The Jammu & Kashmir Department of Agriculture, in conjunction with NABARD, held a one-day ‘Awareness Programme for Bankers and Other Stakeholders’ on financing and bank credit to farmers’ producer organisations (FPOs) on Monday at Kisan Ghar Talab Tillo in Jammu.
Atal Dulloo, Additional Chief Secretary (ACS), Agriculture Production Department, was the chief guest for the occasion. Anamika, NABARD’s Deputy General Manager, presented a detailed presentation about FPO and its status in Jammu & Kashmir, as well as other pertinent topics and challenges.
The ACS stated that a uniform policy will be developed, to sensitive banks about financing FPOs. It will be approved by JKUT, and adopted by all banks, which will include the process of opening an account, compliance of FPOs, documentation, credit guarantee process, scale of finance, and so on, in accordance with NABARD, GoI guidelines.
The ACS also requested that credit be expanded and made available to all FPOs in a timely and hassle-free manner to all pertinent authorities and stakeholders. He also requested that they speed the paperwork process and other associated concerns in accordance with the standards. He advised local banks to increase their efforts in understanding and implementing FPO rules so that the majority of FPOs can approach local banks for financing and benefit from various components of the central sector scheme (CSS) for FPOs.
Briefs on requirements and challenges
NABKISAN Senior Assistant Vice-President Mahmood Hussain provided an update on their FPO financing efforts and the method for obtaining credit guarantees from NABSanrakshan. Representatives from several banks and other stakeholders also briefed on the requirements for creating FPO accounts and financing FPOs, as well as the challenges that banks experience when financing FPOs. The department’s FPO initiatives were briefed and highlighted by the director of agriculture.
Members of FPOs also discussed challenges they encountered while financing FPOs. Jammu APD Director K K Sharma, Jammu Horticulture Director Ram Sevak, Jammu CAD R S Tara, Agro Director Arun Manhas, representatives of banks, stakeholders, and members of FPOs were also present.
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