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NABARD
Nabard on Monday projected a 25 per cent surge in priority sector lending in Maharashtra in FY24 to help agriculturists, small businesses and other marginalised sections of society. In the annual 'state credit seminar' held in the presence of Chief Minister Eknath Shinde, the National Bank for Agriculture and Rural Development launched the 'state focus paper' detailing a comprehensive credit potential of Rs 6,34,058 crore for priority sector in the state, according to an official statement. The projections include a credit flow of Rs 1,56,873 crore to the farm sector and Rs 3,54,854 crore to micro, small and medium enterprises, the statement said. Speaking at the seminar which was also attended by his deputy Devendra Fadanvis, bureaucrats, bankers and officials from the RBI, Shinde advised the banks to ensure maximum hassle-free credit flow to farmers as envisaged in the potential credit plan and address regional imbalances. There is a need for financing of agri-infrastructure and
Shaji K V has taken the charge as Chairman of National Bank for Agriculture and Rural Development (NABARD) with effect from December 7, 2022, the government on Monday informed Parliament. He has taken over from Suchindra Misra, Additional Secretary, Department of Financial Services, Ministry of Finance, who was holding additional charge, Minister of State for Finance Bhagwat Karad said in a written reply to the Lok Sabha. Further, Karad said there are two board level vacancies in the organisation while 514 vacancies are at the group A level. Replying to a question, the minister said more than 12 lakh loans have been extended by public sector banks in rural areas across the country for setting up business, after the Covid period, that is, from April, 2020 to November, 2022. It has been conveyed by the RBI that they have received 1,230 complaints under RBI Ombudsman pertaining to 'Delay in loan sanction/disbursement or non-observance of prescribed time schedule for disposal of loan .
The boards of individual banks can decide on waiving the penalty on accounts, which do not maintain a minimum balance, Union Minister of State for Finance Bhagwant Kishanrao Karad on Wednesday said. "Banks are independent bodies. They have boards which can take a decision to waive off the penalty," Karad told reporters here. The minister was responding to a question if the Centre would consider directing banks not to charge any penalty from the accounts where the balance falls below the prescribed minimum levels. Karad was on a two-day visit to Jammu and Kashmir to review the implementation of various financial schemes in the Union Territory. The minister said the banks in Jammu and Kashmir had done a good job over the years and directed them to improve their performance on those parameters where they are lagging behind the national average. "I have told the banks in Jammu and Kashmir to hold Saturday camps to bring the percentage of Jan Dhan Yojana accounts closer to the national
The Financial Services Institutions Bureau (FSIB) on Wednesday recommended Mohammad Mustafa as the Chairman of NABARD. "After interfacing with 15 candidates on August 16-17, 2022, the bureau recommends Mohammad Mustafa for the position of Chairman in National Bank for Agriculture and Rural Development (NABARD)," FSIB said in a statement. The final decision on the recommendation of FSIB would be taken by the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi. Mustafa, a 1995 batch IAS officer of the Uttar Pradesh cadre, served as the Chairman and Managing Director (CMD) of Small Industries Development Bank of India. Earlier, he had served as a Joint Secretary in the Department of Financial Services and also as a Director. He had also served as CMD of National Housing Bank between 2014-15 and as MD of CERSAI in 2016. NABARD is the apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India.