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Nabard to raise Rs 5,000 crore this year

Mumbai: Agri-lender Nabard plans to raise Rs 55,000 crore fr..

Mumbai: Agri-lender Nabard plans to raise Rs 55,000 crore from the markets in FY'20 to fund its business and also support governments various agricultural and rural development schemes

We plan to raise Rs 55,000 crore for the market this year” said Nabard chairman, Harsh Kumar Bhanwala in Mumbai on Tuesday. ”This amount will also include allocations made to meet shortfall in government schemes” he said.

In addition to funding various rural development schemes and support the agriculture projects in the recent past, Nabard has also provided funding support to many government projects announced in the budget wherever there has been a shortfall. In the past it has support such shortfalls in the allocations to the Agriculture, Water Resources and the Rural Development ministry.

The agri and rural lender has supported the governments Swach Bharat Scheme, Pradhan Mantri Awas yojana in rural areas and the Pradhan Mantri gram sadak yojana in the past among others.

In its supervisory role of regional rural banks (RRBs), Nabard is preparing a framework for risk-based supervision of regional rural banks. This could be a logical extension of the supervisory approach towards regional rural bankRead More – Source

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