Dimapur July 12 (EMN): One-day awareness programme on Joint Liability Group (JLG) was held on July 5 at Jotsoma village organised by National Rural Bank for Agriculture and Rural Development (NABARD) in collaboration with Nagaland State Social Welfare Board (NSSWB) SCA of State Resource Centre for Women (SRCW).
Project Manager of NMDFC, Asalie Alex Kruse, who chaired the [programme gave overview of the programme.
AGM of NABARD, Bendang Aier, introduced the Joint Liability Group (JLG) which is a concept under NABARD to provide an effective credit product for small farmers, marginal farmers, tenant farmers, share cropper and oral lessees.
He briefed the features and the necessary requirements to form such group and to avail loans from the bank subsequently. Bendang encouraged the JLG members to save regularly and reminded the participants that the quantum of loan to be given to the groups would be related to the credit needs of the enterprise.
He also spoke on the various operational models of JLGs and gave a clear distinction between SHGs and JLGs.
Manager of UCO Bank, Kohima, S.K Chetri, spoke on the importance of having a bank account and the various benefits linked with it.
He encouraged the participants to be ‘good customers’ by ensuring timely payment of loans and also be mindful of the practical difficulties faced by the banks in reaching the rural areas.
He said villagers can reap maximum benefit from banks by timely repayment of smaller loans to avail much larger loans by gaining the good faith of the institutions.
Manager of Lead Bank, Seikhao Sitlhou, assured the participants that it would help in its capacity as the leader of consortium of banks in the area to ensure that the loan process to JLGs is successful.
The role of Lead bank is to oversee the arrangement of loan syndication and coordinate the efforts of all banks in the area for credit expansion to sectors which are important to the economy, he said.
Resource person from North East Development Agency (NEIDA), Tiarenba shared some insight from their expertise field. He mentioned that through direct field engagement, NEIDA works towards improving the quality of households through improved agriculture and horticulture practices and dissemination of knowledge on various issues.
He also emphasised on improvised piggery practices as it is widely practised in the village so as to reap the maximum benefits from the livestock while maintaining the highest standards of hygiene.
In an interactive session, participants cleared their doubts on the various processes and paperwork involved in opening bank accounts and forming JLB.
