National Bank for Agriculture and Rural Development (Nabard) decided to form more number of Joint Liability Groups (JLGs) in backward Srikakulam district to strengthen the villagers economically with the establishment of self-employment units.
Nabard Srikakulam District Development Manager M.D. Vasudevan held meetings with Srikakualm District Cooperative Central Bank Chairman Dola Jaganmohana Rao and others for formation of JLGs in all the 38 mandals. Mr. Vasudevan said that JLGs will be trained in marketing of their products too to get more income within no time.
Mr. Jaganmohana Rao said that banks will get repayment promptly since everyone in the group would be held responsible for the loan amount.
He said that success rate was good in JLG concept compared to individual beneficiaries who might not have expertise in marketing.
Andhra Bank Deputy General Manager K. Umamaheswara Rao, DCCB Deputy General Manager D. Varaprasad and others participated in the meeting.
