A good monsoon season has brought heavy credit offtake for the National Bank For Agriculture and Rural Development (Nabard). The agriculture lender has experienced a two fold increase in its loan book and is targetting to achieve a total disbursal of Rs 40,000 crore by the end of this fiscal, said a top official.

"This year, credit growth has been very healthy because of the good monsoons and we have already witnessed refinance disbursements doubling to Rs 10,000-crore as against Rs 5,000-crore last year," Nabard's Chairman U C Sarangi said.

Of the total target of Rs 40,000 crore, the bank expects to lend Rs 26,000 crore as short term loans and over Rs 13000 crore as long term credit, said Sarangi.

The last fiscal saw a total credit offtake of Rs 34,000 for the bank, said Sarangi.

He added that the bank has till now not borrowed any money and is doing all funding from its internal accruals.