Krishi VaartaKrishi Jaagran
Good news for farmers! NABARD launches loan guarantee program!
If you are thinking of starting your own business but are stuck due to lack of money or want to get a loan at low interest rate but cannot get it, then you can apply for a loan in National Bank for Agriculture and Rural Development. In fact, NABARD has launched a dedicated loan guarantee programme to ensure loans are provided without any hassle in the rural areas affected by the Corona epidemic. This product of NABARD has been designed in accordance with the NBFC - Finance and Partial Guarantee Program for Micro Finance Institutions. Under this, small and medium-sized micro finance institutions (MFIs) will get partial guarantee on loans given collectively.
NABARD signed the agreement
NABARD has signed an agreement with Vivriti capital and Ujjivan Small Finance Bank. Under this scheme,they will provide funding for micro companies and EWS families.
Who will get the benefit of this facility
According to NABARD Chairman GR Chintala, the partial loan guarantee facility will provide financial benefits to millions of families, agribusinesses and business markets in fighting the post-Corona crisis.
How much will be the initial funding
In the first phase, funding of about 2 thousand 5 hundred crore rupees will be done, which will be increased later. Under this program, lakhs of families in 28 states and 650 districts are expected to get the facility.
Source: Krishi jagran, 29 August 2020,
If you feel this information is useful to you, like and share it with your friends.