Jammu: In order to give boost to flow of credit in UT of J&K, Memorandum of Understandings (MoUs) on Financing of 1000 Joint Liability Groups (JLGs) was signed and exchanged between NABARD, J&K and State Bank of India (SBI) and Jammu & Kashmir Gramin Bank (JKGB) here today.
The MoUs were signed in presence of General Manager, NABARD, Surender Singh; Deputy General Manager, SBI,B&O,J&K, Ajitav Parashar and Chairman, JKGB, Sudhir Gupta.
CGM, NABARD, Dr A.K.Sood; DGM, NABARD, Anamika; AGM, SBI, Sanjeev Mahajan and Sr. Manager, JKGB, Makhan Singh were also present on the occasion.
The main objective of the signing of MoUs is to enhance the flow of credit to tenant farmers/oral lessees/sharecroppers, SF/MF etc., who at times may not have proper title to their land holding.
The JLG formation will also meet the credit requirements of people suffering reverse migration in the wake of COVID 19 pandemic. The formation and credit linkage of 1000 JLGs will benefit almost 5000 households in the UT of J&K.
