Nabard subsidiary ‘NABSanrakshan’ sets up Rs 1000 cr credit guarantee fund trust to support FPOs
- The National Bank for Agriculture and Rural Development (NABARD) has announced the creation of a Rs. 1,000 crore Credit Guarantee Fund Trust for FPOs (CGFTFPO), a dedicated fund for providing credit guarantees to FPOs.
- The fund has been launched under the trusteeship of NABSanrakshan Trustee Pvt Ltd, a wholly-owned subsidiary of NABARD.
- For this, NABSanrakshan has signed trust deed with the Ministry of Agriculture and Farmers Welfare. The Trust has been registered at Mumbai.
- CGFTFPO is part of the Pan-India central scheme for ‘Formation and Promotion of 10,000 Farmer Produce Organisations (FPOs)’.
Points to Remember:
- Which organization has launched Credit Guarantee Fund Trust for FPOs (CGFTFPO)?
- Amount that will be housed in the fund?
- NABSanrakshan Trustee Pvt Ltd is a wholly-owned subsidiary of which entity?
Source: Hindubusinessline