NFDB signs pact with Punjab National Bank

Hyderabad: National Fisheries Development Board (NFDB) has signed an MoU with Punjab National Bank to extend financial lending through the bank.

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

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 7,522 crore comprising Rs 5,266 crore to be raised by Nodal Lending Entities (NLE), such as NABARD, NCDC and all scheduled banks.

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