Consider the following statements about Small Farmers' Agribusiness Consortium (SFAC):

  1. It promotes private investment in setting up of agribusiness projects 
  2. It has provision for venture capital support to farmers or farmer producer organizations

   Which of the above statements is/are correct?

Answer: [C] Both 1 & 2

Small Farmers' Agribusiness Consortium (SFAC) assists setting up of agribusiness ventures in close association with banks. It promotes private investment in setting up of agribusiness projects. It has provision for venture capital support to farmers or farmer producer organizations. Recently, the National Bank of Agriculture and Rural Development (Nabard) and the Small Farmers’ Agribusiness Consortium (SFAC) have signed a memorandum of understanding (MoU) to jointly implement schemes for the promotion of farm producer organisations (FPOs). Nabard will leverage the benefits of the equity grant and credit guarantee fund for FPOs set up by SFAC to ensure that finance for producer companies flows smoothly.

This question is a part of GKToday's Integrated IAS General Studies Module