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On October 1, 2020, National Bank for Agriculture and Rural Development (NABARD) launched a new refinance scheme to assist the Water, Sanitisation and Hygiene (WASH) programme. This scheme is mainly launched to maintain a good lifestyle in the rural areas. Under this scheme NABARD will provide refinance facilities to the financial institutions for WASH activities in rural areas. Total budget of Rs. 800 Cr. is assigned for the current financial year 2020-21. This scheme will also promote the Swachh Barat Mission.
Scheme Overview:
| Scheme: | Refinance scheme for WASH programme |
| Launched by: | National Bank for Agriculture and Rural Development (NABARD) |
| Launch Date: | October 1, 2020 |
| Beneficiaries: | Rural areas in the country |
| Benefit: | Development of the sanitation sector in rural areas thereby increasing the level of rural living |
| Major Objective: | To promote and maintain a good lifestyle in rural areas |
Scheme Objectives and Benefits:
- The main objective of the scheme is to promote good lifestyle in the rural areas of the country
- Under this scheme NABARD will provide concessional funds to the financial institutions like commercial banks, RRBs, co-operative banks.
- Under this scheme such funds will be used for WASH activities
- Activities like construction, repairing, enlarging of toilets, domestic water pump, rainwater harvesting etc will be conducted for overall development of the rural living
- This scheme will promote Swachh Bharat Mission
- It will encourage and boost the commercial activities in the sanitation sector in rural areas
- This scheme thus aims at boosting a good, healthy and hygienic lifestyle in the rural areas
Scheme Details:
- National Bank for Agriculture and Rural Development (NABARD) launched a refinance scheme for Water, Sanitation and Hygiene (WASH) in rural areas
- This scheme was launched on October 1, 2020
- The funds/ finance for WASH activities will be provided by NABARD at concessional rates
- Financial institutions including commercial banks, regional rural banks and co-operative banks will get the funds from NABARD at concessional rates and with a repayment period of 36 months
- Bank credit or finance will also be provided to the Non-Banking Financial Companies – Microfinance Institutions (NBFCs-MFIs) and other MFIs like societies, trusts, etc.
- The main aim of this scheme is to provide finance and credit flow to the rural sector
- The sanitation sector of the rural areas is financed and improved for providing WASH activities
- WASH activities include construction, repairing, enlarging the toilets or converting an existing toilet to a family toilet, domestic water motor pump, borewell/ tube well, sumps, rainwater harvesting, water purifier pumps, waste water systems, etc.
- This will develop the standard of living of the rural areas
- Sustainable and healthy lifestyle will be promoted even in the crucial times of this pandemic.
- This scheme will boost the Swachh Bharat Mission
- Commercial activities by small and medium enterprises as well as SHGs in the sanitisation sector will increase
- Information of this scheme was provided by Chairman of NABARD, G R Chintala
- Total budget assigned for the scheme is Rs. 800 crores for current financial year 2020-21.
