Tag Archives: nabard

Awards & Recognition

NABARD Celebrates Their 43rd Foundation Day With A Strong Focus On Advancing Rural Finance Digitalization And Promoting Climate Resilience


Left to right G.S. Rawat_ Shaji K.V._ Satish B. Rao_ A.K. Sood

MUMBAI: NABARD commemorated its 43rd Foundation Day with a grand celebration at its Headquarters in Mumbai. The occasion was honored by eminent guests, stakeholders, and well-wishers who have played a critical role in NABARD’s developmental journey.

The highlight of the celebration was a Panel Discussion on “Climate Risk Management and Banking.” The panel featured esteemed experts including Dr. Trupti Mishra, Professor at IIT Bombay, Shri Santosh Kumar Singh, MD of Intellecap, and Dr. Sat Singh Tomer, CEO of Satyukt (Start-up). The discussion was adeptly moderated by Shri Vivek Adhia from BCG. In addition, several significant publications were released, and a short film was launched to mark the occasion.

Laying out a brief timeline of the organization, NABARD Chairman Shri Shaji K. V. discussed NABARD’s journey over the past 4 decades. He said, “Over the past four decades, NABARD has been a cornerstone of rural development in India. From pioneering the SHG-Bank Linkage Program to supporting JLGs and FPOs, our initiatives have empowered millions of rural households and farmers. Our interventions have fostered financial inclusion, enhanced productivity, and driven sustainable development. Embracing digital transformation, we are helping GOI in computerizing 65,000 PACS and integrated Core Banking Solutions in numerous rural cooperative banks. As we continue to innovate and adapt, our mission remains the same: to uplift the rural economy, ensuring prosperity and resilience for all rural communities.”

Mr G.S. Rawat, DMD of NABARD, emphasized on the need to address the issues related to the agri and rural sectors of the country. “Despite the geographical and infrastructural limitations, our country is among the top 5 producers of agri-commodity in the world. There is still a credit gap in the northeastern regions of the country that needs to be addressed. NABARD is dedicated to working towards finding solutions to the challenges and bridging the gap by leveraging technology. We need innovations to ensure the credit flow to small farmers from remote areas of the country. Innovation will be a catalyst in enhancing the efficiency of the existing agri value chain”

Highlighting NABARD’s key role in the development and prosperity of rural India, Dr. A.K. Sood, DMD of NABARD, said, “Nothing delivers results like success, and we have consistently increased our credit flow to agriculture, delivering impactful results and touching the lives of millions of farmers over two-and-a-half decades. We are also embracing technology to explore new frontiers in financial inclusion, leveraging fintech for underserved rural India. Our challenges now are new—climate change, water scarcity, and an unceasing spiral of indebtedness among farmers. But shoulder-to-shoulder with all stakeholders, we will continue to strive to build a more inclusive and resilient rural India.“

Concluding the event, Shri Shaji K.V. reiterated the pivotal NABARD has to play in realizing the dream of ‘Vikasit Bharat’ by 2047. “We are also looking forward to strengthening the other sectors like fisheries and we believe that our initiatives will help in the growth of rural GDP to support the growth of our country. NABARD has an important role to play in strengthening the foundation of the vision of ‘Vikasit Bharat’ by 2047”.

The 43rd Foundation Day celebration of NABARD was a resounding success, reflecting its enduring legacy and future aspirations.

Business

NABARD Chairman launches NABSAMRUDDHI’s Climate Ready WASH awareness campaign on World Water Day

NABARD Chairman Shri Shaji K.V., addressing NABSAMRUDDHI's World Water Day event

Mumbai, March 23, 2024: NABARD, together with its NBFC subsidiary NABSAMRUDDHI, commemorated World Water Day on 22 March 2024 by launching the primary part of a nationwide Climate Ready WASH funding awareness campaign for girls JLG debtors of Micro Finance Institutions, to take ahead the frequent mandate of sustainable rural improvement.

The occasion to kickstart the identical, at NABARD Mumbai, was inaugurated by Shri Shaji Ok.V., Chairman, NABARD who, in his keynote handle, emphasised the criticality of water availability for the marginalised segments and the necessity to focus on affect slightly than returns to assist them. To quote him, “Water is a public good however the water stability is altering because of local weather change. It is essentially the most marginalised who face the brunt of local weather threat and their livelihoods are getting affected. NABARD being a public finance establishment is progressive options to assist essentially the most needy section by partnering with Panchayart Raj Institutions, Civil Society organisations, Government businesses to create a bigger affect. Awareness era is vital to such options.  Our subsidiary NABSAMRUDDHI has piloted the Climate Ready WASH funding programme below which the campaign for creating awareness amongst finish debtors has been kick-started at present, with assist from NABARD. The mainstreaming of the initiative will assist to deal with these challenges as nicely”.

NABSAMRUDDHI has been offering concessional wholesale WASH loans by availing refinance from NABARD, blended technical assist from its companions Water.org, FINISH Mondial, to foster sustainable livelihoods. So far, 45 Million USD of WASH funding has been supplied by the NBFC by means of 32 accomplice establishments, protecting 75,000 finish debtors, 90% of whom are ladies.

The campaign will cowl 40 block degree camps in local weather weak areas in 7 states in part 1 by means of FINISH Mondial. To assist the identical, 3 publicity visits had been carried out for stakeholders since NABSAMRUDDHI pioneered the programme in November 2023, whereas 8 time period loans have been sanctioned.

Dr. Rajendra Singh, Waterman of India and Smt. Vedika Bhandarkar, International President and COO, Water.org addressed the gathering by means of Video messages.

Shri Manoj Gulati, Regional Director, South Asia, Water.org and Shri Ravi Krishan Takkar, Chairman NABSAMRUDDHI addressed the gathering.

Smt. Bonani Roychoudhury, Managing Director, NABSAMRUDDHI underscored COP27 and COP28 declarations on local weather resilient WASH, and emphasised the necessity for collaborative motion in funding the final mile section. According to her “Financing such options is anticipated to end in local weather threat mitigation and adaptation for the weak and increase well being, productiveness, incomes, high quality of lifetime of rural ladies whereas addressing the problems of gender fairness, empowerment, security and dignity”.

The occasion was attended by Shri G.S. Rawat and Dr A. Ok. Sood, DMDs of NABARD, Senior Officials of NABARD, Banks, MFIs, NBFCs and technical companions Sa-dhan, GIZ, amongst others.

The programme was taken as much as handle the antagonistic affect of local weather change on protected water and sanitation, as a local weather disaster majorly manifests as a water disaster, by means of droughts, floods, melting glaciers, cyclones and salinity of water tables induced by rising sea ranges.

The merchandise to be coated for financing will embody majorly the next 4 options:

  1. Climate good bathrooms
  2. Rainwater harvesting for borewell recharge
  3. Rainwater harvesting for storage
  4. Solarisation of pumps

An IEC video on NABSAMRUDDHI’s WASH funding initiatives, developed by Water.org was launched on the event. Also, 2 brochures introduced out by NABARD on water budgeting have been launched.

A MOU was additionally signed between NABSAMRUDDHI and Climate Policy Initiative(CPI) on the event to collaborate on financing Climate good options.


Neel Achary

Business

NABARD and ADB Collaborate for Climate Resilience in Indian

NABARD and ADB Collaborate for Climate Resilience in Indian Agriculture, Natural Resources, and Rural Development Sector Mumbai, 19 December 2023: National Bank for Agriculture and Rural Development (NABARD) and Asian Development Bank (ADB), launched an initiative to facilitate local weather motion in India’s agriculture, pure sources, and rural improvement (ANR) sector. Under this initiative, a Technical Support Unit (TSU) has been arrange in NABARD with the partnership of Bill and Melinda Gates Foundation (BMGF) to allow NABARD to handle the challenges posed by local weather change, significantly in the areas of agriculture and rural livelihood sectors in India.

At the launch occasion, Shri Shaji Okay V, Chairman of NABARD, highlighted the significance of enhancing local weather resilience since near 55% of belongings in the Indian Banking sector is liable to local weather dangers. He additionally talked about, that “NABARD is dedicated to not simply assist rural monetary establishments in India to determine and abate local weather dangers but in addition channel world swimming pools of local weather capital into India’s ANR sector. At the identical time, NABARD can be focussed on establishing a path to local weather neutrality in its personal operations.” Mio Oka, Director, Agriculture, Food, Nature, and Rural Development Sector Office, ADB and Srivalli Krishnan, Senior Program Officer, BMGF had been additionally current in the course of the launch occasion.

Intellecap Advisory Services Private Limited has been appointed to handle this Technical Support Unit. Intellecap has confirmed expertise in on-ground administration of large-scale packages in agriculture and different agri-allied sectors, with a local weather adaptation in addition to mitigation focus. NABARD wish to use this chance to name all of the ecosystem companions to hitch us in this journey and make this planet a greater place to stay.


Mansi Praharaj

Business

NABARD emphasises on agri-fintech innovations for taking rural and agri-economy forward

NABARD emphasises on agri-fintech innovations for taking rural and agri-economy forward Mumbai, ninth September 2023: The National Bank for Agriculture and Rural Development (NABARD) took heart stage on the Global Fintech Fest (GFF), held from September fifth to September seventh, 2023 in Mumbai. NABARD highlighted its ground-breaking work to combine digital monetary providers with rural and agri–economic system. During the occasion, NABARD participated in a sequence of panel discussions addressing necessary matters. These included the far-reaching impression of digital id and Know Your Customer (KYC) options on regulation, in addition to partaking with Fintechs and Agri-techs. NABARD shared its in depth expertise working alongside these sectors and unveiled a spectrum of initiatives aimed toward propelling the agricultural and rural economic system to new heights by complete digital monetary providers.

“The transformation of agriculture and rural finance is of paramount significance. Through worth chain financing, we goal to bridge the digital divide and convey monetary providers to the doorsteps of the rural inhabitants. Through expertise, we are able to contribute considerably to the financial development and prosperity of India’s rural communities.” mentioned Shri Manikumar S., Chief General Manager (SPPID) at NABARD. 

“Collaboration between agritech and fintech holds the promise of a brighter, extra affluent future for rural India. At NABARD, our focus is on leveraging expertise and innovation to bridge monetary gaps, empower rural communities, and remodel agriculture. The Global Fintech Fest is the fitting discussion board to share our imaginative and prescient and progress, and we’ll proceed to drive monetary inclusion and sustainable development throughout the nation,” mentioned Shri Monomoy Mukherjee whereas explaining the endeavours of NABARD. 

NABARD‘s presence on the ‘Global Fintech Fest’ was marked by internet hosting six-panel discussions all through the three-day occasion. These discussions underlined the multifaceted features and the importance of fostering collaboration between agritech and fintech. Such collaborative innovations promise to inject new worth into the prevailing agricultural worth chain, laying the inspiration for a extra sustainable, environment friendly, and technologically superior agricultural ecosystem. With these initiatives, NABARD reiterated its dedication to empowering the rural economic system and driving monetary inclusion by worth chain financing in agriculture, growing progressive options to offer digital monetary providers in distant and inaccessible areas.

“I’d prefer to thank NABARD for their monetary help in forming my firm. NABKISAN has offered us with a CC mortgage to type our FPO. The ease of availing finance for FPOs and farmers like me has had a big impression on the agricultural worth chain,” a farmer from the Jalgaon district of Maharashtra, acknowledging NABARD‘s contribution throughout a panel session on the concluding day of Global Fintech Fest 2023. 

The Global Fintech Fest offered a wonderful platform for NABARD to showcase its pioneering efforts in leveraging expertise to revolutionize monetary providers in rural India. By taking part within the occasion, NABARD reaffirmed its dedication to advancing monetary inclusion and empowering rural communities throughout the nation.


Mansi Praharaj