Dulloo to Eliminate Funding Bottlenecks, Bank Credit to FPO – Tourism Jammu Kashmir

Excelsior Correspondent

Jammu, May 1: Ministry of Agriculture, Jammu, in collaboration with NABARD, today at Kisan Ghar Talab Tillo, Jammu, issued a “For Bankers and Other Stakeholders” on Financing/Banking to Farmer Organizations. Awareness raising program was held.
Deputy Chief Secretary (ACS), Agricultural Production Department, Mr. Atal Dulloo was present as the guest of honor.
DGM NABARD, Anamika gave a detailed presentation on the FPO and its situation in Jammu and Kashmir, among other related issues and challenges.
While detailing the bank’s awareness program on lending to Farm Producer Organizations (FPO), ACS will guide the account opening process, NABARD, GoI guidelines to be endorsed by JKUT and adopted by all banks. According to FPO, documents, credit guarantee process, financial scale, etc.
ACS also called on relevant authorities and stakeholders to bolster credit in a hassle-free manner and extend it to all FPOs. He also asked us to expedite the documentation process in addition to related issues according to the guidelines.
He called on local banks to do more to understand the FPO guidelines and their implementation. This allows the majority of FPOs to approach local banks to avail loans and benefit from the various components of FPO’s CSS.
Mr. Mahmood Hussain, Senior Vice President of NABKISAN, explained the FPO’s fundraising activities and procedures for utilizing the credit guarantee from NABSANRAKSHAN.
Various bank representatives and other stakeholders also explained the preconditions for opening an FPO account and FPO financing, in addition to the issues facing banks in financing FPOs.
The Agriculture Director explained and highlighted the department’s activities on FPO.
FPO members also raised issues they face while raising FPO funding.
Directors, APD Jammu and KK Sharma, among others. Director, Horticulture Jamm, Ram Sevak. CAD Jammu, RS Tara Director. Director, Agro, Dr Arun Manhas; bank representatives, stakeholders and FPO members were also present during the programme.