What does PLDB mean in DEVELOPMENT


PLDB stands for Primary Land Development Banks, which are financial institutions in India that provide long-term loans to farmers for agricultural development purposes. PLDBs are established under the Regional Rural Banks Act, 1976.

PLDB

PLDB meaning in Development in Community

PLDB mostly used in an acronym Development in Category Community that means Primary Land Development Banks

Shorthand: PLDB,
Full Form: Primary Land Development Banks

For more information of "Primary Land Development Banks", see the section below.

» Community » Development

Role of PLDBs

  • Provide Long-Term Loans: PLDBs offer loans to farmers for various agricultural activities, such as purchasing land, constructing irrigation facilities, and implementing farm mechanization.
  • Promote Agricultural Development: By providing loans, PLDBs support farmers in enhancing their agricultural productivity, leading to increased crop yields and improved crop quality.
  • Reduce Rural Poverty: By enabling farmers to invest in their agricultural operations, PLDBs contribute to reducing rural poverty and improving the overall economic conditions in rural areas.
  • Enhance Rural Infrastructure: PLDBs also provide loans for the development of rural infrastructure, such as roads, bridges, and irrigation systems, which benefits the entire rural community.

Key Features of PLDBs

  • Long-Term Loans: PLDB loans typically have longer tenure periods of up to 15 years, allowing farmers to repay the loans gradually with the income generated from their agricultural activities.
  • Low Interest Rates: PLDBs offer loans at relatively low interest rates compared to commercial banks, making them more affordable for farmers.
  • Collateral-Free Loans: In some cases, PLDBs may provide collateral-free loans to small and marginal farmers who lack sufficient collateral.
  • Government Support: PLDBs receive financial and regulatory support from the Government of India, which ensures their stability and accessibility to farmers.

Essential Questions and Answers on Primary Land Development Banks in "COMMUNITY»DEVELOPMENT"

What are Primary Land Development Banks (PLDBs)?

PLDBs are specialized financial institutions established to provide long-term loans to farmers for the development of agriculture and allied activities. They play a crucial role in mobilizing financial resources for agricultural infrastructure, enhancing productivity, and improving the livelihoods of rural communities.

What are the primary functions of PLDBs?

PLDBs perform various functions, including:

  • Providing long-term loans for capital-intensive agriculture projects
  • Financing the development of land infrastructure, such as irrigation systems and farm machinery
  • Promoting sustainable farming practices and technology adoption
  • Offering advisory services to farmers on financial management, farm planning, and risk mitigation

What are the benefits of borrowing from PLDBs?

PLDBs offer several advantages to borrowers, such as:

  • Long repayment periods, often exceeding 10 years, to match the gestation period of agricultural projects
  • Lower interest rates compared to commercial banks
  • Flexible loan terms that consider the seasonal nature of agricultural income
  • Access to technical expertise and advisory services

Who can borrow from PLDBs?

PLDBs typically extend loans to eligible individuals and organizations involved in agricultural activities, including:

  • Individual farmers and farmer groups
  • Agricultural cooperatives and self-help groups
  • Agribusiness companies and agro-processing units
  • Non-governmental organizations and research institutions

How do I apply for a loan from a PLDB?

The application process for a PLDB loan may vary depending on the specific institution. However, common steps include:

  • Contacting the nearest PLDB branch or office
  • Submitting a loan application with supporting documents
  • Undergoing a loan appraisal process that evaluates the project's feasibility and the borrower's repayment capacity
  • Signing a loan agreement if the application is approved

Final Words: PLDBs play a vital role in supporting agricultural development and reducing rural poverty in India. By providing long-term loans, promoting agricultural innovation, and enhancing rural infrastructure, PLDBs contribute to the overall economic growth and well-being of rural communities.

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