 Early Times Report
JAMMU, June 28: NABARD, J&K Regional Office, Jammu, and J&K Grameen Bank signed a Memorandum of Understanding (MoU) for the promotion and financing of 2000 Joint Liability Groups (JLGs). The signing ceremony took place at the Head Office of J&K Grameen Bank in Narwal, Jammu.
Anamika, Deputy General Manager of NABARD, and Sanjay Gupta, Chairman of J&K Grameen Bank, signed the MoU on behalf of their respective organizations. Dr. Ajay Kumar Sood, Chief General Manager of NABARD, presided over the ceremony and highlighted the main objective of the MoU, which is to enhance credit flow to tenant farmers, oral lessees, sharecroppers, and landless farmers who may not have proper land titles. The aim is also to meet the credit needs of the marginalized sections of society by forming and credit linking JLGs. Dr. Sood commended J&K Grameen Bank for successfully financing 700 JLGs under the previous MoU signed with NABARD during the last financial year.
Sanjay Gupta, Chairman of J&K Grameen Bank, praised NABARD's initiatives in promoting financial inclusion in the Union Territory (UT) and expressed gratitude for its continuous support to the bank. He assured that the bank will continue to play a significant role in the development of the region and ensure that initiatives like social security schemes, self-help group (SHG) and JLG credit linkage reach even the remotest areas.
Under the MoU, J&K Grameen Bank will form and finance 2000 JLGs in J&K (UT) and Ladakh (UT), while NABARD will provide a promotional grant support of Rs. 4000 per JLG to J&K Grameen Bank. |
