Comments
The National Bank of Agriculture and Rural Development (Nabard) and the Small Farmers’ Agribusiness Consortium (SFAC) have signed a memorandum of understanding (MoU) to jointly implement schemes for the promotion of farm producer organisations (FPOs).
Under the deal, Nabard will leverage the benefits of the equity grant and credit guarantee fund for FPOs set up by SFAC to ensure that finance for producer companies flows smoothly, an Agriculture Ministry release said.
FPOs are companies consisting of only producers and farmers.
Nabard will also actively collaborate with SFAC at the national, State and district level by participating in the Food Security Mission. The bank said it had a fund of Rs 50 crore for supporting such producer organisations.
The SFAC is implementing a scheme whereby FPOs are given equity support and the financing banks are given credit guarantee cover to enable formation of such organisations.
Nabard would actively collaborate with the SFAC at the national, State and district level by participating in the Food Security Mission. Nabard said it has a fund of Rs 50 crore for supporting producer organisations.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.