Page 4 - Nabard

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

First-ever "Credit Guarantee Scheme" for livestock sector; details here

In an effort to boost the rural economy of the country, DAHD has set up credit guarantee fund trust of Rs 750 crores to give easier access to finance to eligible MSMEs and entrepreneurs

Shah asks NABARD to fix financing targets for rural sector for next 25 yrs

Cooperation Minister Amit Shah on Wednesday asked NABARD to fix targets for financing agriculture sector and rural development for the next 25 years when India will complete 100 years of Independence. Addressing the 42nd Foundation Day of National Bank for Agriculture and Rural Development (NABARD), the minister said all employees of the organisation should be involved in fixing targets. Shah said NABARD, which is engaged in finance and refinance development activities in rural India, should fix its targets keeping in view its past performance and future requirements. He also underlined the need for cooperation among cooperative organisations to promote rural development. Shah said that a nation with 65 per cent rural population cannot prosper without NABARD. "A stage has come today that we cannot imagine rural economy without NABARD," he said, highlighting the achievements of the organisation which played a key role in financing agriculture development and rural infrastructure.

Have sent project reports for proposals worth Rs 930 cr to Centre: Goa CM

The Goa government has sent detailed project reports for proposals worth Rs 930 crore to the Centre for funding, Chief Minister Pramod Sawant said. Talking to reporters after chairing a review meeting, Sawant on Tuesday said that Goa's financial situation was good amid various reforms. He said that Goa has submitted to the Centre detailed project reports for various proposals worth Rs 930 crore to be undertaken in the state. The CM said that the state has already submitted 90 per cent of the utilisation certificates for the projects that were approved in the past by the Centre. There are no bills pending (of any contractor by the state government). The State government is also reviewing the loans taken from the agencies like NABARD and SIDBI, he said.

Sitharaman directs NABARD to make rural income improvement top priority

Sitharaman directed NABARD to facilitate the aggregation of organic producers by Farmer Producer Organisations (FPOs), with a focus on the Northeast states

'Nabard plans to raise at least 20 bln rupees via over 3-yr bonds'

In May, Nabard raised 49.29 billion rupees via bonds maturing in three years, three months and 19 days at a 7.50% coupon

Multi-service platform ONDC beating Swiggy, Zomato: All you need to know

ONDC intends to bring the benefits of digitisation to millions of sellers and resellers in the country

Nabard projects 25% jump in priority sector loans in Maha at Rs 6.34 trn

Nabard on Monday projected a 25 per cent surge in priority sector lending in Maharashtra in FY24 to help agriculturists, small businesses and other marginalised sections of society. In the annual 'state credit seminar' held in the presence of Chief Minister Eknath Shinde, the National Bank for Agriculture and Rural Development launched the 'state focus paper' detailing a comprehensive credit potential of Rs 6,34,058 crore for priority sector in the state, according to an official statement. The projections include a credit flow of Rs 1,56,873 crore to the farm sector and Rs 3,54,854 crore to micro, small and medium enterprises, the statement said. Speaking at the seminar which was also attended by his deputy Devendra Fadanvis, bureaucrats, bankers and officials from the RBI, Shinde advised the banks to ensure maximum hassle-free credit flow to farmers as envisaged in the potential credit plan and address regional imbalances. There is a need for financing of agri-infrastructure and

Cabinet okays plan to set up 200K primary agri co-ops in next five years

The plan according to an official statement will be implemented by converging various schemes of the government in the spirit of 'whole of government approach'

NABARD aims to raise Rs 3000-5000 cr in debut green bond issue: Report

Currently, NABARD is getting necessary certifications and approvals to comply with the market regulators' guidelines on green debt issuance, a company official said

Shaji K V took charge as NABARD Chairman from Dec 7: Govt in Parliament

Shaji K V has taken the charge as Chairman of National Bank for Agriculture and Rural Development (NABARD) with effect from December 7, 2022, the government on Monday informed Parliament. He has taken over from Suchindra Misra, Additional Secretary, Department of Financial Services, Ministry of Finance, who was holding additional charge, Minister of State for Finance Bhagwat Karad said in a written reply to the Lok Sabha. Further, Karad said there are two board level vacancies in the organisation while 514 vacancies are at the group A level. Replying to a question, the minister said more than 12 lakh loans have been extended by public sector banks in rural areas across the country for setting up business, after the Covid period, that is, from April, 2020 to November, 2022. It has been conveyed by the RBI that they have received 1,230 complaints under RBI Ombudsman pertaining to 'Delay in loan sanction/disbursement or non-observance of prescribed time schedule for disposal of loan .

Bank boards can decide on waiving penalty on minimum balance: Karad

The boards of individual banks can decide on waiving the penalty on accounts, which do not maintain a minimum balance, Union Minister of State for Finance Bhagwant Kishanrao Karad on Wednesday said. "Banks are independent bodies. They have boards which can take a decision to waive off the penalty," Karad told reporters here. The minister was responding to a question if the Centre would consider directing banks not to charge any penalty from the accounts where the balance falls below the prescribed minimum levels. Karad was on a two-day visit to Jammu and Kashmir to review the implementation of various financial schemes in the Union Territory. The minister said the banks in Jammu and Kashmir had done a good job over the years and directed them to improve their performance on those parameters where they are lagging behind the national average. "I have told the banks in Jammu and Kashmir to hold Saturday camps to bring the percentage of Jan Dhan Yojana accounts closer to the national