SBI, NABARD Tie up to Promote Joint Liability Groups in Bengal

State Bank of India and NABARD have signed an agreement with five NGOs in Bengal for the promotion of 2,500 joint liability groups (JLGs) in select districts of the State.

JLGs are informal groups of 4-10 members engaged in similar economic activities and willing to jointly undertake the responsibility to repay loans taken by the group from a bank.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-

  • NABARD-National Bank for Agriculture and Rural Development.
  • NABARD Chairman- Harsh Kumar Bhanwala, Headquarters- Mumbai.

Source- The Hindu Business Line