The National Bank for Agriculture and Rural Development (Nabard) is planning to approve five projects in Tamil Nadu under the funding schemes like Research and Development Fund (R&D F), Farm Innovation and Promotion Fund (FIPF) and Rural Innovation Fund (RIF). | |
| It would provide assistance to projects proposed by self-help groups (SHGs), NGOs, individuals, non-profit organisations and universities under these schemes. |
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| Addressing a seminar on 'Rural innovations and extension services', K V Raghuvulu, chief general manager, Nabard, said RIF would have a corpus of Rs 145 crore. The amount is expected to be utilised in the next five years whereas, the FIPF scheme has a corpus of Rs 5 crore per year. |
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| "We invite government agencies, academicians, researchers, corporates, NGOs and others to come up with innovative project proposals for farming, non-farming and micro-finance sectors in order to avail of these funds and work for the betterment of the agricultural community," Raghuvulu added. |
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| "Under the RIF scheme, 25 per cent of the annual expenditure will be set aside for new proposals for innovations in rural areas. Nabard will fund 95 per cent of the total project cost," he added. |
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