In an initiative which aims to bring real time empowerment to farming communities across the country, NABARD set up “Producers Organization Development Fund” (PODF) in 2011 with an initial corpus of Rs. 50 crore. The Fund supports formation and financing producer organizations by adopting a flexible approach to meet the needs of producers. Any registered Producers Organization viz, Producers Company ( as defined under Sec 581 A in part IXA of Company’s Act 1956), Producers Cooperatives, registered Farmer Federations, MACS (Mutually aided cooperative society), industrial cooperative societies, other registered federations, PACS, etc. set up by producers are eligible under the fund.
The following types of support are provided under PODF:
- Credit Support in the form of grant, loans, or a combination of these for capacity building & market interventions.
- Credit Support for contribution to share capital. This has been allowed since most of the Producers Organisations are having low capital base.
- Complete details of PODF