NABARD and RBI Enhance Rural Financial Literacy and Microfinance Regulations

The National Bank for Agriculture and Rural Development (NABARD) and the Reserve Bank of India (RBI) have launched initiatives to promote financial literacy among rural populations, establishing 2,421 Financial Literacy Centres (FLCs) nationwide. The definition of microfinance loans has been simplified, easing restrictions on loan amounts and terms. Additionally, measures have been implemented to protect borrowers from over-indebtedness, including capping loan repayments at 50% of monthly income and regulating interest rates. Sa-Dhan and MFIN have been established to strengthen compliance and limit borrower indebtedness in the microfinance sector.

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APEDA Launches First Sea Shipment of Botanical-Infused Millet Foods to New Zealand

The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the maiden sea shipment of botanical-infused, ready-to-cook millet functional foods from Karnataka to New Zealand. This milestone underscores the expanding opportunities for India's millet-based agricultural exports, bolstered by participation in APEDA-supported international trade fairs. Source: Original Link