Business EconomPosted at: Aug 10 2021 3:56PM NABARD signs MoU with SBI, J&K Grameen Bank for JLG financing
Jammu, Aug 10 (UNI) To finance 1000 Joint Liability Groups through State Bank of India and Jammu and Kashmir Grameen Bank-- NABARD on Tuesday has signed Memorandum of Understanding with State Bank of India and Jammu and Kashmir Gramin Bank in the Union Territory of Jammu and Kashmir and the Union Territory of Ladakh.
Deputy General Manager, NABARD, Ms Anamika said that MoUs on JLG financing were signed and exchanged between NABARD, J&K RO and State Bank of India and Jammu and Kashmir Gramin Bank (JKGB).
Surender Singh, General Manager (NABARD), Ajitav Parashar, Deputy General Manager and Sudhir Gupta, Chairman, J&K Grameen Bank, represented NABARD, SBI and JKGB, respectively.
She said that the main objective of the signing of MoU is to enhance the flow of credit to tenant farmers, oral lessees, sharecroppers, SF/MF etc, who at times may not have proper title to their land holding.
The JLG formation will meet the credit requirements of people suffering reverse migration in the wake of COVID 19 pandemic, she said.
The DGM further added that the issue of formation of JLGs is also being discussed in every meeting of UTLBC and the formation and credit linkage of 1000 JLGs will benefit almost 5000 households in the UT of J&K.
The MoU signing ceremony was presided over by Dr A K Sood, CGM , NABARD and attended by Ms Anamika , DGM, NABARD, Sanjeev Mahajan, AGM, SBI and Makhan Singh, Senior Manager, JKGB.
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