been increased from Rs 50,000 to Rs 2 lakh under non-farm sector.