FOR IMMEDIATE RELEASE
January 11, 2019
SARD, DOF announces the launch of a new loan product
Dharamsala, January 11, 2019: Social and Resource Development Fund (SARD), Department of Finance today announced a new Summer Livelihood Support Programme to be rolled out in 2019. The summer Livelihood Support program is to support the community members whose major business activity is in the summer season. The size and number of summer businesses are smaller than the winter sweater Sellers, but the summer business segment is more organized. A recent survey undertaken by SARD revealed there are over 35 well-established summer retail markets all over India with 1594 shops. Based on the selection criteria, SARD selected 13 markets for the inaugural Summer Livelihood Support Programme. Approximately 600 Tibetans are going to benefit from this programme.
In this connection, DOF also announced that Gang-jong Development Finance Pvt. Ltd (“TibFin”), which is set up as an exclusive and specialised financial institution for Tibetans in India, received license from the RBI on December 13, 2018, as a Non-Banking Financial Institution and is now getting ready for full-scale business operations.
Department of Finance,