Nabard balance sheet grows 24% to Rs 6.57 lakh crore in FY21

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National Bank for Agriculture and Rural Development (Nabard) on Tuesday reported a 24 per cent development in its balance sheet to a file excessive of Rs 6.57 lakh crore in the monetary yr ended on March 31, 2021.

In the monetary yr 2019-20, its balance sheet stood at Rs 5.32 lakh crore.

“In FY 2020-21, we have given a stellar performance. We closed the business at Rs 6.57 lakh crore, recording a growth rate of 23.5 per cent. This is an all-time high,” Nabard Chairman G R Chintala instructed reporters.

The development in enterprise was helped by numerous schemes introduced by the federal government, rejigging of processes and merchandise accomplished by the establishment and likewise because it inspired shoppers, establishments and state governments to avail the advantages of the schemes as a lot as doable for quicker developments, he mentioned.

“For FY2021-22, we have pegged our balance sheet size at Rs 7.5 lakh crore,” Chintala mentioned.

The borrowings of the financial institution elevated to Rs 3.18 lakh crore from Rs 2.06 lakh crore in the course of the corresponding interval, and for FY2022 it plans to borrow shut to Rs 3.7-3.9 lakh crore from the market, he mentioned.

Its web curiosity margins (NIM) stood at 1.72 per cent and capital to danger (weighted) belongings ratio (CRAR) at 20.92 per cent. Gross NPAs stood at 0.21 per cent, virtually the identical as final yr. Net NPAs have been at zero per cent, Chintala mentioned.

The loans and advances of the event financial institution has grown from Rs 4.81 lakh crore to Rs 6.03 lakh crore, a big enhance of 25 per cent.

Total refinance disbursement accomplished by it stood at Rs 2.23 lakh crore, a development of 25 per cent over 2019-20.

Under Aatmanirbhar Bharat Abhiyan, Nabard disbursed Rs 16,800 crore to cooperative banks, Rs 6,700 crore to regional rural banks (RRBs) and Rs 2,000 crore to NBFC-MFIs by a Special Liquidity Facility (SLF).

NABARD disbursed Rs 65,746 crore 2020-21 for constructing agricultural and rural infrastructure. The disbursements have been in direction of Rural Infrastructure Development Fund (Rs 27,831 crore), NABARD Infrastructure Development Assistance (Rs 7,506 crore), Long Term Irrigation Fund (Rs 7,761 crore), Pradhan Mantri Aawas Yojana – Gramin (Rs 20000 crore), Micro Irrigation Fund (Rs 1,827crore) and Warehouse Infrastructure Fund (Rs 825 crore).

Chintala mentioned regardless of the Covid-19 pandemic, the establishment accomplished 100 per cent inspections of regional rural banks.

As per the inspection, out of the 43 RRBs, 23 are in superb form, he mentioned.

When requested about consolidation of RRBs, Chintala mentioned, “One-state-one-RRB kind of thinking is already sinking in everywhere, but I am not saying that the decision (on it) has been taken.”

Speaking about microfinance establishments (MFIs), he mentioned in the course of the preliminary months of lockdown in FY21, micro lenders collections and enterprise have been affected.

“From August (2020), the collection efficiencies (of MFIs) started improving. Today, most of the MFIs have a collection efficiency of 95-96 per cent,” Chintala mentioned.

During 2020-21, Nabard promoted 394 farmer producer organisations (FPOs) and offered grant help of Rs 38.41 crore main to a cumulative grant assist of Rs 244.40 crore.

In addition, it’s also the main implementing company underneath the Central Sector Scheme of 10,000 FPOs and would promote 4,000 FPOs in 5 years. In the earlier fiscal, it sanctioned 300 FPOs with a grant of Rs 75 crore.

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