Govt approves INR 10 bln for credit guarantee scheme for small farmers
This story was originally published at 15:32 IST on 20 December 2024
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MUMBAI – The credit guarantee scheme for electronic negotiable warehouse receipts-based pledge financing was approved with a corpus of INR 10 billion, the Ministry of Consumer Affairs, Food and Public Distribution said in a release highlighting the major activities of the Food and Public Distribution Department this year.
Implementation of the scheme began in financial year 2024-25 (Apr-Mar) and will continue till FY31. The scheme is for pledge financing availed by farmers against electronic negotiable warehouse receipts after depositing commodities in accredited warehouses.
The scheme is aimed at increasing post-harvest lending against the receipts, thereby improving farmers' income, the release said. The scheme's major focus is on small and marginal farmers, women, scheduled castes/scheduled tribes, and handicapped farmers with a minimal guarantee fee. Small traders are also benefiting from the scheme, according to the release. End
Reported by Ashutosh Pati
Edited by Rajeev Pai
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