At the inauguration, PM Modi interacted with artisans and was felicitated by Nabard Chairperson Shaji KV
He highlighted that institutional credit to agriculture reached an all-time high of Rs 25.10 trillion during FY24
RRBs reported their highest-ever consolidated net profit of Rs 7,571 crore for FY24, with a gross non-performing assets (GNPA) ratio of 6.1 per cent - lowest in 10 years
Last week, China's interbank watchdog said it would investigate four rural commercial banks for suspected bond market manipulation
Out of 820 million active internet users last year, 370 million used the web for digital banking
The limit for bulk deposits was increased in 2019 for SCBs and SFBs as "single rupee term deposits of Rs 2 crore and above" from Rs 1 crore
Business correspondent firms' revenues are under stress as banks get tough with them to meet targets
From the government's coffers, Rs 5,000 for opening an account for a child born into a poor family will be yet another milestone for financial inclusion, after PMJDY
The issuer received bids in the range of 7.85-7.87 per cent, according to market participants
The exemption dispensation from prior scrutiny and approval of CCI would be available for five years, the Corporate Affairs Ministry (MCA) said
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.
From Ramesh Iyer, VC & MD at Mahindra Financial Services to Rakesh Singh, MD & CEO at Aditya Birla Finance, here is the list of panelists from NBFCs
Scope of their survival is diminishing. Even as the overall business of rural financial institutions has generally been looking up, they are struggling to scale up business volumes
They are mostly loss-making, with growing bad assets so the agricultural sector prefers commercial banks
The DBUs will help banks that are now looking to reduce their physical footprint with fewer brick-and-mortar branches, with a 'light' banking approach.
According to RBI data, bank credit grew at 16.2% YoY as on September 9, while deposits were up by 9.5%
Private lender's portfolio of rural loans was at Rs 58,800 cr at the end of the first quarter this financial year
As part of the financial inclusion drive, public sector banks will open about 300 brick-and-mortar branches in the unbanked areas of various states by December 2022. These new branches will cover all remaining unbanked villages with a population of more than 3,000, according to sources. A Maximum number of 95 branches will be opened in Rajasthan followed by 54 in Madhya Pradesh. The public sector banks will open 38 branches in Gujarat, 33 in Maharashtra, 32 in Jharkhand and 31 in Uttar Pradesh. The progress with regard to the opening of branches in the rural areas was reviewed in the recent meeting of heads of public sector banks with the Financial Services Secretary last month. Banks have been asked to open branches at allocated locations by the respective State Level Bankers' Committee (SLBC) by December 2022, the sources said. Bank of Baroda will open 76 branches, while State Bank of India will establish 60 branches. Financial Inclusion is a national priority of the governmen
The smart banking lobbies will be set up in 16 districts and will be operational 24 hours and 7 days
The Financial Services Institutions Bureau (FSIB) on Wednesday recommended Mohammad Mustafa as the Chairman of NABARD. "After interfacing with 15 candidates on August 16-17, 2022, the bureau recommends Mohammad Mustafa for the position of Chairman in National Bank for Agriculture and Rural Development (NABARD)," FSIB said in a statement. The final decision on the recommendation of FSIB would be taken by the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi. Mustafa, a 1995 batch IAS officer of the Uttar Pradesh cadre, served as the Chairman and Managing Director (CMD) of Small Industries Development Bank of India. Earlier, he had served as a Joint Secretary in the Department of Financial Services and also as a Director. He had also served as CMD of National Housing Bank between 2014-15 and as MD of CERSAI in 2016. NABARD is the apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India.