Bengal FPOs get corporate structure to avail of more fund

Updated: Dec 8 2022 8:04PM

Kolkata, Dec 8 (PTI) Many farmer producer organisations (FPOs) in West Bengal, which mostly had an entity structure like trust and cooperative society, have been converted into companies to get fund from central schemes and formal credit, a senior official said on Thursday.

An FPO is a registered farming organisation, and its members are primary producers of agricultural products. Several government benefits are provided exclusively to these organisations, which are otherwise not available to any individual farmer.

"There are around 353 FPOs in the state. These organisations in Bengal were mostly in a structure of trust or cooperative but are now being converted to companies with help of the state government," said a senior official of National Bank for Agriculture and Rural Development on condition of anonymity.