You are here: Home » Companies » News
Business Standard

Have headroom to raise Rs 35,000 cr to fund business growth: Nabard chief

The National Bank for Agriculture and Rural Development raises funds through long term bonds, usually of 10-15 years tenures

Press Trust of India  |  New Delhi 

Nabard
Photo: Wikipedia

has headroom to raise about Rs 35,000 crore from the market during the remaining months of the current fiscal to fund its business growth and also support various agricultural and rural development schemes of the government, a top official said.

"So far we have raised Rs 20,000 crore and remaining Rs 35,000 crore can be raised depending on demand and requirement," Chairman Harsh Kumar Bhanwala told PTI.

This includes Extra Budgetary Resources (EBR) borrowing for various flagship schemes of the government, he added.

The National Bank for Agriculture and Rural Development (Nabard) raises funds through long term bonds, usually of 10-15 years tenures.

Last financial year, raised a total of Rs 56,069 crore through non-convertible debentures, of which Rs 33,169 crore was for government schemes and the remaining for the organisation's own funding requirements.

Some of the government schemes financed by Nabard include Swachh Bharat Mission, Pradhan Mantri Awas Yojana and Pradhan Mantri Krishi Sinchai Yojana.

In 2018-19, Nabard's loan portfolio grew nearly 22 per cent to Rs 4.32 lakh crore. Assets under management of the bank were at Rs 4.87 lakh crore at the end of March 2019, up 20 per cent since March 2018.

Bhanwala also said Nabard's Self Help Group - Bank Linkage Programme (SHG-BLP), benefiting millions of rural women, will soon move to a digital platform which will revolutionise lending to women SHGs.

First Published: Sun, November 17 2019. 10:50 IST
RECOMMENDED FOR YOU