In a recent statement released on Tuesday, the National Bank for Agriculture and Rural Development (NABARD) made a clarifying announcement regarding its lending practices.
The apex development finance institution emphasized that it does not directly extend loans to individual farmers but rather provides financial assistance to various financial institutions and cooperatives involved in rural development.
The organization reiterated its core function, stating, "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 statement also highlighted the importance of vigilance among all stakeholders, especially farmers and rural entrepreneurs, urging them to exercise caution and refrain from believing or spreading misinformation.
NABARD emphasized the importance of seeking accurate information from credible sources. The official website of NABARD, NABARD - National Bank For Agriculture And Rural Development was pointed out as a reliable platform for obtaining accurate information.
Despite not directly extending loans to farmers, NABARD reaffirmed its commitment to promoting rural development and agriculture through a variety of initiatives and schemes aimed at fostering sustainable livelihoods.
In light of the prevalence of misinformation, NABARD called for the cooperation of all stakeholders in ensuring the dissemination of accurate information and discouraging the spread of falsehoods.
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