Nabard to raise Rs 3.9 trn in FY22, expand balance sheet to Rs 7.5 trn

Institution will also manage two credit funds-one for animal husbandry, the other for supporting Farmer Producer Organisations in 2021-22

National Bank for Agriculture and Rural Development (Nabard) will raise up to Rs 3.9 trillion in current financial year (FY22) to support growth.

Nabard chairman, G R Chintala, said the development finance institution will borrow between Rs 3.72 and 3.90 trillion from the market in FY21-22 to expand its balance sheet to Rs 7.5 trillion level by March 2022.

The borrowings were at Rs 3.17 trillion in FY21, up from Rs 2.06 trillion in FY20. The fund raising would be done through a combination of debentures, government support, long-term bonds and short-term funding.

The balance sheet expanded by 24 per