Nabard

Nabard projects 25% jump in priority sector loans in Maha at Rs 6.34 trn

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

Cabinet okays plan to set up 200K primary agri co-ops in next five years

The plan according to an official statement will be implemented by converging various schemes of the government in the spirit of 'whole of government approach'

NABARD aims to raise Rs 3000-5000 cr in debut green bond issue: Report

Currently, NABARD is getting necessary certifications and approvals to comply with the market regulators' guidelines on green debt issuance, a company official said

Shaji K V took charge as NABARD Chairman from Dec 7: Govt in Parliament

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 .

Bank boards can decide on waiving penalty on minimum balance: Karad

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

NABARD sanctions Rs 220 cr to Odisha govt for flood protection projects

NABARD has sanctioned the fund for construction of 57 flood protection projects and one bridge at a rural area

Bengal farmer earns 3 times less than Punjab counterpart: NABARD report

A recent report titled "Farmers' Welfare: An analysis across states of India," by the National Bank for Agriculture & Rural Development (NABARD) has pointed out that West Bengal's farming sector is lagging behind other states on two crucial counts.

Financial Services Bureau recommends Mohammad Mustafa as NABARD Chairman

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.

India at 75: A journey from growing more food to smartly growing it

Unless policies are pursued to address all the problems facing Indian agriculture holistically, the sector would find it difficult to meet the challenges of a new India

Centre asks IBA to ready EASE-like plan for regional rural banks

The banks' lobby group has been asked to assist with the preparation of the viability plan for RRBs

Govt allots Rs 2,516 cr for computerisation of primary agri co-op societies

The model bylaws will enable PACS to offer economic activities other than credit which includes developing cold-storage facilities in villages, running PDS shops and locker facilities for depositors

A Vyapar Credit Card for MSMEs

Government data indicates that less than 40 per cent of MSMEs borrow from the formal financial system

NABARD to raise Rs 3.5 trn in FY23; bond issuance seen at Rs 45,000 cr

Nabard will work on a viability plan for 22 regional rural banks in the next six months to address issues of capital adequacy, business growth and human resources

NABARD pegs Odisha's credit potential for 2022-23 at Rs 1.34 trillion

The National Bank for Agriculture and Rural Development (NABARD) has projected Odisha's credit potential for the financial year 2022-23 at Rs 1,34,665 crore, officials said here on Tuesday.

Eggoz raises $3.5 mn in Series A funding round led by NABVENTURES

With this funding, Eggoz intends to increase its brand footprint, launch egg-based value-added products, and enter new geographies.

ESAF join hands with NABARD for local economic development in Kerala

The bank has launched a local Sustainable Economic Development Training Programme

AU SFB, NABARD ink MoU for development initiatives in Rajasthan

AU Small Finance Bank (SFB) on Wednesday said it has inked an MoU with NABARD for rural development initiatives in Rajasthan

Nabard chief stresses on strengthening IT infra of cooperative banks

Strengthening of IT infra of cooperative banks, enhancement of agriculture term loans and diversification of credit portfolio are important factors to make them sustainable on a long term basis

Nabard's loans rise 25.2% to reach Rs 6 trn in FY21: Annual report

The total loans and advances extended by NABARD during 2020-21 registered a growth of 25.2 per cent year-on-year to reach Rs 6 trillion

DMK govt lines up sops in Tamil Nadu's first exclusive farm budget

State may see highest disbursals of crop loans of Rs 1.45 trillion through NABARD