The National Bank for Agriculture and Rural Development, or NABARD released its reports for the FY 2017-18, with the bank registering a 17 per cent increase in its balance sheet, which stood at Rs.4.06 lakh crore. The balance sheet for the previous year was Rs.3.48 lakh crore.
In terms of capital and reserves, NABARD saw a 22 per cent jump compared to the last FY. From Rs.31,471 crore in 2016-17 this value went up to Rs.38,345 crore.
With regards to loans and advances the lender saw a 15 per cent increase, with the loans standing at Rs.3.54 lakh crore, as against Rs.3.08 lakh crore in the previous fiscal. Long-term refinance accounted for the highest portion of its loans, with the value being Rs.1.22 lakh crore.
NABARD also provided loans worth Rs.7,329 crore under the Prime Minister’s Gramin Awas Yojana.
While NABARD had set a Rs.10 lakh crore target for agri credit flow in the year, it managed to exceed this target by 0.46 lakh crore. It provided loans worth Rs.20,447 crore and Rs.239 crore under the irrigation fund and food processing fund respectively.
It also increased its client base, having doled out loans to small finance banks and NBFCs as well. While small finance banks received loans worth Rs.3,900 crore, NBFCs received loans worth Rs.2,794 crore.
With regards to developmental work, NABARD was focussed on financial inclusion and digitisation. It assisted 350 cooperative banks to on-board the RuPay Kisan Card system. It also implemented Jal Jeevan Hai, a water campaign, in over 1 lakh villages in the country.
The year also saw NABARD sanction 2,154 Farmer Producers Organisations. A total of 2,040 such organisation were registered during the FY. The fiscal saw the government infuse Rs.3,800 crore in NABARD.