Samba: National Bank for Agriculture and Rural Development (NABARD) organised a credit camp in Samba district to provide collateral free institutional credit support to Joint Liability Groups (JLGs) promoted by NABARD including landless farmers, share croppers, oral lessees, small & marginal farmers and other rural poor to take up farm, off-farm and non-farm activities.
Deputy General Manager, NABARD Jammu, Anamika was the chief guest on the occasion.
Shalesh Sharma, District Development Manager, Samba and JKGB Branch Manager, Mandi Sangwali, Pankaj Bandral participated in the programme.
Over 60 members from various JLGs promoted by NABARD participated in the credit camp.
The DGM, while speaking on the occasion, informed that the formation of JLGs was started by NABARD with the objective to augment the credit flow to farmers, especially landless farmers, share croppers, oral lessees, small & marginal farmers and other rural poor to take up livelihood activities for their income generation.
The JLGs helps to provide hassle free credit to these targeted groups without any collateral requirement and also minimizing the risk of loan default to the banks as it provides mutual guarantee of borrowers along with peer pressure of members of the JLG. She also informed about the support provided by NABARD in the form of grant to the promoting agencies for formation and nurturing of JLGs. The JLG members were exhorted to utilize the loan for the purpose it is being availed and repay the same in time.
The DGM acknowledged the support extended by the banks in credit linkage of JLGs and also appreciated their efforts in fulfilling the credit needs of rural people. Banks were encouraged for continued support to rural people as it would not only uplift these people but would also boost rural economy.
Later, the DGM distributed cheques amounting to Rs.22 lakh among 44 members of various JLGs promoted by NABARD in district Samba.
During the year, when everyone is affected by Covid-19 and facing the hardest time to earn their livelihood, NABARD has been able to provide credit support to 308 members of various Joint Liability Groups amounting to Rs.1.48 crore in Samba district.
Some of the JLG members who availed credit during the year and started their livelihood activities also shared their experiences and expressed their gratitude for NABARD and banks.