The National Bank for Agriculture and Rural Development (NABARD) on Tuesday announced a 24% increase in its balance sheet for FY15.
NABARD said its balance sheet grew to 6.57 lakh crore in FY21, compared to ₹ 5.32 lakh crore in FY15, an increase of 24%.
Loans and advances increased from ₹ 4.81 lakh crore to ₹ 6.03 lakh crore, an increase of 25% in a year affected by the COVID-19 epidemic.
Borrowings increased to ₹ 3.17 lakh crore from 2.06 lakh crore during the previous year.
“NABARD registered a total refinance distribution of ₹ 2.23 lakh crore to support agricultural and rural development activities during the epidemic. This works for a significant increase of 25% over the previous year, ”NABARD Chairman Dr. GR Chintla said.
He said for FY22, NABARD had set a target of raising the balance sheet to ₹ 7.5 lakh crore and would take a loan of ₹ 3.7- ₹ 3.9 lakh crore from the market to meet its funding needs.
He said that under the Aatmanirbhar Bharat campaign, NABARD paid Rs 6,700 crore to cooperative banks, Rs 6,700 crore to RRBs, and Rs 2,000 crore to NBFC-MFI through Special Liquidity Facility (SLF).
He said that NBFC-MFI was provided with an additional SLF of ₹ 1,567 crore, which has assets of less than ₹ 500 crore, to help the smaller players cope with the pressure of the epidemic.
To boost economic activity, a concessional bank refinance scheme of ₹ 5,000 crore was unveiled for lending to beneficiaries in 2150 watershed development projects of NABARD. In addition, a 500 crore refinance facility was launched to support the Water, Sanitation and Hygiene (WASH) program of the Government of India.
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