Initiating a transformative endeavor in Belgaum, the National Bank for Agriculture and Rural Development (NABARD), along with Deshpande Foundation and Karnataka Vikas Grameena Bank (KVGB), collaborates to enhance agricultural infrastructure in northern Karnataka. They have entered into a memorandum of understanding (MoU), outlining plans for the construction of farm ponds in Belgaum and Gadag districts through the establishment and credit linkage of joint liability groups (JLGs).
Under the terms of the MoU, Deshpande Foundation will play a pivotal role in forming JLGs and overseeing the construction of farm ponds, while NABARD will provide crucial incentives to support and establish these groups. KVGB, in turn, will extend institutional financial support to JLGs, facilitating the development of agricultural ponds.
Shreekant M Bhandiwad, Chairman of KVGB, emphasized the strategic initiative to encourage farmers to opt for farm ponds as a protective measure for their crops. This concerted effort not only safeguards agricultural produce but also serves as a catalyst for farmers to diversify into cultivating vegetable crops.
