Nabard to raise Rs 400 bn in FY19 via bonds, says chairman Harsh Bhanwala

Nabard would look at the feasibility of tapping Masala bonds, which would need Reserve Bank of India's nod

National Bank for Agriculture and Rural Development (NABARD) plans to raise about Rs 400 billion from markets through bonds in the current FY19 (2018-2019).

The nodal agency for refinancing rural infrastructure and farming sector has increased its market borrowings while reducing share of Rural Infrastructure Development Funds over the years.

Harsh Bhanwala, chairman, Nabard said the financial institution has raised about Rs 330 billion through bonds in 2017-18, up from Rs 250 billion in 2016-17. In FY19, market borrowing will be Rs 70-80 billion more than what it raised in 2017-18.

With the benefit of easing interest rates, the weighted