National Seminaron Agricultural Credit Silver Jubilee Celebrations NABARD 25 YEARS OF DEDICATION TO RURAL PROSPERITY NABARD completed 25 years of its eventful and trailblazing existence on 12 July 2007. Established in 1982, by an Act ofParliament, NABARD's mandate was to provide focused and undivided attention to the development of rural India by facilitating credit flow for promotion of agriculture and rural non farm sector. Emphasizing this in no uncertain terms, its mission statement underscores NABARD's goal to "promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives". NABARD's functions can be classified into 4 major categories viz. Credit Planning, Financial Services, Promotion and Development, and Supervision . Under Credit Planning NABARD prepares Potential Linked Credit Plan (PLP) annually for each district of the country by assessing potential available in agriculture a nd rural sector. This serves as a guide for banks and Government agencies to prepare their own investment and credit plans in the district and state. Under its Fina ncial services, it refinances commercial, co-operative and regional rural banks for lending to on farm and non-farm activities. This includes farm activities like minor irrigation, animal husbandry, farm mechanization, forestry, fisheries, land developmen t, horticul ture, plantation and medicinal crops and non-farm like rural industries, artisans, handicrafts, handlooms , rural housing, rural tourism and a gro processing . Refina nce is provided by NABARD for both long ter m investment credit as well as short term production credit for crop loans and working capital for non-farm activities. A nationwide network of28 regional offices at the state capitals, a sub-office at Port Blair and 391 district development offices are at hand to cater to this awesome
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o Assistance is given to the BC in furnishing necessary
information. All photocopies are verified with originals.
o The District Office forwards the application, if
recommended, in the prescribed format to Head Office.
o An officer from HO visits the NGO for assessment. S/he
visits both the office and also a few SHGs promoted by theNGO (which are selected randomly). S/he reviews the
assessment of the NGO made by the District staff
o A Committee comprising Chairperson and Managing
Director approves the NGO proposed to be empanelled as
BC. All three reports (FSO, DM & HO representative) are
placed before the Committee to take a decision.
o The Committee also recommends the exposure limit which
is reviewed on an annual basis.
o After approval from HO, the authorised signatories of the
NGO/BC visit HO for execution of agreement; they also
interact with senior staff.
o
As a BC, the NGO submits a DD/cheque for Rs. 50,000/- assecurity deposit at the time of executing the agreement.
This is a requirement of the RBI. The amount of security
deposit may change and is decided by the committee based
on the total exposure as well as on the duration of the cash
exposure that the BC has from the time the repayment is
collected to the time it is credited to NABFINS account.
y Assessment of Groups: There are three steps to assess a group:
Step 1: A Survey Sheet is given to all the members of the
group to capture their family incomes and liabilities.
NABFINS believes that the loan to an individual member of
the group is loan to a family and thus the income and liabilityof the family is assessed. Individual members of the groups,
with or without, the assistance of the NGO staff fill up the
survey sheet. The group discusses the individual survey sheet
of all the members in the group meeting. Then the requirement
of the loan is discussed within the group factoring the incomes
and liabilities of the individual members of the group. The BC
staff collect the consolidated demand of the group and
recommend (or not) the group to NABFINS for lending. Step
2: Meeting 1: In this meeting the District Manager along withthe FSO read out to the group the information on the survey
sheet and the details of the loan that the group/ individual
members have applied for. The FSO/DM along with the BCrepresentative validates the survey sheet and loan requirementsin this meeting. The group is graded (on the basis of a grading
sheet) on financial and non financial parameters. The group hasto qualify in both the segments separately. After discussion
with the SHG along with BC staff and FSO/DM, the loan
amount is arrived at. The District Manager recommends the
loan for the group in a specific format containing details of the
group like corpus of the group, previous loan status etc and
The Eagle Star Insurance Company plc (formerly Eagle Star Insurance Company Limited)
was a leading British insurance business. It underwrote the full range of risks, including fire,accident, marine, motor, life, contingency and Pluvius (weather) insurance. It was listed on
the London Stock Exchange and was a constituent of the FTSE 100 Index.
[edit ] History
The Company was founded by Edward Mountain in 1904 as the British Dominions Marine
Insurance Company, which operated as a marine insurance office in the five principaloverseas Dominions.
[1]It started writing fire and accident policies in 1911 and life assurance
policies in 1916.[1]
It expanded rapidly in its early years acquiring the Eagle (founded by Sir William Rawlins in
1807) in 1916 and both the Sceptre (founded in 1864) and the Star (founded in 1843) in
1917.[1]
It was renamed the Eagle Star & British Dominions in 1917 and Eagle Star in
1937.[1]
(The story surrounding the final renaming is that Sir Edward Mountain's son Brian
was in the USA promoting company business. Having given the name of his firm to an
American businessman, the American is said to have replied, "Are you trying to sing a song,or sell insurance?" The company's name was swiftly changed!)
For many years its Head Office was at the rather prestigious address of 1 Threadneedle
Street, London EC2. However, a new administrative head office and computer centre wasopened in Cheltenham in October 1968.
[1]
In 1981 it fought off a takeover bid from Allianz, the German insurance Group.[2]
It was acquired by BAT Industries for £968m in 1984.[1]
It is now one of the insurance brandsowned by Zurich Financial Services although its active use has now been discontinued.