"This partnership with a financial powerhouse like SBI will provide a significant boost to micro food processing enterprises in the state," said APFPS Chief Executive Sridhar Reddy in a press release, adding that maximum number of units will be covered. As part of this deal, SBI will offer collateral-free loans of up to Rs 10 lakh to eligible beneficiaries, following the guidelines of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) under the Agri Infrastructure Fund.
The Prime Minister, Narendra Modi addressed a webinar on effective implementation of Budget provisions regarding Agriculture and Farmers’ Welfare through video conference, in which some of the cooperative leaders including IFFCO Chairman and Nafed Chairman were invited.
Dileep Sanghani, NCUI President also attended the webinar, though NCUI- being a training organization was not in the list of invitees. The invite was restricted to co-op marketing federations, sources say.
In a comprehensive talk on the subject, the Prime Minister covered every aspect of agrarian economy which included FPOs, cooperatives, fisheries, dairy, SeaWeed, Beeswax and most of all processing of agricultural produce of small and marginal farmers and making them exportable.