Nabard to raise Rs 60,000 crore via non-convertible debentures this year

Nabard has introduced new features like multiple pricing of bonds, tripartite repos and 15-year tenor debentures

National Bank for Agriculture and Rural Development (Nabard) will raise long-term funds of Rs 60,000 crore through nonconvertible debentures in the current financial year. 

Its own requirements have been assessed at Rs 30,000 crore and the balance would be for the Centre to cover the shortfall in various schemes in rural development and sanitation in FY20.

The bank has already raised Rs 11,000 crore in the first quarter ended June 30, 2019.

Nabard chairman Harsh Bhanwala said it borrowed Rs 56,069 crore from the NCD market in 2018-19. Of this, Rs 33,169 crore was mobilised to support various central government schemes such as