Tuesday, Sep 21 2021 | Time 22:06 Hrs(IST)
Business Economy

NFDB inks MoU with PNB to extend financial assistance to Fisheries sector

Hyderabad, Aug 5 (UNI) National Fisheries Development Board (NFDB) on Thursday entered into an MoU with Punjab National Bank (PNB), premier bank in the country, to extend financial assistance through the Bank to the Fisheries sector.
MoU was held here in the presence of NFDB Chief Executive Dr.Suvarna Chandrappagari, PNB MD and CEO, CH S S Mallikarjuna Rao, Executive Director (Infra) M Arul Bosco Prakash, PNB Zonal Head and General Manager Sanjeevan Nikhar and PNB Head Credit and Nodal In-charge (Hyderabad) Rajnish Kumar.
The Zonal Office in Hyderabad will be the Nodal Office for all the technically approved proposals received by NFDB across the country, the bank said in a release here.
The Government created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) in 2018-19 and is being implemented with a total fund size of Rs.7522.48 crores comprising of Rs. 5266.40 crore to be raised by Nodal Lending Entities (NLE), like NABARD, NCDC and all scheduled banks.
The eligible entities will be the State Governments / Union Territories, Corporations/Undertakings/Govt. Sponsored, Supported Organizations, Fisheries Cooperative Federations (including FISHCOPFED), Cooperatives, Collective groups of fish farmers and fish produce groups .
Panchayat Raj Institutions/Self Help Groups (SHGs)/ NGOs, SCs/STs/Marginal Farmers, Women & entrepreneurs, Self Help Groups, Private companies/entrepreneurs and Physically disabled.
FIDF will help in creation and modernization of Infrastructure of capture & culture fisheries Marine Aquaculture, Inland Fisheries, Reduce post-harvest losses and improve domestic marketing facilities and to bridge the resource gap and facilitate completion of ongoing infrastructure projects.
So far 67 projects have been approved in the country. 14 from the individual/ private entrepreneurs under FIDF and 53 under Entrepreneur model of PMMSY scheme.
Speaking on the occasion, Dr.Suvarna, said, “MoU with PNB will harness the untapped potential of Fisheries sector in tying up the individuals/Private Entrepreneurs of both FIDF and Entrepreneur Models under Pradhan Mantri Matsya Sampada Yojana (PMMSY) for availing Bank loan from PNB, pan India.”
“PNB with 10641 branches 13781 delivery channels and 12518 Business Correspondents, 116 Loan processing centres of Retail, Agrl, & MSME loans and 137 Loan processing centres for Mid Corporate Credit including MSME loans for quick-processing. These dedicated loan Centres will be collaborating with NFDB for Bank funding under FIDF &PMMSY Schemes” remarked, Mallikarjuna Rao.
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