NABARD Pushes for Value Chain Financing in Rural Lending Reform
NABARD's Deputy Managing Director, Ajay Kumar Sood, advocated for a shift from production-centric lending to value chain financing and market-linked interventions. He emphasized integrated approaches during a high-level meeting with bankers, highlighting NABARD's commitment to cooperative development and ecological sustainability through various projects and initiatives.
- Country:
- India
NABARD is spearheading a significant shift in rural lending, as its Deputy Managing Director, Ajay Kumar Sood, calls for a broader focus on value chain financing and market-linked interventions. Sood emphasized the importance of these integrated approaches during a pivotal meeting with senior banking officials.
During his visit, Sood underscored the performance under Ground Level Credit (GLC) and strategies to bolster rural credit systems. He also announced that Regional Cooperative Banks would start lending to Large Area Multi-Purpose Societies (LAMPS) and Primary Agricultural Credit Societies (PACS), marking an important step towards enhancing last-mile credit delivery.
Sood's tour also included inaugurating JIVA Natural Farming Projects and discussions with farmer groups, focusing on promoting regenerative farming systems and improving market access. These actions reflect NABARD's commitment to cooperative development and ecological sustainability in rural areas.
(With inputs from agencies.)
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