Page 4 - Nabard

Nabard report puts Gujarat's credit potential at Rs 3.53 trn for 2024-25

A National Bank for Agriculture and Rural Development (NABARD) report on Thursday revealed that Gujarat's credit potential for priority sectors stands at Rs 3.53 lakh crore. A NABARD release said its annual document 'State Focus Paper 2024-25' was unveiled by Gujarat Chief Secretary Raj Kumar at an event held here in the presence of senior officials, bankers, heads of NGOs and stakeholders. NABARD is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India. "NABARD's meticulous analysis highlighted a credit potential of Rs 3.53 lakh crore for Gujarat, including Rs 1.42 lakh crore, which comes to 40 per cent, for agriculture and allied sectors, Rs 1.80 lakh crore (51 per cent) for the MSME sector, and the remaining 9 per cent for other priority sectors," said the release. The document not only outlines the existing credit-absorption capacity but also proposes strategies to enhance it through strategic partnerships and policy ...

Nabard Q3 results: Net profit rises 34% to Rs 4,495 crore, income up 25%

The national developmental bank Nabard has reported a 34 per cent on-year rise in net profit at Rs 4,495 crore for the 2023 December quarter, helped by robust income growth and balance sheet expansion. In the year-ago period, it had booked Rs 3,345 crore in post tax profit. The bottom line expansion was led by a margin increase of 18 basis points to 1.53 per cent, a marginal improvement in gross bad loans at 0.27 per cent and zero net Non Performing Assets (NPAs). Total income of the bank rose 25 per cent to Rs 35,503 crore in the latest December quarter from Rs 28,463 crore. During the same period, expenses increased 23 per cent to Rs 29,496 crore from Rs 24,042 crore, its chairman Shaji K V told PTI on Wednesday. The city-headquartered bank saw its assets size rising 15 per cent to Rs 8,31,091 crore as of December 2023 and the chairman said the same is likely to cross Rs 9.05 lakh crore by March end. Of the total assets, its own funds rose 10 per cent to Rs 71,261 crore. On the

Nabard projects 16% jump in priority sector lending potential in Bengal

The National Bank for Agriculture and Rural Development (Nabard) on Saturday projected a robust double-digit growth in priority sector lending potential of Rs 3.15 lakh crore in West Bengal for 2024-25. Nabard's Chief General Manager Usha Ramesh unveiled the West Bengal state focus paper on Saturday alongside bankers, State Chief Secretary B P Gopalika, and other officials. The paper projects a priority sector lending potential of Rs 3.15 lakh crore in Bengal in 2024-25, marking a 16 per cent increase from the previous fiscal year's figure of Rs 2.70 lakh crore. In the first quarter of the current fiscal year, priority sector lending in the state amounted to Rs 86,531 crore, officials said. The optimistic outlook is fuelled by strong performance of the MSME sector in the state, it said. "We are taking several interventions and projects. But the projections made for 2024-25 can only be achieved through the coordinated approach of all stakeholders," Ramesh said. She expressed confi

Nabard's Rs 34,490 cr scheme to boost agri, other key sectors: Himachal CM

A credit potential scheme of Rs 34,490 crore has been prepared by Nabard for agriculture, MSMEs and other priority sectors in 2024-25, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Wednesday. The scheme's allocation is 8 per cent higher than the current fiscal, he added. Inaugurating the State Credit Seminar for the financial year 2024-25 organised by Nabard, he said the National Bank for Agriculture and Rural Development has a major role in making Himachal Pradesh self-reliant. "I urge banks to extend their active support in providing loans for proper implementation of schemes so that farmers, horticulturists and youth can avail maximum benefits of these schemes. "As per a Reserve Bank of India (RBI) report, none of the districts of the state falls in the category of 'credit deficient' districts. Although the credit flow in these districts is normal, the loan-to-deposit ratio of the state is 36.39 per cent," the chief minister said in a statement issued here. He

Priority sector credit target to be Rs 3.97 trn for K'taka in FY25: Nabard

NABARD has estimated a credit potential of Rs 3.97 lakh crore for priority sector lending in Karnataka during 2024-25, its Chief General Manager (CGM) T Ramesh said here on Tuesday. Speaking during the State Credit Seminar for Karnataka at their Regional Office, the NABARD CGM said the estimated credit potential is 10.67 per cent higher than the previous years' credit projection. Of the total, the share of agriculture sector including agri-infrastructure and ancillary activities is Rs.1.85 lakh crore (46 per cent), MSME sector is Rs.1.58 lakh crore (40 per cent) and other priority sector activities is Rs.0.54 lakh crore (14 per cent), a statement issued by NABARD quoted him as saying. In the wake of severe drought situation, NABARD has been complementing the efforts of State government by extending financial support to the tune of Rs 990 crore for 119 irrigation projects and Rs 611 crore for drinking water projects under Rural Infrastructure Development Fund and has sanctioned Rs 29

Survival and growth of FPOs

The advantages of the FPOs have been borne out and quantified by a study conducted by the National Bank for Agriculture and Rural Development (Nabard) in 2020-21 and 2021-22

Uttar Pradesh's priority sector lending likely to jump 52% in FY25

Against the aggregate credit flow of Rs 3.75 trillion in FY24, the advances of Rs 5.73 trillion will reflect a year-on-year (Y-o-Y) growth of 52 per cent

Nearly 7,600 FPOs registered, 75% govt target, boosting farm productivity

Centre launched a Rs 6,865-crore scheme in 2020 to form and promote 10,000 FPOs by 2024

New national co-op policy calls for body to address financing needs

It has also called for rationalizing the process of winding up and liquidation of a cooperative where revival is not possible within a reasonable timeframe

HDFC Bank appoints former Nabard chairman Bhanwala as its director

HDFC Bank on Monday said the board of the bank has approved the appointment of former NABARD chairman Harsh Kumar Bhanwala as an additional independent director. The board in its meeting on Monday also approved the appointment of V Srinivasa Rangan, chief financial officer of erstwhile Housing Development Finance Corporation Ltd, as executive director for three years with effect from November 23, 2023, HDFC Bank said in a regulatory filing. Both appointments are subject to shareholders' approval, it said. Bhanwala has been appointed for a period of three consecutive years from January 25, 2024 to January 24, 2027, it said. Currently, Non-Executive Chairman of MCX, Bhanwala also serves as the Director on the boards of IIM Rohtak and Bayer Crop Science Ltd. Prior to leading National Bank for Agriculture and Rural Development (NABARD), he was the chairman and managing director of the India Infrastructure Finance Company (IIFCL), as per the filing. Rangan has vast experience in housi

Nabard withdraws Rs 5,000 cr bond issue over high yield bids for coupon

The issuer received bids in the range of 7.85-7.87 per cent, according to market participants

Aim to digitise 65,000 cooperative societies by March 2024: Nabard Chairman

Nabard Chairman Shaji K V on Wednesday said the government aims to computerise about 65,000 cooperative societies by March 2024 in order to improve transparency and efficiency of such cooperatives. The National Bank for Agriculture and Rural Development (Nabard) has been designated as project manager for computerisation of cooperative societies under the guidance and directions of the National Level Monitoring and Implementation Committee and Ministry of Cooperation. "Close to 10,000 cooperative societies have already been digitised. We are targeting 65,000 societies to be digitised by March 2024," he said at a conference organised by Sa Dhan. Observing that cooperatives have created lot of inefficiencies over the years, he said, "we are trying to clean up by improving transparency and making them important value chain players through computerisation of these entities." Nabard is also building a data warehouse for cooperatives and the rural sector, he said, adding, it should be in

Nabard appoints Goverdhan Rawat, Ajay Kumar Sood as Dy Managing Directors

Rawat has over three decades of experience with NABARD, Ajay Kumar Sood served as the Chief General Manager of NABARD at the Himachal Pradesh Regional Office in Shimla

Fundraising through corporate bonds decline in October, shows data

According to data from the Prime database, companies and banks raised Rs 23,797 crore as of October 24, compared to Rs 72,941 crore in September

Basel-III rules to give Nabard room to double balance sheet from April 2024

Shaji K V, chairman of Nabard, said at present the institution is adequately capitalised and under the Basel framework the capital adequacy ratio will be upward of 20 per cent

Nabard plans to raise Rs 5,000 crore through green bonds in H2FY24

Shaji K V, chairman of Nabard, said the organisation is now focusing on documenting the impact and, in turn, ensuring transparency

Nabard raises Rs 1,041 crore through India's first social impact bond

State-run entity sets coupon of 7.63% on this issue

JP Morgan EM index addition: Banks, FIs look to raise Rs 18,000 crore

NABARD to issue social sector bonds on Tuesday

Nabard partners with UNDP India for data-driven innovations in agriculture

UNDP India and the National Bank for Agriculture and Rural Development (Nabard) on Tuesday signed a Memorandum of Understanding to co-create data-driven innovations in agriculture and food systems to support smallholder farmers. Under the MoU, the organisations will work to improve lives and livelihoods of smallholder farmers by sharing open-source data for product development, transfer of technology and supporting the framing of agrarian policies, Nabard and United Nations Development Programme (UNDP) India said in a joint statement on Tuesday. The partnership aims at enhancing and disseminating collaborative digital public goods like DiCRA (Data in Climate Resilient Agriculture). DiCRA provides open access to key geospatial datasets pertinent to climate resilient agriculture. DiCRA, which is curated by UNDP and partner organisations to inform public about investments in agriculture, already provides intelligence on climate resilience for 50 million hectares of farmland across the

NABARD sanctions Rs 1,974 cr to Rajasthan govt for rural infra development

NABARD has sanctioned Rs 1,974.07 crore to the Rajasthan government under the Rural Infrastructure Development Fund (RIDF) for 2023-24. NABARD Rajasthan Chief General Manager Dr Rajiv Siwach said Rs 930.44 crore has been sanctioned for three rural drinking water supply projects in Ajmer, Jalore, and Kota districts. Further, Rs 926.48 crore was sanctioned for the construction of 676 rural roads in the desert and tribal areas of the state. Earlier, Rs 117.15 crore had been sanctioned for the construction of 104 veterinary hospitals and 431 sub-centres in all districts of the state. He said drinking water supply projects are expected to provide clean and potable water to 2.87 lakh households in 2,500 villages, whereas rural road projects will improve connectivity in 1,229 villages across 12 districts. NABARD is also supporting the state government in bringing 4.28 lakh hectares under micro-irrigation with a support of Rs 740 crore from the Micro Irrigation Fund, he said. Siwach said