Sign In
Learn bits
Schemes & Policies
Mahesh

21/07/23 06:42 AM IST

First ever “Credit Guarantee Scheme” for Livestock Sector

In News
  • Department of Animal Husbandry & Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying recently announced the launch of a new credit guarantee scheme.
About the scheme
  • The scheme aims to strengthen the credit delivery system and ensure smooth access to finance for entrepreneurs engaged in the Livestock sector.
  • The main objective is to encourage lenders to focus on the viability of projects and provide credit facilities based on the primary security of the assets being financed.
  • By providing access to financial assistance, it promotes investments in various areas of the livestock sector, such as dairy and meat processing, animal feed plants, breed improvement technology, waste management, and veterinary vaccine and drug manufacturing facilities.
  • With this scheme, the participation of MSMEs in the Livestock sector is expected to increase, leading to improved credit flow and bolstering the overall rural economy.
  • One of the key features of the AHIDF scheme is the establishment of a Credit Guarantee Fund Trust of Rs. 750.00 Crores.
  • DAHD has formed a trust with NABSanrakshan Trustee Company Private Limited, a wholly owned subsidiary of NABARD for the establishment of a Credit Guarantee Fund Trust for extending the credit guarantee to Micro, Small & Medium Enterprises under AHIDF scheme.
Key Features of AHIDF scheme
  • Interest Subvention of 3%
  • loan up to 90% of the total project cost from any Scheduled Bank, National Cooperative Development Corporation (NCDC).
Source- PIB

More Related Current Affairs View All

20 Jan

ILO report about international migrants

'International migrants reached 284.5 million, 255.7 million of them belong to the global working-age population (aged 15 and over).' International migrants are defined as perso

Read More

20 Jan

World Economic Forum

'The World Economic Forum (WEF) is holding its Annual Meeting from January 20 to 24 in Davos, Switzerland.' Attendees will include European Commission President Ursula von der L

Read More

20 Jan

SVAMITVA scheme

'Prime Minister Narendra Modi said once property cards under the Centre’s SVAMITVA scheme have been distributed in all the villages of the country, it could unlock economic a

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps