Banks, Piggybanks, blood banks are common but have you ever heard of a Goat Bank…?
This is the story of Sangavi Mohadi village of Akola district in Maharashtra. Here a farmer has launched “Goat Bank of Karkheda”.
Who Started This Goat Bank and When?
After studying the families involved in goat rearing, 52-year-old Naresh Deshmukh, a graduate of Punjab Rao Krishi Vidyapeeth launched the goat bank in 2018. Deshmukh took this decision to organize this sector and make it available for loan schemes as well as for deposit of goats.
He invested Rs. 40 lakhs from his savings and bought 340 full-grown goats. Afterwards, 340 goat breeding families were registered and all of the goats were distributed among them.
How does it work?
To avail the loan interested farmer has to make a loan agreement by paying a registration fee of Rs. 1,200. According to the agreement and loan conditions, each person availing a goat has to return 4 lambs within the time duration of 40 months.
It has been estimated that each woman using the goat under this scheme will make a profit of around 2.5 lakhs.
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