Important Definitions related to SFAC

BANK

Bank means a Scheduled Commercial Bank included in the Second Schedule to the Reserve Bank of India Act, 1934, Regional Rural Banks or any other Institution(s) as may be directed by the Board of SFAC or Ministry of Agriculture, Government of India(GoI) from time to time;

BOARD

Board means any form of Governing Body of the FPC such as Board of Directors;

EQUITY

Equity means the amount of share capital contributed by the Shareholder Members (farmer producers/ institutions of farmer producers) of FPC;

EGF

EGF means Equity Grant Fund created at SFAC, for providing Equity Grant to FPCs;

FARMER

Farmer means any individual engaged in Agriculture and allied activities

FARMER INTEREST GROUP

Farmer Interest Group means an informal group of farmers formed with the objective of improving farm and farming value added
activities, working for mutual benefit of the group and governed by a common set of rules;

FARMER PRODUCER COMPANY

Farmer Producer Companies (FPC) means a company of Farmer Producer Members as defined in section IXA of the Indian Companies Act, 1956 (including any amendments thereto or re-enactment thereof) and incorporated with the Registrar of Companies (RoC).
Other categories of farmer producer organizations (such as cooperatives) may be considered for inclusion at a later stage.

JOINT LIABILITY GROUP

Joint Liability Group means Joint Liability Group of farmer producer members as defined by NABARD

SELF HELP GROUP

Self Help Group means Self Help Group of farmer producer members as defined by NABARD

SHAREHOLDER

Shareholder is a shareholder member of FPC on the date of its application for Equity Grant under
the EGCGFS