MOU on bank finance to BPL persons signed

Arunachal Pradesh State Cooperative Apex Bank has inked a MoU with National Schedule Tribe Finance & Development Corporation (NSTFDC) for bank finance to ST unemployed BPL persons of the state under various activities like establishment of diary and goatry.
The document was signed on December 16 last, bank officials said here today.
The NSTFDC had sanctioned Rs.46.53 crores on December 8 last for setting up of 2,200 self-employed units.
After completion of all formalities, the bank would start implementation of these schemes in the entire state in cluster basis within the next three months.
It is expected that the scheme would give a boost to the cooperative sector and the bank.

It would also help in employment generation, economic growth, and income generation in the state, they said.

The scheme would be implemented under the Chief Minister's Employment Generation Mission and likely to provide self-employment to about 9000 unemployed youth in the first phase and about 20,000 persons in total.
Under the scheme, loan would be offered at concessional rates which are repayable in five years.
Discussions have also been held by bank management with NABARD officials to dovetail the NSTFDC scheme with NABARD supported producing societies and NGOs to set up primary processing units.
These processing units would facilitate marketing and processing various farm products of the primary producing units set up under NSTFDC loan.