Have headroom to raise ₹35,000 crore from market: Nabard chief1 min read . Updated: 17 Nov 2019, 11:52 AM IST
- Nabard raises funds through long term bonds, usually of 10-15 years tenures
- The Nabard raises funds through long term bonds, usually of 10-15 years tenures
New Delhi: Nabard has headroom to raise about ₹35,000 crore from the market during the remaining months of the current fiscal to fund its business growth and also support various agricultural and rural development schemes of the government, a top official said.
"So far we have raised ₹20,000 crore and remaining ₹35,000 crore can be raised depending on demand and requirement," Nabard Chairman Harsh Kumar Bhanwala said.
This includes Extra Budgetary Resources (EBR) borrowing for various flagship schemes of the government, he added.
The National Bank for Agriculture and Rural Development (Nabard) raises funds through long term bonds, usually of 10-15 years tenures.
Last financial year, Nabard raised a total of ₹56,069 crore through non-convertible debentures, of which ₹33,169 crore was for government schemes and the remaining for the organisation's own funding requirements.
Some of the government schemes financed by Nabard include Swachh Bharat Mission, Pradhan Mantri Awas Yojana and Pradhan Mantri Krishi Sinchai Yojana.
In 2018-19, Nabard's loan portfolio grew nearly 22% to ₹4.32 lakh crore. Assets under management of the bank were at ₹4.87 lakh crore at the end of March 2019, up 20 per cent since March 2018.
Bhanwala also said Nabard's Self Help Group - Bank Linkage Programme (SHG-BLP), benefiting millions of rural women, will soon move to a digital platform which will revolutionise lending to women SHGs.
This story has been published from a wire agency feed without modifications to the text.