Excelsior Correspondent
JAMMU, June 28: A Memorandum of Understanding (MoU) on promotion and financing of 2000 JLGs was today signed and exchanged between NABARD, J&K Regional Office, Jammu and J&K Grameen Bank.
Anamika, Deputy General Manager, NABARD and Sanjay Gupta, Chairman, J&K Grameen Bank signed an MoU on behalf of NABARD and J&K Grameen Bank respectively.
The MoU signing ceremony was presided over by Dr. Ajay Kumar Sood, Chief General Manager NABARD, who highlighted that main objective of MoU signing was to enhance the flow of credit to tenant farmers, oral lessees, sharecroppers, landless farmers etc who may not have proper title to their land holdings.
The aim is also to meet credit requirements of lower strata of the society by forming and credit linking Joint Liability Groups (JLGs).
Dr. Sood applauded J&K Grameen Bank for successfully financing 700 JLGs under the MoU signed between NABARD and J&K Grameen Bank during the last financial year.
Sanjay Gupta, Chairman, J&K Grameen Bank, commended NABARD’s initiatives for promoting financial inclusion in the Union Territory and expressed gratitude for its continuous support to the Bank.
He further assured that the Bank will continue to play a major role in development in every aspect and will ensure that initiatives like social security schemes, SHG and JLG credit linkage reach even the remotest corners.
Under this MoU, J&K Grameen Bank will form and finance 2000 JLGs in J&K and Ladakh and NABARD will provide a promotional grant support of Rs. 4000 per JLG to J&K Grameen Bank.
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