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NFDB inks MoU with PNB to extend Financial Assistance to Fisheries sector

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NFDB inks MoU with PNB to extend financial assistanceNational Fisheries Development Board (NFDB) has signed a MoU with Punjab National Bank to extend financial assistance to the fisheries sector through the bank’s 10,641 branches, 13,781 delivery channels and 12,518 Business Correspondents.

  • The PNB’s Hyderabad Zonal Office will be the nodal office for all the technically approved proposals received by NFDB across the country.


The MoU was signed by M Arul Bosco Prakash, Executive Director (Infra), NFDB, and Sanjeevan Nikhar, General Manager (GM) and Zonal Head, PNB, Hyderabad in the presence of Dr. Suvarna Chandrappagari, Chief Executive, NFDB; and CHSS Mallikarjuna Rao, Managing Director (MD) and Chief Executive Officer (CEO), PNB in Hyderabad, Telangana.

Key Points:

i.Under this MoU, the fisheries sector will tie-up with individuals/private entrepreneurs of Fisheries and Aquaculture Infrastructure Development Fund (FIDF) and Entrepreneur Models under Pradhan Mantri Matsya Sampada Yojana (PMMSY) for availing bank loan from PNB, pan-India.

ii.FIDF- The government created FIDF in FY19 and is being implemented with a total fund size of Rs 7,522.48 crore comprising Rs 5,266.40 crore to be raised by Nodal Lending Entities (NLE), like NABARD (National Bank for Agriculture and Rural Development), NCDC (National Cooperative Development Corporation) & all scheduled banks.

iii.PMMSY It is a flagship scheme launched in September 2020 for sustainable development of Indian fisheries sector with an estimated investment of Rs. 20,050 crores.

  • It will be implemented in all the States and Union Territories (UTs) for 5 years from FY 2020-21 to FY 2024-25.

Mallikarjuna Rao inaugurated PNB@Ease outlet in Hyderabad

Mallikarjuna Rao also inaugurated PNB@Ease outlet (EASE Banking Outlet) at Aditya Enclave, near Ameerpet Metro Station in Hyderabad.

  • PNB@Ease outlet consists of 5 Kioskse. ATM (Automated teller machine), Bunch Note Acceptor, Account opening Kiosk, Card issuance Kiosk and Internet enabled Kiosk.
  • It provides One Stop Experience to the customers in availing banking and financial services without visiting the branch.

Recent Related News:

On July 10, 2021, NFDB virtually celebrated the 21st National Fish Farmers’ Day. The day is also observed as the NFDB Foundation Day. 2021 marks the 15th NFDB foundation day.

About National Fisheries Development Board (NFDB):

Establishment– 2006
Parent Ministry– Ministry of Fisheries, Animal Husbandry and Dairying
Headquarter– Hyderabad, Telangana

About Punjab National Bank (PNB):

Establishment– 1895
Amalgamated Banks in PNB– Oriental Bank of Commerce (OBC) and United Bank of India (UBI)
Tagline– The name you can bank upon