Jharkhand State Cooperative Bank signed a Memorandum of Understanding (MoU) with Nabard for promotion and financing of 2000 Joint Liability Groups (JLGs) on Tuesday. This was signed at the regional office of NABARD in Ranchi and it will cover three years.
On behalf of the Jharkhand State Cooperative Bank Dr Manoj Kumar signed the MoU with Nabard General Manager Goutam Kumar Singh.
Soon after signing the MoU, talking to Indian Cooperative Kumar said, “We have set a target to launch 500 JLGs till 15th August 2022 and we are sure, we will achieve this target easily. The bank has a network of 105 branches and we have given targets to branches to launch five groups minimum”, he added.
He said that through JLG, the facility of bank financing is available to the landless farmers in the state for farming, handicrafts and activities in agriculture and the non-farm sector.