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This is the first incubation centre supported by the National Bank for Agriculture and Rural Development (NABARD) to be established within the premises of a business school in India.
The inauguration ceremony, which took place on Saturday, was attended by Tata Steel CEO and MD T. V. Narendran, who is the Chairman of the Board of Governors at the XLRI Jamshedpur campus, according to the official statement issued by the institute.
During his visit, the Chairman of the NABARD also attended another event at the Gaurdih LAMPS, where he launched the membership campaign and handed out sanction letters related to the e-Kisan Credit Card (e-KCC) scheme.
During his speech, the Chairman of the NABARD mentioned that although the Indian economy is growing steadily, rural development has to be taken to the next level. He emphasised the importance of the contribution of institutions such as PACS and FPOs in accelerating rural development. He explained that PACS and FPOs are essential in the development process, which would improve the availability of credit, encourage entrepreneurship and enhance the diversification of the rural economy in the fields of dairy, fisheries and MSME.
The Chairman of the NABARD also emphasised the importance of strengthening PACS as multi-service centers, increasing the availability of credit through cooperative networks, using digital technology such as e-PACS and e-KCC and increasing awareness at the grassroots level. He also observed the live demonstration of the usage of e-PACS by officials and the display of FPO products using blockchain technology.
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