National Bank of Agriculture and Rural Development (NABARD) Chairman Dr. Chintala Govindarajulu has announced the launch of rural bazaars in the Kamareddy district in Telangana. Rural bazaars help farmers and rural people to sell their agricultural products.
NABARD Chairman Govindarajulu launched a rural bazaar at Palvancha village of Machareddy Mandal in the Kamareddy district, along with Kamareddy collector Dr. Sharath and other officials. On the launch of the rural bazaar, NABARD chairman Govindarajulu said that NABARD with the help of rural baazar will create better marketing opportunities for farmers. Chairman also added that loans should be provided to farmers at modest interest rates to buy cattle under the watershed scheme and also issue loans to the fishermen to build up ice-factories.
Kamareddy collector Dr. Sharath suggested to NABARD chairman to develop Palvancha rural bazaar as an ideal market thereby providing more loans to the farmers to purchase cattle and thus supporting them. In this program held, Palvancha sarpanch Sunitha, MPTC Lavanya, NABARD CGM Y.K. Rao, Lead bank manager Rajender Reddy, Kamareddy RDO Srinu, and other officials participated. National Bank of Agriculture and Rural Development initiatives are focused to build up an empowered, financially inclusive, and stable rural India through specific goal-oriented departments which can be broadly divided into three categories, which include financial, developmental, and supervision. Through these initiatives, they had contributed to every aspect of the rural economy.
They give financial support to building rural infrastructure, help in the documentation of district-level credit plans to support and motivate the banking industry in achieving their targets. They also help in supervising Cooperative Banks and Regional Rural Banks (RRBs) to develop proper banking practices and enrolling them to the Core Banking Solution platform, designing new development schemes to the implementation of Government of India’s development schemes, and training handicraft artisans to provide them a marketing platform for selling these articles.
World’s largest microfinance project, The SHG Bank Linkage Project, was launched by NABARD in 1992. Kisan Credit Card developed by NABARD was a benchmark for the farmers. One-fifth of India’s rural infrastructure was financed by them. They are the beginners in the watershed development program for the sustainable development.
