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Nabard subsidiary ‘NABSanrakshan’ sets up Rs 1000 cr credit guarantee fund trust

Sumit Arora Published On October 21st, 2021 Leave a comment

The National Bank for Agriculture and Rural Development (NABARD) has announced the creation of an 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.

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For this, NABSanrakshan has signed a trust deed with the Ministry of Agriculture and Farmers Welfare. The Trust has been registered at Mumbai. The credit guarantee offered through the trust will enhance the creditworthiness of FPOs besides facilitating cost-effective production and productivity leading to higher net incomes to the farmers who are members of FPOs.

Important takeaways for all competitive exams:

Chairman of NABARD: G R Chintala;
NABARD Founded: 12 July 1982;
NABARD Headquarters: Mumbai.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.