Initiative:
All round financial succour to marginal farmers at village level
Beneficiaries:
Small and marginal farmer members of Choppadandi PACS, Karimnagar district,
Telengana
The Challenge:
- Limited access to institutional credit
-
Limited working funds of PACS, resulting in its inability to meet credit
demands of members
-
Farmers forced to borrow from moneylenders at exorbitant interest rates
The Solution:
-
NABARD sponsored a 360-degree financial assistance programme to empower
Choppadandi PACS which covered vehicle loans, loans against pledge of
jewels, petty trade, etc.
-
Business Development Plan was prepared covering credit and non-credit needs
of members
The Impact:
- PACS members avail loans at affordable rates
- Nine villages covered under the programme
-
89% increase in deposit base of PACS; 37% increase in PACS share capital;
55% increase in profits
- PACS now a competitor to public sector banks in the area