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Monday, October 25, 2021
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NABARD signs MoU with Tata Trusts

NABARD signed Memorandum of Understanding with Sir Dorabji Tata Trust and Sir Ratan Tata Trust for promoting alternate livelihood for rural youth and upliftment of resource poor regions in India.

The MoU was signed by R Venkatraman, Executive Trustee, Sir Dorabji Tata Trust (SDTT) and P. Radhakrishnan, CGM, NABARD in the presence of Ratan Tata, Chairman, SDTT and Harsh Kumar Bhanwala, Chairman, NABARD at Taj Mahal Palace & Tower, Mumbai.

Also present on the occasion were R. Amalorpavanathan DMD of NABARD and A.N. Singh, Trustee, SDTT and the Allied Trusts.

Both these organisations will Design & launch sustainable pilot programme on Micro infrastructure, Intra-village infrastructure development with appropriate development products including credit and grant.

Speaking on the occasion Shri Ratan Tata said “With this MoU we will join hands with NABARD to work for the welfare of poor people across India and will help in evolving successful models of development. NABARD’s development intervention in Maoist-affected areas is a salute to the trust NABARD has created among rural people.”

Dr. Harsh Kumar Bhanwala, Chairman, NABARD said, “This is a milestone arrangement and will help in convergence of other corporate CSR activities to emulate such models. Joining of corporates will provide two way audits of the developmental works. The MoU also will help imbibe corporate empathy for development and improve ground level delivery”.

The salient features of MoU are that both these organization known for their development role will converge their resources in a more integrated way for upliftment of poor regions. The initial focus will be in resource poor regions like North Eastern Region, Chattisgarh, Madhya Pradesh, Jharkhand, Odisha, Rajasthan, etc.

NABARD has been in the forefront of implementation of several programmes with focus on conservation and optimal exploitation of natural resources for providing sustainable livelihood, employment generation, women empowerment, financial inclusion, etc. Presently 85 projects are under implementation under co-funding arrangements with 18 Foundations with a total financial commitment of over Rs. 97 crore of which the contribution of partnering Foundations is around 41%.

The Tata Trusts including Sir Dorabji Tata Trust are known for implementing and supporting various social and economic development projects across India.