Business Daily from THE HINDU group of publications
Tuesday, Oct 07, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Oct 07, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Agri-Biz & Commodities
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Agricultural Institutions Industry & Economy - Rural Development States - Andhra Pradesh Nabard mulls micro cover for rural poor Our Correspondent Madurai, Oct 6 A comprehensive micro insurance product for the rural poor is being worked out, according to Mr K.G. Karmakar, Managing Director, National Bank for Agriculture and Rural Development (Nabard). A study conducted in 2003 had revealed that none of the poorest households had any insurance policy. Existing agencies, according to the law, are not permitted to come out with life and non-life products. Comprehensive insurance products that cover life, health, crops, assets and accidents are the need of the hour and Nabard has taken an initiative to have a simple and affordable insurance product for the rural poor and these could be subsidised for members of self-help groups, Mr Karmakar said, while addressing the 12th Foundation Day celebration of DHAN Foundation, held here recently. Speaking further, he said that a large section of the rural society needed to be covered under financial inclusion. This should precede the extension of credit linkage for effective implementation of programmes for alleviation of rural poverty. Unorganised sectionsThe unorganised sections, weaker sections and tribals have long remained outside the purview. Systemic neglect of the poor is resulting in naxalite problems. The National Rural Employment Guarantee Scheme, though good, needs proper implementation, he added. Addressing the newspersons earlier, he said that the micro insurance product should be community based and could be introduced through the post offices or rural banking network. More Stories on : Agricultural Institutions | Rural Development | Andhra Pradesh
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