Gangtok, January 2024: The Hon’ble Finance Minister, Government of India, Smt. Nirmala
Sitharaman, handed over/announced the sanction worth of Rs 52.87 crore of funds for
developmental initiatives by NABARD to boost rural development during her visit to Sikkim for
Credit Outreach Programme on January 6, 2024. The noteworthy initiatives included support for
rural connectivity (Rs 50.71 crore), a grant of Rs 1.29 crore for livelihood support to tribal
households, Rs 28.28 lakh for ongoing orchard-based livelihood intervention, Rs 22.79 lakhs for
Springshed development intervention aiming to rejuvenate 12 identified springs crucial for the
water supply to 850 families, a grant assistance of Rs 34.50 lakh to Sikkim State Cooperative Bank
Ltd. (SISCO) for financial inclusion initiatives, including conducting 200 Financial Literacy camps
and providing 100 micro-ATMs to identified Milk Cooperative Societies. Esteemed key dignitaries,
including Shri Prem Singh Tamang, Hon’ble Chief Minister of Sikkim; Shri Vivek Joshi, Secretary,
DFS, Government of India; and Shri Shaji K.V., Chairman of NABARD were present during the
event. The Hon’ble Finance Minister also acknowledged the immense potential for Sikkim to grow
and the crucial role of banking and development & refinancing institutions like NABARD, in
rebuilding the state after the flash floods.
NABARD organized an interaction program with a group of FPOs in the state with Dr. Vivek Joshi,
Secretary, DFS, Government of India on January 7, 2024 at Namchi. Dr. Joshi was accompanied by
Shri Shaji K.V., Chairman of NABARD and Shri P K Goyal, Joint Secretary, DFS, Government of
India. FPO members represented four FPOs, namely Sankhu Radhu Khandu Farmers Organic
Producer Cooperative Society Ltd from Gyalshing district, along with Bermiok Tokal Farmer
Producer’s Cooperative Society Ltd., Passi Farmer Producer’s Cooperative Society Ltd., and
Gangchung Farmer Producer’s Cooperative Society Ltd. from Namchi district. The Secretary DFS
interacted with the FPO representatives at length and deliberated on their set of activities, the role,
and the benefits that this aggregation of farmers into FPOs had brought to the individual farmers.
He also expressed that this interaction greatly helped to understand the ground realities of the
FPOs’ activities, spread of credit and other Banking activities in far-flung areas and urged banks to
expedite the process of credit disbursements. He advised stakeholders to orient their activities
actively towards the small, marginal and dairy farmers in view of their significance to the economy.
Shri Shaji K.V., Chairman, NABARD, in his address, highlighted the priority of NABARD in
strengthening cooperatives. He stated, “NABARD has continued its efforts to support FPOs
presently under the umbrella of Cooperatives.” He further stressed the need for strengthening the
value chain of agricultural commodities via such FPOs. “The convergence of funding support
reflects NABARD’s dedication to strengthen the agricultural value chain. Notably, in Sikkim, where
every FPO is registered under the Cooperative Societies Act, we take pride in supporting these
entities directly from our own financial resources. The successful transition of all MPCSs to the ‘go
live trial’ stage in PACS computerization project marks a pioneering achievement. We appreciate
the FPOs for providing valuable insights, ensuring our interventions align with ground-level
reality,” he added.
