NABARD Signed MoU with SB1, JKGB for JLG Financing


On August 10, 2021, National Bank for Agriculture and Rural Development (NABARD) signed a Memorandum of Understanding (MoU) with the State Bank Of India (SBI) and Jammu and Kashmir Gramin Bank (JKGB) in the Union Territory (UT) of Jammu and Kashmir (J&K) and The UT of Ladakh.
•Objective: To finance 1000 Joint Liability Groups (JLGs) and to enhance The flow of credit to tenant farmers, Oral lessees, sharecroppers, Small and
Marginal farmers (SF/MF), etc.
•The MoUs on JLG financing were Signed and exchanged between NABARD J&K Regional Office, SBI, and JKGB.
•The people who are suffering from Reverse migration under COVID-19 will Be provided credit facilities through
The JLG formation.
•The formation and credit linkage of 1000 JLGs will benefit around 5000 Households in J&K.
•Participants: The MoU was presided Over by A.K Sood, CGM, NABARD; Surender Singh, General Manager,
NABARD, Ajitav Parashar, Deputy General Manager SBI, and Sudhir Gupta, Chairman, JKGB, have
Participated and represented NABARD,
SBI, and JKGB in the MoU.

About National Bank for Agriculture and Rural Development (NABARD):
Establishment 1982
Headquarters Mumbai, Maharashtra
Chairman G.R. Chintala
About State Bank of India (SBI):
Establishment 1st July 1955
Headquarters Mumbai, Maharashtra
Chairman – Dinesh Kumar Khara
Tagline The Banker to Every Indian

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