National Fisheries Development Board (NFDB), under Ministry of Fisheries, Animal Husbandry & Dairying, Government of India has today entered into an MoU with Punjab National Bank, the premier Bank in the country, to extend financial assistance through the Bank.

The Government created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) in 2018-19 and is being implemented with a total fund size of Rs 7522.48 Crs comprising of Rs 5266.40 crore to be raised by Nodal Lending Entities (NLE), like NABARD, NCDC & all scheduled banks.

The eligible entities will be the State Governments / Union Territories, Corporations/Undertakings/Govt. Sponsored, Supported Organizations, Fisheries Cooperative Federations (including FISHCOPFED etc.), Cooperatives, Collective groups of fish farmers & fish produce groups etc. Panchayat Raj Institutions/Self Help Groups (SHGs)/ NGOs, SCs/STs/Marginal Farmers, Women & entrepreneurs, Self Help Groups, Private companies/entrepreneurs and Physically disabled.

FIDF will help in creation and modernization of Infrastructure of capture & culture fisheries Marine Aquaculture, Inland Fisheries, Reduce post-harvest losses and improve domestic marketing facilities and to bridge the resource gap and facilitate completion of ongoing infrastructure projects.  So far 67 projects have been approved in the country. 14 from the individual/ private entrepreneurs under FIDF and 53 under Entrepreneur model of PMMSY scheme.

Speaking on the occasion, Dr (Smt) Suvarna, IFS Chief Executive, NFDB, said, “MoU with PNB will harness the untapped potential of Fisheries sector in tying up the individuals/Private Entrepreneurs of both FIDF and Entrepreneur Models under Pradhan Mantri Matsya Sampada Yojana (PMMSY) for availing Bank loan from PNB, pan India.”

PNB has been presented with NABARD Award and adjudged as the “best public sector bank” in the country for its outstanding performance in the field of agriculture credit, microfinance, financial inclusion and technology adoption.

“PNB with 10641 branches 13781 delivery channels and 12518 Business Correspondents,116 Loan processing centres of Retail, Agrl, & MSME loans and 137 Loan processing centres for Mid Corporate Credit including MSME loans for quick-processing. These dedicated loan Centres will be collaborating with NFDB for Bank funding under FIDF &PMMSY Schemes,” remarked CH SS Mallikarjuna Rao, MD & CEO, PNB.

The Zonal Office Hyderabad will be the Nodal Office for all the technically approved proposals received by NFDB across the country.