The Business Bytes
TBB BUREAU
BHUBANESWAR, SEPT 18, 2021
National Bank for Agriculture and Rural Development (NABARD) Chairman G.R. Chintala on Saturday emphasized on Farmer Producer Organizations (FPOs) of Odisha increasing their volume of business, turnover and profit to remain sustainable on a long term basis.
Inaugurating the State Level Farmer Producer Organization (FPO) Conclave–2021 organized by NABARD Odisha Regional Office here today, Chintala said that democratic governance is the essence of FPO; and therefore, all FPOs should follow the good governance practices. He further said that the benefits should reach to the last member of the FPO.
Over 100 FPOs/OFPOs had participated in the conclave and shared their experience.
The FPOs assured to work hard in order to improve their turnover, financials, share capitals and follow the democratic governance process in the FPO management.
Addressing the gathering, Susheela Chintala said that FPOs should be judicious in spending their limited resources and avail credit from NABKISAN, and it should help them to increase their turnover and financial health.
NABKISAN is a subsidiary of NABARD which provides credit linkage to FPOs. The Managing Director of NABKISAN also attended the conclave and addressed the FPOs.
Ten FPOs were provided with vehicles for transporting their produce to the market wherein 50 percent of the cost was subsidized through NABARD grant. The vehicles would help the FPOs in improving their business operations in their locality and to reach the new market.
NABARD Chairman and NABKISAN Managing Director handed over sanction letters and keys of the transport vehicles to the selected FPOs
A large number of weavers also participated in the conclave and displayed their products. It may be mentioned that NABARD also supports Off Farm Producer Organizations (OFPOs) to support the weavers and artisans.
Earlier, the NABARD Chairman visited the newly constructed OMFED Automated Dairy Processing Plant project supported under the RIDF of NABARD. During his visit, Chintala also interacted with the Managing Director of OMFED.
