July 12, 2016 1:34 PM

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NABARD celebrates 35th foundation day today

NABARD, the apex banking body of micro-financing and funding to the causes of rural development is celebrating its 35th foundation day today.<br/><br/>Addressing a program in Lucknow, the chief general manager of NABARD, AK Panda said that as of now 74 lakh Self help groups, SHGs, covering over ten crore families have been financed by NABARD in the country.<br/><br/>A total of Rupees 11482 crores were disbursed to the people and agencies in Uttar Pradesh in FY 2015-16, he said. In Uttar Pradesh the number of SHGs is four lakhs and fifty lakh families. He said that 130 producer's organization assisted by NABARD was being run in UP out of which 100 have turned into full fledged companies doing robust businesses. Through Tribal Development Fund of NABARD, 8500 Tribal families in three districts of UP- Sonbhadra, Jhansi and Lalitpur are being served by enhancing their livelihood conditions.<br/><br/>AIR correspondent reports that NABARD is also carrying out financial literacy programs in five hundred districts including sixty districts of UP. In the main program, exhibition was also held where women pertaining to different SHGs also showcased their products and told their tales of triumphs. <br/><br/>The NABARD acts as a catalyst as it coordinates with banks and regional cooperative banks for the betterment of rural people and it's infrastructure through lending credit to various banks. The organization is also providing direct help to get geographical Indicators GI tags to their region specific produces. Besides, NABARD is also in dialogue with IRCTC to participate in its catering services where the SHGs will provide standardised food items to the passengers.

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