India to set up 500 Farmer Produce Organisations by the end of March 2021

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In the wake of farmers’ continuing agitation, and after having formed the relevant guidelines five months ago, the government of India is planning to set up nearly 500 Farmer Produce Organisations (FPOs) by the end of March this year. The target is to facilitate rolling out of 10,000 such bodies across the country by FY24. […]

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India increased minimum support prices (MSPs) for all crops in the range of 40-70% last year

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Union Minister for aviation, Hardeep S Puri has said that the government has not only implemented the recommendations of the Swaminathan Committee to increase MSP to 1.5 times of the cost of production but it increased MSP in the range of 40-70% in case of all crops. The government’s expenses for procurement at MSP has increased by […]

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ADB allocates $ 2.5 million for advanced biofuel development in India

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Multilateral lending agency Asian Development Bank (ADB) has approved a $ 2.5 million (about Rs 18 crore) technical assistance to support advanced biofuel development in India. The grant is funded from the Asia Clean Energy Fund, financed by the Government of Japan under the Clean Energy Financing Partnership Facility, and the Republic of Korea’s e-Asia […]

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NABARD has sanctioned micro-irrigation projects over Rs 3,800 crore so far: Agriculture Minister Narendra Singh Tomar

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Agriculture Minister Narendra Singh Tomar said the National Bank for Agriculture and Rural Development (NABARD) has sanctioned micro-irrigation projects worth Rs 3,805.67 crore till now. The projects have been sanctioned under the dedicated Rs 5,000-crore Micro Irrigation Fund (MIF) set up under NABARD in 2019-20 to facilitate states in mobilizing resources for expanding coverage of […]

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India’s MSMEs and farmers to get Rs 60,000 crore as collateral-free loan under government scheme

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The Finance Ministry has confirmed disbursement of Rs 60,000 crore collateral-free loans to MSMEs under various schemes, as announced by the Prime Minister. Indicating a steady progress of the Rs 3 lakh crore collateral-free loans proposed for MSMEs in the recent Atma Nirbhar Bharat Package, commercial banks have sanctioned loans worth Rs 1.2 lakh crore […]

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NABARD infuses Rs 1.46 lakh crore in rural banking system

National Bank for Agriculture and Rural Development (NABARD) said it has infused Rs 1.46 lakh crore in the rural banking system during the current fiscal. NABARD has been extending financial support to the banks operating in rural areas to help them deploy their resources effectively for meeting the credit needs of rural people, including farmers. […]

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India’s NCDEX launches firm to get into warehouse e-repository services

The NCDEX  has announced a new venture to provide repositories services for electronic negotiable warehouse receipts, which farmers can use to avail bank loan. The National E-Repository Ltd. (NERL) was launched after the government unveiled the electronic negotiable warehouse receipts (eNWRs) instead of manual receipts for the benefit of farmers last week. NERL Chief Executive Officer Kedar Deshpande said the […]

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