: National Fisheries Development Board signs pact with Punjab National Bank to pump liquidity into fisheries sector #FinanceIndia #StockMarketNEWS National Fisheries Development Board signs pact with

@StockMarketNEWS Sat 07 Aug, 2021

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National Fisheries Development Board signs pact with Punjab National Bank to pump liquidity into fisheries sector #FinanceIndia #StockMarketNEWS
National Fisheries Development Board signs pact with Punjab National Bank to pump liquidity into fisheries sector Hyderabad, Aug 6 (KNN) National Fisheries Development Board (NFDB) under Ministry of Fisheries, Animal Husbandry & Dairying, Government of India has entered into a MoU with Punjab National Bank to extend financial assistance to the fisheries sector.

MoU was signed in the presence of NFDB Chief Executive Dr.Suvarna Chandrappagari, PNB MD and CEO, CH S S Mallikarjuna Rao, Executive Director (Infra) M Arul Bosco Prakash, PNB Zonal Head and General Manager Sanjeevan Nikhar and PNB Head Credit and Nodal In-charge (Hyderabad) Rajnish Kumar.

The Zonal Office in Hyderabad will be the Nodal Office for all the technically approved proposals received by NFDB across the country, the bank said in a statement on Thursday.

The Government created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) in 2018-19 and is being implemented with a total fund size of Rs 7522.48 crore comprising of Rs 5266.40 crore to be raised by Nodal Lending Entities (NLE), like NABARD, NCDC and all scheduled banks.

The eligible entities will be the state governments/Union Territories, Corporations/Undertakings/Government Sponsored, Supported Organizations, Fisheries Cooperative Federations (including FISHCOPFED etc.), Cooperatives, Collective groups of fish farmers and fish produce groups etc.

Panchayat Raj Institutions, Self Help Groups (SHGs) NGOs, SCs/STs/Marginal Farmers, Women & entrepreneurs, private companies, entrepreneurs and physically disabled are also eligible for the same.

FIDF will help in creation and modernization of infrastructure of capture and culture fisheries marine aquaculture, inland fisheries, reduce post-harvest losses and improve domestic marketing facilities and to bridge the resource gap and facilitate completion of ongoing infrastructure projects.

So far 67 projects have been approved in the country. 14 from the individual private entrepreneurs under FIDF and 53 under entrepreneur model of PMMSY scheme.

Speaking on the occasion, Dr. Suvarna, IFS Chief Executive, NFDB, said, “MoU with PNB will harness the untapped potential of Fisheries sector in tying up the individuals and private entrepreneurs of both FIDF and Entrepreneur Models under Pradhan Mantri Matsya Sampada Yojana (PMMSY) for availing Bank loan from PNB, pan India.”

“The dedicated loan centres will be collaborating with NFDB for Bank funding under FIDF &PMMSY schemes , remarked CH S S Mallikarjuna Rao, MD & CEO, PNB.