Indus Valley Times

By Chittaranjan Beura

Bhubaneswar, May 3: NABARD Odisha Regional Office has taken up an ambitious campaign to credit link 100 FPOs in 100 days.

The campaign started at the end of December 2022. As of 31st March 2023 NABARD Odisha Regional Office had successfully credit-linked 101 FPOs with a loan from NABKISAN, a subsidiary of NABARD. The campaign has been named as “Together We Can Do More’’.

NABARD Odisha Regional Office plays a lead role in formation, sustenance, growth and development of FPOs in Odisha.  Nearly 400 FPOs have already been formed and 85% of them are found to be doing well. As the FPOs go for increasing their business, the most important resource required is credit, both for working capital and for setting up of small infrastructure, vehicle, storage, processing, etc. As the loan requirement for FPO is low, most of the Banks have not been actively providing credit to FPOs. NABKISAN, a subsidiary of NABARD is a leading NBFC in the Country in extending loans to FPOs without collaterals.

In order to bring acceleration to the credit linkage activity in the State, NABARD Odisha Regional Office and NABKISAN have together partnered to take up this challenge and with concerted efforts, grass root level camps, etc the target has been achieved successfully. A loan amount of Rs.9.27Cr has been sanctioned to 101 FPOs.

Shri, Shaji KV, Chairman, NABARD during his visit to Odisha, has issued a sanction letter to the 101st FPO to mark the campaign “Together We Can Do More’’, a success.