NABARD formed Joint Liability Group to finance Small Farmers

Rural development agency National Bank for Agriculture and Rural Development (NABARD) announced to form a new concept called Joint Liability Group (JLG) on 24 February 2014.

JLG aimed to provide institutional credit to small farmers like share croppers, oral lessees and agricultural labourers. 

Important to note : 

• NABARD has already 41 lakh SHGs which are credit linked.
• H K Bhanwala is the Chairman and Managing Director (CMD) of NABARD.