In midst of COVID-19 Pandemic, NABARD had stepped into its 39th year of existence on Sunday
Chandigarh / New Super Bharat News
In midst of COVID-19 Pandemic, NABARD had stepped into its 39th year of existence on Sunday. On the occasion, Shri. J.P.S. Bindra, Chief General Manager NABARD, Punjab Regional Office, Chandigarh, expressed that the institution has truly stood tall and has been able to deliver to its mandate of “Securing Rural Prosperity” by purveying credit support as well as developmental support (SHGs, JLGs, FPOs etc.) to the rural community of the state.
Shri. Bindra highlighted the special measures and initiatives undertaken by NABARD for providing relief and succour to the farming and agrarian community during the COVID-19 lockdown, which included Short Term Liquidity to the banks, Special Liquidity Facility (SLF) credit support worth ₹1000 crore to the Punjab State Coop. Bank Ltd, ₹500 crore to Punjab Gramin Bank and ₹ 40 crore to NBFC-mFI, to meet farmers immediate needs. Credit support of ₹120crore to Milkfed was also given which has helped the farmers of dairy sector in getting timely sale proceed. NABARD also played an advisory role to the State Government to effectively tackle the challenges of procurement of wheat and other agricultural commodities and issues related to providing income support measures to the migrant labourers posed by the pandemic.
To mark the occasion of the 39th Foundation Day, while rededicating to the cause of Rural Prosperity, NABARD, Punjab RO had sanctioned grant assistance worth ₹ 84.57 lakh in Punjab for infrastructure development of PACS, enabling them to function as Multi Service Centre and provide value added services to member farmers; enabling Cooperative and Regional Rural Banks to provide financial transactions in digital mode, skill and micro entrepreneurship development; promotion of Farm Producers’ Organisation (FPOs) Organic Farming etc. Further, a grant assistance worth ₹11.23 Cr has been sanctioned and released to Department of Agriculture, Govt. of Punjab as part of ongoing Climate Change project funded by NAFCC for Crop Residue Management Operations aiming at diversification of paddy cultivation to maize growing clusters.
The Punjab RO commemorated the day on Tuesday by online inauguration of Phulkari cluster at Sangrur and Rural Mart at Fatehgarh Sahib to provide marketing linkage to rural artisans. It was followed by a web based discussion with a spectrum of the stakeholders wherein the stakeholders shared their success stories on issues related to sustainable agriculture, skill and livelihood development and scope for the improvement in agricultural marketing supply chain management.
Shri. Bindra also took this opportunity to place on record the “Developmental Partnership” that NABARD has developed with the State Government and the banking sector which has benefitted all the stakeholders particularly the rural and agriculture sector in this great journey of “Rural and Agrarian Prosperity” and also reiterated the firm belief that NABARD will keep the flame of “Commitment to Rural Prosperity” burning without fail for all times to come.
