Questions and Answers
What was the approved business target for NABARD for the fiscal year 2023-24?
What growth percentage did NABARD's balance sheet register during 2023-24?
Which of the following products had the highest disbursement under NABARD's business achievement for 2023-24?
What was the balance sheet size of NABARD for the fiscal year 2023-24?
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Which document summarizes the activities undertaken by NABARD's HO Departments in 2023-24?
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What is the expected balance sheet figure for NABARD during the fiscal year 2024-25?
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Under which function does NABARD include supporting financial institutions and banks?
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What is the approved business budget for NABARD for the fiscal year 2024-25?
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What is the effective interest rate for PACS under the interest subvention facility?
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What is the main purpose of the Sugar Ethanol Interest Subvention scheme introduced in 2018-19?
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What is the primary purpose of the Long Term Rural Credit Fund (LTRCF)?
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As of 31 March 2024, how much interest subvention has been provided cumulatively to sugar mills?
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Which year saw the highest total disbursement of LT Refinance according to the provided data?
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What is the purpose of the Kisan Rin Portal developed by MoA&FW, GoI?
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What was the percentage of LTRCF disbursement to LT refinance in the year 2023-24?
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Which agency is responsible for managing the Sugar Ethanol Interest Subvention scheme?
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How much did the LT Refinance amount increase in percentage terms from 2022-23 to 2023-24?
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When did data entry on the Kisan Rin Portal go live?
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How many godowns were inaugurated under the World’s Largest Grain Storage Plan on 24 February 2024?
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What was the Compound Annual Growth Rate (CAGR) of LT Refinance over the last five years?
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Which of the following statements about LTRCF is incorrect?
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What amount was released to banks through the CNA account as of 31 March 2024?
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What is the role of ICICI Bank in relation to the Sugar Ethanol Interest Subvention scheme?
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What proportion of total landholdings do small and marginal farmers represent?
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How much LT Refinance was disbursed under LTRCF in 2021-22?
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How many banks have participated in data entry on the Kisan Rin Portal as reported by 31 March 2024?
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What was the total LT Refinance disbursed in the year 2020-21?
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Which of the following best describes the funding source for the Long Term Rural Credit Fund?
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What is the interest rate that banks charge for short-term loans eligible for interest subvention?
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What is the maximum limit for interest subvention on short-term loans available for farmers involved in both crop raising and animal husbandry or fisheries?
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How much fund did NABARD release for the Interest Subvention Scheme for Short Term crop loans during the year 2023-24?
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Which organization is responsible for implementing the scheme providing soft loans to sugar mills?
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What is the interest subvention released to sugar mills during the financial year 2023-24?
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What is the total scientific storage capacity created under the Rural Godown Scheme and Agri Marketing Infrastructure Scheme as of 31 March 2024?
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How much subsidy was released for the New Agricultural Marketing Infrastructure scheme?
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What is the effective interest rate for farmers making prompt repayments under the crop loan interest subvention scheme?
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Which scheme involves assisting the establishment of 3697 units with a subsidy of ₹146.89 crore?
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As of 31 March 2024, how many units had their scientific storage capacity created under the New AMI scheme?
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What was the subsidy released under the Rural Godown Scheme?
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What percentage of interest subvention is provided to banks for extending crop loans up to ₹3 lakh?
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Which subsidy amount relates to the cumulative performance under Agri Marketing Infrastructure projects as of March 2024?
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During the Financial Year 2023-24, what scheme's continuation was approved by the Government of India?
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What is the total subsidy figure reported for cumulative performance under all schemes combined as of March 2024?
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Study Notes
NABARD Overview
- NABARD operates across various sectors, including refinance support, rural infrastructure, district credit planning, and development schemes.
- In the fiscal year (FY) 2023-24, NABARD approved a business target of ₹4.48 lakh crore, leading to a balance sheet of ₹9.04 lakh crore.
- Achieved a year-on-year (YoY) growth of 13.6%, bringing the balance sheet size to ₹9 lakh crore.
- Total disbursements under loan products amounted to ₹4.36 lakh crore, reflecting collaborative efforts of all NABARD staff.
Financial Highlights
- Key disbursement breakdown for FY 2023-24 includes:
- ₹3.16 lakh crore under refinance.
- ₹73,879 crore via different products of BID.
- ₹46,041 crore through products of SPD.
- ₹474 crore under DSM.
- For FY 2024-25, a business budget of ₹5.31 lakh crore has been approved, with expectations to reach ₹10 lakh crore in the balance sheet.
Long Term Rural Credit Fund (LTRCF)
- Established in 2015 by the Government of India to boost investment credit in agriculture.
- Provides long-term refinance support to Cooperative Banks and Regional Rural Banks (RRBs) at concessional rates.
- Accounts for 86% of total landholdings by small and marginal farmers.
- CAGR of LT refinance over the past five years is 11.13%, with remarkable growth observed in FY 2023-24 (24% increase).
- Interest subvention of 3% available, reducing effective rates for beneficiaries to 1%.
Sugar Ethanol Interest Subvention Scheme
- Launched in 2018-19 to boost ethanol production under the 'Ethanol Blended Petrol (EBP)' initiative.
- NABARD manages this scheme, having released ₹570.90 crore to 65 banks as of March 31, 2024.
- Total interest subvention provided to sugar mills stands at ₹930.90 crore, improving claims settlement efficiency through a dedicated portal.
Kisan Rin Portal
- Developed for online submission of KCC-MISS claims by banks; live since December 26, 2022.
- As of March 31, 2024, data entry initiated by 297 Cooperative Banks and 43 RRBs.
- Cumulatively, significant subsidies and scientific storage capacities established through various agricultural schemes.
Interest Subvention Schemes
- Implements crop loan interest subvention scheme for Cooperative Banks and RRBs, offering up to 1.5% subvention on crop loans.
- Additional incentive of 3% for farmers opting for prompt repayment, enabling effective interest rates as low as 4% per annum.
- Released ₹8,297.17 crore under the Interest Subvention Scheme for short-term crop loans during FY 2023-24.
- Interest subvention also extended under DAY-NRLM, with ₹1,036.15 crore disbursed to Women Self-Help Groups (SHGs) through Cooperative Banks and RRBs during the same period.
Additional Initiatives
- NABARD supports projects like the establishment of godowns under the World’s Largest Grain Storage Plan, with foundational work continuing in 2024.
- Collaborations with other organizations for various government schemes reflect an integrated approach to rural development.
Studying That Suits You
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Description
Explore the various initiatives undertaken to support banking infrastructure, including refinancing, rural development, and cooperative banking. This quiz covers the roles in preparing district credit plans, supervising banking institutions, and facilitating government schemes. Test your knowledge on the diverse strategies that promote sound banking practices.
