Mumbai, Apr 28 (PTI) National Bank for Agriculture and Rural Development (Nabard) on Thursday reported a 15.08 per cent growth in its balance sheet to Rs 7,57,246 crore in the fiscal ended March 2022.
In fiscal 2021, its balance sheet stood at Rs 6,57,798 crore.
“Next year, we are targeting a balance sheet size of Rs 8.75 lakh crore,” Nabard’s Chairman GR Chintala told reporters.
The bank’s loan portfolio increased by 12.89 per cent to Rs 6,80,731 crore as of March 31, 2022, from Rs 6,03,000 crore in the preceding year.
The total disbursement rose by 7.73 per cent to Rs 3,77,086 crore against Rs 3,50,022 crore in FY21.
Its gross non-performing asset (NPA) stood at 0.3 per cent in FY22 compared to 0.21 per cent in FY21.
As of March-end, the outstanding borrowing was Rs 6.46 lakh crore against Rs 5.59 lakh crore. Net borrowing in FY22 stood at Rs 3.63 lakh crore and the bank is planning to borrow a similar amount in FY23.
It is planning to raise around Rs 45,000 crore through the issuance of bonds in the current fiscal.
Cost of borrowing reduced to 4.86 per cent from 5.24 per cent in FY21.
In the current fiscal, Chintala does not expect pressure on the cost of funds and said the bank will be able to get funds at better rates.
In a bid to support agriculture and rural development activities, the bank reported an all-time high refinance disbursement of Rs 2.68 lakh crore in FY22 against Rs 2.23 lakh crore extended in FY21.
Long-term refinance disbursement reached a record of Rs 1,16,000 crore from Rs 92,786 crore FY 2020-21.
The development finance institution (DFI) reported a record high short-term disbursement of Rs 1,52,430 crore during FY22 compared to Rs 1,30,964 crore in 2020-21.
Under the Special Liquidity Facility – 2, it has disbursed Rs 24,399.44 crore.
It disbursed a concessional refinance of Rs 15,000 crore from the Long Term Rural Credit Fund to regional rural banks (RRBs) and cooperative banks (CBs) for boosting capital formation in agriculture.
It also extended refinance support of Rs 8,820 crore to the NBFC sector and Rs 3,447 crore to the small finance banks.
The cumulative sanction under the Rural Infrastructure Development Fund (RIDF) as of March 31, 2022, stood at Rs 4.55 lakh crore to cover about 7.43 lakh projects across the country. These projects would boost agriculture, irrigation, rural connectivity, and the social sector, among others.
As of March-end, the RIDF disbursements aggregated to Rs 33,883 crore.
The disbursement under Nabard Infrastructure Development Assistance (NIDA) stood at Rs 7,136.26 crore, whereas Credit Facility for Federations (CFF), Direct Refinance to Cooperatives (DRA), the Dairy Processing and Infrastructure Development Fund (DIDF) and Fisheries Aquaculture and Infrastructure Development Fund (FIDF) saw disbursements to the tune of Rs 46,434.31 crore, Rs 17,573.67 crore, Rs 118.66 crore and Rs 171.93 crore, respectively.
Chintala said a committee was constituted by the government to look into various issues around RRBs last year. There are 43 RRBs in the country.
In FY22, the government contributed Rs 4,084 crore towards the recapitalisation of RRBs. Out of this, Rs 3,197 crore has been released to 21 RRBs so far, the bank said.
“With this, all the RRBs are above the prudential norms and they have the growth capital. They are going to be the major players,” Chintala said.
The bank disbursed loans worth Rs 71,000 crore to self-help groups (SHGs) during the fiscal. Average loan disbursed per SHG stood at Rs 2.83 lakh. PTI HV BAL BAL
