Credit support worth Rs. 1.48 Cr distributed among 308 members of JLGs in district
SAMBA: NABARD on 18th March 2021 organized a credit camp here for members of Joint Liability Groups (JLGs) to provide collateral free institutional credit support to landless farmers, sharecroppers, oral lessees, small & marginal farmers and other rural poor to take up farm, off-farm and non-farm activities.
Deputy General Manager (DGM), NABARD, Jammu, Anamika was the chief guest on the occasion while as District Development Manager, Samba, Shalesh Sharma and JKGB Branch Manager, Mandi Sangwali, Pankaj Bandral also participated in the programme.
More than 60 members from various JLGs promoted by NABARD participated in the credit camp.
DGM, NABARD 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, sharecroppers, oral lessees, small & marginal farmers and other rural poor to take up livelihood activities for their income generation.
She added that JLGs help 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 promoting agencies for formation and nurturing of JLGs. The DGM exhorted upon the JLG members to utilize the loan for the purpose it is being availed and repay the same in time.
DGM, NABARD 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. She asked the Bank representatives to continue support to rural people as it would not only uplift these people but would also boost rural economy.
On the occasion, DGM distributed cheques amounting to Rs.22 lakh to 44 members of various JLGs promoted by NABARD.
Pertinent to mention, during the tough times of COVID-19, 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. Most of the JLG members who availed credit during the year have started their livelihood activities also shared their experiences during the programme and expressed their gratitude for NABARD and banks for their support.