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[1] [2] Joint Liability Group is a group of 4-10 people of the same village or locality of homogenous nature and of the same socioeconomic background who mutually come together to form a group for the purpose of availing loan from a bank without any collateral.
NABARD's role in rural development in India is phenomenal. [30] The credit flow to agriculture activities sanctioned by NABARD reached Rs 1,57,480 crore in 2005–2006. [citation needed] Through assistance of the Swiss Agency for Development and Cooperation, NABARD set up the Rural Innovation Fund.
Many self-help groups, especially in India, under NABARD's 'SHG Bank Linkage' program, borrow from banks once they have accumulated a base of their own capital. This model has attracted attention as a possible way of delivering micro-finance services to poor populations that have been difficult to reach directly through banks or other ...
The Kisan Credit Card (KCC) scheme is a credit scheme introduced in August 1998 by Indian public sector banks to issue kisan credit card to the farmers of India.This model scheme was prepared by the National Bank for Agriculture and Rural Development (NABARD) on the recommendations of the R. V. Gupta Committee [1] to provide advances for agricultural needs.
Aloysius Prakash Fernandez is an Indian economist, social worker and the Chairman of the NABARD Financial Services Limited (NABFINS), [1] a National Bank for Agriculture and Rural Development (NABARD) subsidiary, formed with the participation of several banks in India. [2]
Micro Units Development and Refinance Agency Bank (or MUDRA Bank) [1]) is a public sector financial institution in India. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi on 8 April 2015. [2]
They play a statutory role in the financial markets through credit extension and refinancing operation activities and cater to the long-term financing needs of the industrial sector. [ 4 ] SIDBI is active in the development of Micro Finance Institutions through SIDBI Foundation for Micro Credit, and assists in extending microfinance through the ...
The self-help group (SHG) linkage model has also been proposed to improve financial inclusion by linking community groups to the formal banking sector through government programs, credit cooperatives, NGOs, or other microfinance institutions. Group-based models in which members pool their savings have also been seen as tools for social and ...