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Nabard has already raised INR120bn from the market in the first quarter of the current financial year.
Nabard saw nothing unusual in the scrapped Rs 500 and Rs 1,000 notes (worth Rs 746 crore) deposited or exchanged during November 10-14, 2016, and said that only 1.6 lakh out of 17 lakh account holders deposited the amount at an average of Rs 46,795.
New Delhi [India], Dec 16 ( ANI ): The target of doubling the farmer income by 2022 is very much possible if agricultural best practices are adopted, said Harsh Kumar Bhanwala, Chairman National Bank for Agriculture and Rural Development ( NABARD) on the sidelines of an international seminar on agriculture hosted by NABARD today.
NABARD has received commitments worth INR4bn so far, the person said, without disclosing further details.
NABARD will extend the loan to State Governments during this period.
To cater to the large fund requirement and ensure completion of these projects, the Union Finance Minister, during his Budget speech 2016-17, announced creation of dedicated Long Term Irrigation Fund (LTIF) in NABARD with an initial corpus of Rs.
Harsh K Bhanwala said, 'We are planning to consider small finance bank as an option, if the RBI guidelines permit.' The firm is to apply for such a licence through its MFI subsidiary, Nabard Financial Services (Nabfins).
The rating factors in NABARD's strong parentage arising from ownership by the Government of India (GoI-99%) and Reserve Bank of India (RBI-1%) as well as its role as the apex financing, supervisory and developmental institution for the agriculture and rural sector.
NABARD has the option to raise an additional unspecified amount if bids exceed the original issue size of INR2bn, he added.
New Delhi: The Union Cabinet on Wednesday approves corpus of Rs .5,000 crore for setting up of a dedicated "Micro Irrigation Fund" (MIF) with NABARD under Pradhan MantriKrishiSinchayeeYojana (PMKSY).