Would initiate steps to open subsidiary of NABARD: Birendra

Don't want to miss the best from Business Standard?

Agreeing that the poor face difficulty in getting loans from banks, Union Rural Development Minister Choudhary Birendra Singh today said he would initiate steps in opening a subsidiary of rural development lender NABARD to ease the process.
"There are many formalities in it (to get bank loans), and I agree to the problems (faced by the people in getting bank loans). To make the system easy, I will try (the process of) opening a subsidiary of NABARD," Singh said at a press conference here.
Singh, who was here to attend Deen Dayal Upadhyaya Grameen Kaushal Yozana, a programme organized with the Confederation of India Industries, was replying to a query on the problems faced by the poor to get loans from banks.

Advocating for a focused employment and adding value chain while imparting training to the rural youth from the below poverty line, Singh called upon the captains of industry to give a complete skill training to the youth instead of training in a single component of an article.
He called for a good relationship between employers/employees to develop a "sense of oneness".
Promising adequate funds to assist Jharkhand, Singh, however, drew the attention that the state had still unspent money in development programmes.