Nabard profit up 13 pc to Rs 2,501 crore in FY16

Development financial institution Nabard today reported a 13 per cent jump in profit after tax (PAT) at Rs 2,501 crore in 2015-16 on increased rural infrastructure development fund (RIDF) disbursements and higher term lending.
In the previous fiscal, its PAT stood at Rs 2,403 crore.
"Nabard is very sound institution and we are the only institution in the developmental banking space to cross balance sheet size of Rs 3 lakh crore," Nabard Chairman Harsh Kumar Bhanwala told reporters here today.
He said the profit improved on account to higher RIDF disbursements and term lending which resulted in increase in credit demand and capital formation in agriculture sector.

It's balance sheet grew by 15 per cent to Rs 3,10,382 crore in 2015-16 as against Rs 2,85,809 crore.
Loans and advances stood at Rs 2,65,361 crore in the year ended March 31, up 12 per cent from Rs 2,52,369 crore.

The long term refinance disbursement grew at record 53 per cent to Rs 48,044 crore from Rs 31,427 crore in the previous year.
It's refinance to NBFC-MFI segment touched Rs 3,000 crore in the year from Rs 330 crore in 2014-15.
During the year RIDF disbursements registered a 20 per cent growth at Rs 23,507 crore from Rs 19,667 crore.

The development financial institution started financing to new areas such as rural infrastructure, financing federations, co-operative banks, food processing, warehouses out of its own resources.
"Total outstanding loans to these areas have touched Rs 14,106 crore registering 24 per cent growth over the previous year Rs 11,377 crore," Bhanwala added.
Disbursements under Warehouse Infrastructure Fund (WIF) increased to Rs 1,046 crore during 2015-16 from Rs 738 crore in 2014-15.
It raised Rs 38,000 crore through market in 2015-16 and will be looking at raising Rs 50,000 crore in this fiscal.
In 2016-17, Nabard will be focusing on financing irrigation projects, digitisation of self help groups and risk mitigation under climate change.

"We have provided considerable policy inputs which resulted in the creation of Long Term Irrigation Fund in Nabard with an initial corpus of about Rs 20,000 crore," he said.
Nabard is planning to start the fund with an initial amount of Rs 12,000 crore.
Bhanwala said Nabard in the current fiscal is planning to start a mega financial inclusion survey with a sample size of 40,000 households.
"It will be comprehensive survey trying to find the reasons for exclusions, practises which have contributed to inclusion, among others," he added.