Over 200 FPOs given credit guarantee cover of Rs 67.91 crore in last 7 years: Narendra Singh Tomar

#credit guarantee, #Economy, #FPO, #India, #Narendra Singh Tomar

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The government has extended credit guarantee cover of Rs 67.91 crore to more than 200 farmer producer organisations (FPOs) in the last seven years, Parliament was informed on Friday.

In 2013-14 fiscal, the government through Small Farmers’ Agribusiness Consortium (SFAC) had created the 100 crore Credit Guarantee Fund to finance the project load of FPOs.

“Till date, 202 farmer producer companies (also called FPOs) have been extended credit guarantee cover amounting to Rs 67.91 crore,” Agriculture Minister Narendra Singh Tomar said in a written reply to the Rajya Sabha.

The minister further said the Centre has created a credit guarantee cover with the National Bank for Agriculture and Rural Development (NABARD) as part of the central scheme that aims to establish and promote 10,000 FPOs across the country.

Since 2011-12 to date, Tomar said SFAC has promoted 1,340 FPOs and mobilised 9.83lakh farmers as member beneficiaries. Further, NABARD has promoted 5,758 FPOs by mobilising 15.95lakh farmers as members, he added.

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