Following the success of Tiruchi District Farmers’ Producer Company floated a year ago, the National Bank for Agriculture and Rural Development (NABARD) has floated two more companies.
This time, the NABARD has floated the companies in coordination with Dalmia Bharat Group Foundation, a trust promoted by Dalmia (Bharat) Cements Limited as part of the Foundation’s Corporate Social Responsibility.
The ‘Malaikottai Paddy Farmers’ Producer Company Limited’ will produce paddy while the ‘Dalmiapuram Cotton Farmers’ Producer Company Limited’ will produce cotton. S. Suresh Kumar, Assistant General Manager, NABARD, said the total strength of these two companies was 700 members – 420 for paddy and 280 for cotton.
The NABARD would provide all facilities for initial take-off of these companies such as establishment of office, incurring expenditure for administration and other expenses. “The NABARD will sanction a financial grant of Rs. 9.06 lakh to each company to encourage the farmer members to actively participate in production and marketing of the produce,” he said.
Farmers would also be motivated to undergo training, take up exposure visits and salary of resource persons. The administrative procedures for stocking and selling fertilizer, pesticides and other agricultural inputs have been taken up.
The companies would be inaugurated shortly, he told The Hindu here on Thursday.
“The NABARD will sanction a financial grant of Rs. 9.06 lakh to each company to encourage the farmer members”
