NABARD Commemorated its Foundation Day By Granting 2.60 lakh Financial Assistance to Noorpur Agriculture Society

Ludhiana, July 21, Channel88 News (Bureau):- NABARD provides assistance to Cooperative Credit Structure (CCS) for capacity building and creation of infrastructure as well as for introduction and better use  of Information technology.  NABARD created an exclusive and dedicated fund viz. Cooperative Development Fund (CDF) for this purpose.Assistance from the fund is provided to Cooperative Banks run training institutes, District Central Cooperative banks and Primary Agriculture Credit Societies (PACS).   In its endeavour to provide better infrastructure facilities to rural people, NABARD has sanctioned a grant support of ₹ 2.60 lakh to Ludhiana Central Cooperative Bank  for development of infrastructure facilities at Noorpur Primery Agriculture Cooperative Society, Ludhiana.  This amount will be utilised for installation of 6 Kw solar panel at society premises and provision of new furniture to provide better facilities to farmers.The support provided by NABARD is helping the societies in improvement of their image and ensuring better service to their members.Mr Sanjeev Kumar, the newly appointed District Development Manager, NABARD, while giving this information, told that NABARD is quietly celebrating its 39th foundation day and during this week, marking the occasion with helping the people at far end of the society. He also told that  a strong rural credit delivery system is crucial for the smooth flow of institutional credit to agriculture, allied activities, and rural non farm sector.Institutionalisation of rural credit rests on expansion of branch network in order to improve the access of banking facilities in rural areas, on the one hand, and transformation of financial institutions into organisationally strong, financially viable, and operationally efficient units on the other.NABARD provides both financial as well as technical support to rural cooperative credit institutions. Financial support is provided through the Cooperative Development Fund (CDF) while technical, capacity building, and knowledge-sharing support is provided through training institutes.  For this purpose, a Cooperative Development Fund (CDF) has been created in NABARD to supplement the efforts of the ground-level cooperative credit institutions in their endeavour to emerge as multi-functional entities. Under the fund, assistance is provided by way of grant, soft loan, or grant-cum soft loan for human resources development, capacity building for efficient decision making and effective implementation, building up of better Management Information System (MIS) and analytical capability.