Nabard Cautions Against Misinformation; Says It Doesn't Directly Extend Loans To Individual Farmers
Nabard clarified that it does not directly provide loans to individual farmers but offers financial support to rural development institutions and cooperatives.
National Bank for Agriculture and Rural Development clarified that it does not extend loans directly to individual farmers through a statement on Tuesday. It, however, extends financial assistance to various financial institutions and cooperatives involved in rural development.
"Nabard, as an apex development finance institution, functions by extending financial assistance and support to various financial institutions and cooperatives involved in rural development. It does not extend loans directly to individual farmers," the organisation said in a statement.
All stakeholders are strongly urged, particularly farmers and rural entrepreneurs, to exercise utmost caution and refrain from believing or propagating such misinformation, it added.
Unverified information can lead to financial risks and misunderstandings, and accurate information can be obtained from Nabard's official website www.nabard.org, it said.
Nabard remains steadfast in its commitment to promoting rural development and agriculture through various initiatives and schemes, aimed at fostering sustainable livelihoods.
Hence, the cooperation of all stakeholders is solicited in ensuring the dissemination of accurate information and discouraging the spread of misinformation, it said.
For further clarification or inquiries, contact NABARD directly or visit our nearest office, it added.