The floating of the Nagapattinam District Fishermen Sangam Federation in the south Indian state of Tamil Nadu a body of fishermen and fisherwomen by the National Bank for Agriculture and Rural Development (NABARD) — has helped fishermen escape from the clutches of money-lenders.
The viability of the federation can be gauged from the fact that the NABARD had sanctioned the second loan of Rs. 1 crore to the federation this year, based on their cent per cent and prompt re-payment of an equal loan released last year, said D. Ganesh, District Development Manager, NABARD, Nagapattinam, which has sanctioned the loan.
Talking to The Hindu on the sidelines of the financial literacy awareness programme organised at Sirkali in Nagapattinam district near here on Friday, he said the federation comprised 27 groups of fishermen and fisherwomen of Nagapattinam and Karaikal districts with a membership strength ranging between 60 and 80 in each group.
Fishermen were often trapped in debt while meeting expenses such as repairing their boats and purchase of nets or engines. The money-lenders in Nagapattinam and Karaikal districts were exploiting them. But the constitution of the federation has checked the exploitation to a great extent, he said.
Company planned
Based on the prompt repayment of loans by fishermen and fisherwomen, the federation has planned to float a fishermen producers company. The NABARD would also extend adequate support to the company, he said.
Earlier, G. Rajendraprasad, Joint Registrar of Cooperatives, spoke on the importance of financial inclusion.
R. Sivaramakrishhan, Lead District Manager, S. Lakshminarasimhan and Marimuthu, both bank officials, offered felicitations.
In all, 45 customers submitted papers for various Centrally-sponsored pension and insurance schemes on the occasion. The programme was organised to mark the anniversary of NABARD.
2015, The Hindu