ABP | NABARD | MRB | Tripartite Agreement for Formation, Nurturing & Financing of 100 JLGs

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A tripartite agreement has been signed between Angel Business Promoters, Mizoram Rural Bank Head Office and NABARD for formation of 100 JLG within four districts of Mizoram. As per this agreement, Angel Business Promoters of Mizoram will form 100 JLGs in accordance with their proposal accepted by the bank within three years from the date of the agreement. 

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Joint Liability Groups (JLGs) are formed by rural banks to provide financial services to underserved rural communities. JLGs consist of small-scale borrowers who mutually guarantee each other's loans, sharing collective responsibility for repayment.

 

This group-based lending approach enhances credit access for rural entrepreneurs and promotes financial inclusion in agricultural and rural sectors.

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Duration of Project - 03 year (February 2022 - February 2025)

Total Project Cost - Rs. 4,00,000/- (Rupees Four Lakhs only)