National Bank for Agriculture and Rural Development (Nabard) could join hands with Reliance to boost its agro retail initiative in West Bengal. |
The nodal bank for agriculture and rural development is likely to approach Reliance in this regard soon. |
|
Reliance Retail, the retail arm of Reliance Industries, is planning to set up hitech mandis in West Bengal along with retail malls. The group is planning to invest close to Rs 2,000 crore in the retail initiative in the state. |
|
The managing director of Nabard, K G Karmakar told Business Standard that it is keen to join hands with Reliance in its agro retail initiative in the state. "We will speak to Reliance on this," he said. |
|
Karmakar met chief minister Buddhadeb Bhattacharjee last week and expressed its willingness to collaborate with the state government in various micro finance initiatives. |
|
According to Karmakar, Nabard could provide back end support to this retail initiative through micro finance initiative to the smaller farmers. |
|
"We can give soft loans to the farmers for buying seeds etc along with our expertise who in turn could supply to the agro hubs of Reliance," he added. |
|
The Nabard MD pointed out that the bank is already associated with Reliance group in the latter's agro-initiative in Jamnagar. "We have joined hands with Reliance for medicinal plants. Nabard could do this here too," he added. |
|
Mukesh Ambani recently told reporters here after meeting chief minister Buddhadeb Bhattacharjee that it would help the farmers to get global exposure. |
|
He also indicated about financial support for farmers. |
|
According to Nabard MD, besides, Reliance initiative, the nodal bank would help the state government in community tourism initiative and in the selling of jute products. "We are planning to develop community tourism in places like Dooars, Bishnupur and Sunderbans through self help groups. I have already spoken to the state tourism minister Manab Mukherjee in this regard," he added. |
|
Commenting on its other initiatives here, he said that Nabard is trying to bring some experts to train the NGOs for marketing jute products. |
|
The bank is also planning to help weaker sections in the state through the formation of joint liability groups. |
|
"We can use the joint liability group model here to finance the marginal farmers who has no title to land. This is successful in Andhra Pradesh," he added. |
|
|
|