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Nabard Chairman comes calling; NCDC to help set up 8000 FPOs
New Delhi | December 2020
Nabard Chairman Dr GR Chintala visited NCDC headquarters last week and met its Managing Director Sundeep Nayak. The aim of the meeting was to boost the formation of Farmers Producer Organization (FPO) across states. Briefing about the content of the meeting, NCDC Managing Director said to Indian Cooperative that NCDC and Nabard are going to help form thousands of FPOs across India. We aim to set up 8000 FPOs, Nayak added.
There will be a Credit Guarantee Fund of up to Rs 1,000 crore in NABARD with equal contribution by DAC&FW and NABARD and Credit Guarantee Fund of Rs.500 crore in NCDC with equal contribution by DAC&FW and NCDC for providing suitable credit guarantee cover to accelerate flow of institutional credit to FPOs by minimising the risk of financial institutions for granting loan to FPOs.
Welcoming Nabard Chairman NCDC India, the FB page of co-op lender wrote “Welcome and Happy New Year Dr GR Chintala, Chairman NABARD and Member Board of Management NCDC. He visited NCDC headquarters in Delhi today. NABARD and NCDC have joined hands to give boost to all round farmers prosperity.”
Later talking to Indian Cooperative NCDC MD Nayak said that 8000 FPOs is just the beginning and what you see is just the tip of the ice-berg. We have ambitious plan for popularising the FPOs, Nayak said on phone.
It bears recall that the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for massive formation of FPOs across the states to ensure economies of scale for farmers. Support to each FPO would be continued for 5 years from its year of inception.
Through formation of FPOs, farmers will have better collective strength for better access to quality input, technology, credit and better marketing access through economies of scale for better realization of income.
Initially there are three implementing Agencies to form and promote FPOs, namely Small Farmers Agri-business Consortium (SFAC), National Cooperative Development Corporation (NCDC) and National Bank for Agriculture and Rural Development (NABARD).
States may also, if so desire, nominate their Implementing Agency in consultation with DAC&FW. The dept will allocate Cluster/States to Implementing Agencies which in turn will form the Cluster Based Business Organisation in the States.
FPOs will be formed and promoted through Cluster Based Business Organizations (CBBOs) engaged at the State/Cluster level by implementing agencies. The CBBOs will have five categories of specialists from the domain of Crop husbandry, Agri marketing / Value addition and processing, Social mobilisation, Law & Accounts and IT/MIS.
Adequate training and handholding will be provided to FPOs by the NCDC, claimed its MD.