Excelsior Correspondent
JAMMU, Jan 17: The National Bank for Agriculture and Rural Development (NABARD) has been instrumental in advancing financial inclusion across the Union Territory of Jammu & Kashmir, focusing on vulnerable and low-income groups such as tribal families, farmers’ producer groups, self-help groups, and others. Through a range of developmental grants and programs, NABARD has enabled these communities to achieve greater financial independence.
NABARD’s flagship initiatives like the Farmers Club (Vikas Volunteers Vahini), SHG Bank Linkage Programme, Kisan Credit Card Scheme, and Joint Liability Groups (JLGs) have played a key role in enhancing credit access and promoting a sound credit culture in rural areas. Since 2007-08, NABARD has collaborated with local banks to make financial services more accessible to all.
In Jammu & Kashmir, NABARD has prioritized financial literacy and digital awareness. Over 16,000 Financial and Digital Literacy Camps (FiDgi) have been conducted, benefitting around 4 lakh rural individuals by educating them about Government schemes, banking services, and safe digital practices. NABARD has also supported the installation of more than 12,000 POS and mPOS machines to facilitate cashless transactions in remote areas.
Additionally, NABARD has launched mobile vans and 48 Centers for Financial Literacy (CFLs) to reach underserved areas and promote financial education. It has also funded the installation of 289 solar-powered banking units and helped banks adopt modern Core Banking Systems (CBS) for seamless digital services. These efforts have significantly improved financial access and literacy, fostering economic growth in rural Jammu & Kashmir.
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