NAGAPATTINAM: The National Bank for Agriculture and Rural Development (NABARD) has set up Farmers Technology Transfer Fund (FTTF) with a corpus of Rs.25 crore from its operating profit of 2007-08 and became operational from April this year.
K. Venugopal, Assistant General Manager, NABARD, Nagapattinam, told The Hindu on Saturday that the main objectives of the fund would be supporting all farmers including members of farmers’ clubs to facilitate adoption of appropriate technologies through training-cum-exposure visits, demonstrative projects or such other activities.
The other objectives included dissemination of appropriate technologies and commercial intelligence through direct contacts, literature, visuals, etc., and undertake activities such as financial literacy, credit counselling and other related activities.
He pointed out that organisation of farmers into informal associations, joint liability groups, producer groups, producer companies or other ways for self-help, collective approach for commercial transactions, networking with the value chain and financial inclusion would be given importance.
Mr. Venugopal said that NABARD would provide support to the Farmers Training and Rural Development Centres (FTRDCs) to set up major commercial banks or any other agencies by meeting 50 per cent of the annual recurring expenses or Rs.15 lakh whichever is lower, for the purpose of training and technology transfer to rural artisans, farmers and other rural people.
Referring to the project duration, he said that projects and programmes up to three years would be considered for support under the fund and the quantum of assistance would be limited to a maximum of 95 per cent of the project outlay.
The fund will be utilized to extend support in the form of grant, soft loan, equity like support or a blend as decided by NABARD.
The AGM said that NABARD had facilitated formation of about 25,500 farmers’ clubs in several States with the support of commercial banks, regional rural banks and co-operative banks with the key role relating to dissemination of appropriate technology, development of skills in rural areas, formation of self-help groups and linkage with banks, etc.
K. Venugopal, Assistant General Manager, NABARD, Nagapattinam, told The Hindu on Saturday that the main objectives of the fund would be supporting all farmers including members of farmers’ clubs to facilitate adoption of appropriate technologies through training-cum-exposure visits, demonstrative projects or such other activities.
The other objectives included dissemination of appropriate technologies and commercial intelligence through direct contacts, literature, visuals, etc., and undertake activities such as financial literacy, credit counselling and other related activities.
He pointed out that organisation of farmers into informal associations, joint liability groups, producer groups, producer companies or other ways for self-help, collective approach for commercial transactions, networking with the value chain and financial inclusion would be given importance.
Mr. Venugopal said that NABARD would provide support to the Farmers Training and Rural Development Centres (FTRDCs) to set up major commercial banks or any other agencies by meeting 50 per cent of the annual recurring expenses or Rs.15 lakh whichever is lower, for the purpose of training and technology transfer to rural artisans, farmers and other rural people.
Referring to the project duration, he said that projects and programmes up to three years would be considered for support under the fund and the quantum of assistance would be limited to a maximum of 95 per cent of the project outlay.
The fund will be utilized to extend support in the form of grant, soft loan, equity like support or a blend as decided by NABARD.
The AGM said that NABARD had facilitated formation of about 25,500 farmers’ clubs in several States with the support of commercial banks, regional rural banks and co-operative banks with the key role relating to dissemination of appropriate technology, development of skills in rural areas, formation of self-help groups and linkage with banks, etc.
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