Library and Digital Innovations at NABARD 2023-24

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Questions and Answers

What is the total number of physical books available in the Central Library at NABARD?

25,834 books

When was the Strategic Planning and Product Innovation Department (SPPID) established?

01 January 2023

How many additional books were added to the Central Library's resource base during the year 2023-24?

26 additional books

Which two companies has NABARD partnered with for the implementation of Core Banking Solutions in Rural Cooperative Banks?

TCS and Wipro Signup and view all the answers

What is the status of the agreement for the TCS B@NCS platform with Rural Cooperative Banks?

Renewed till 31 December 2027 Signup and view all the answers

What is the role of the newly created Technological & Digital Intervention Cell in NABARD?

To cover digital and technological interventions in Rural Financial Institutions Signup and view all the answers

What was one major integration achievement of NABARD in the fiscal year 2023-24?

Integration of Rural Cooperative Banks with Core Banking Solutions Signup and view all the answers

What software versions are being used by the Rural Cooperative Banks as part of the CBS implementation?

TCS BaNCS and Finacle Software Signup and view all the answers

What was the collective outcome of RCBs participating in the common Request-for-Proposal for Cyber Insurance facilitated by NABARD?

The RCBs achieved significantly lower premiums at 0.62% of the limit of liability and comprehensive higher coverage. Signup and view all the answers

How did the new Cyber Insurance policy offered to RCBs differ from the individual policies they previously acquired?

The new policy is more comprehensive in coverage and offered on friendlier terms than past individual policies. Signup and view all the answers

What is the purpose of the KCC Portal developed by NABARD?

The KCC Portal facilitates the underwriting of loans by providing KCC loans integrated with satellite imagery, CIBIL, and UIDAI data for KYC authentication. Signup and view all the answers

Describe the integration aspect of the KCC Portal as approved by the RBI.

The KCC Portal is approved for integration with the RBI's Public Tech Platform for Friction-less Credit (PTPFC) to access various data points related to land records and credit history. Signup and view all the answers

What is the significance of the eNWR Pledge Loan Gateway launched by WDRA with inputs from NABARD?

The eNWR Pledge Loan Gateway aims to ease the flow of pledge loans to the farming community. Signup and view all the answers

What innovative technologies does the KCC Portal utilize to support loan underwriting?

It utilizes satellite imagery data, CIBIL for credit history, and UIDAI for KYC authentication. Signup and view all the answers

Explain how the collective approach to Cyber Risk Insurance benefited RCBs financially.

The collective approach resulted in lower premiums of 0.62%, compared to market trends of 0.75% to 1.25%. Signup and view all the answers

What was the launch date of the e-Kisan Upaj Nidhi on the JanSamarth Portal?

The e-Kisan Upaj Nidhi was launched on 04th March 2024. Signup and view all the answers

How does the KCC Portal enhance the loan application process for banks?

By integrating various data sources, it streamlines KYC authentication and underwriting processes. Signup and view all the answers

What major advantage do RCBs gain from having a common platform for Cyber Insurance?

They benefit from reduced premiums and broader coverage, which would be difficult to achieve individually. Signup and view all the answers

What is the purpose of NABARD's ‘Green Taxonomy’?

It is used in credit assessment and tagging green projects. Signup and view all the answers

When was India's first sub-national climate finance facility launched and with whom?

It was launched on 20th February 2024 with the Government of Goa and the World Bank. Signup and view all the answers

Which multilateral development banks is NABARD engaging with for climate-resilient projects?

NABARD is engaging with the World Bank, ADB, JICA, and GiZ. Signup and view all the answers

What are some identified areas of focus for NABARD's collaborative efforts?

They include green literacy, Zero-carbon food systems, and promoting Agri-tech innovations. Signup and view all the answers

What is the significance of the Shared Services Entity proposed by NABARD?

It will enable cooperative banks to provide tech-led services similar to commercial banks. Signup and view all the answers

How does NABARD plan to ensure cost-effective service delivery to the last mile?

By pooling services within the Shared Services Entity. Signup and view all the answers

What role does the World Bank play in NABARD's sub-national climate finance facility?

The World Bank is a key partner in the initiative. Signup and view all the answers

What is one of the goals regarding Zero-carbon food system transformation mentioned in NABARD’s initiatives?

To promote solar irrigation in agriculture. Signup and view all the answers

What does NABARD's engagement with MDBs primarily focus on?

Co-financing projects and supporting technical and operational aspects. Signup and view all the answers

What will the tech-led CBS+ services by cooperative banks provide?

They will offer services on par with scheduled commercial banks. Signup and view all the answers

What is the primary purpose of the Pledge Loan Scheme based on eNWRs disseminated by NABARD?

The primary purpose is to facilitate lending by onboarding RCBs and RRBs to the Jansamarth portal and create Pledge Loan products on the eNWR Module. Signup and view all the answers

Which organization provided technical support to NABARD for developing the online tool for SHG data collection?

Online PSB Loans Ltd. (OPL) provided technical support. Signup and view all the answers

What is the expected benefit of the Agriculture Infrastructure Fund (AIF) Interest Subvention Portal?

The expected benefit is to enable quick and error-free settlement of interest subvention claims, enhancing bank financing for infrastructure projects. Signup and view all the answers

As of when was the NRLM Interest Subvention Portal launched, and who collaborated with NABARD for its development?

The NRLM Interest Subvention Portal was launched on 11 January 2024, in collaboration with the Ministry of Rural Development (MoRD), GoI. Signup and view all the answers

What key advantage does the NRLM Interest Subvention Portal offer to RRBs and Cooperative Banks?

It reduces the Turnaround Time for claim settlement for WSHGs financed under DAY-NRLM. Signup and view all the answers

What type of events will NABARD organize to promote the Pledge Loan Scheme?

NABARD will organize seminars and awareness camps at state and district levels. Signup and view all the answers

Why is the AIF Interest Subvention Portal undergoing User Acceptance Testing (UAT)?

UAT is conducted to ensure that the portal meets user requirements and functions correctly before going live. Signup and view all the answers

What role does NABARD play in promoting financial inclusion through its online initiatives?

NABARD develops web portals for automating processes that facilitate access to government schemes and financial products. Signup and view all the answers

How does the Pledge Loan Scheme aim to contribute to the agricultural sector?

It aims to provide farmers with more accessible financing solutions through innovative loan products. Signup and view all the answers

In what way does the collaboration between NABARD and banks strengthen rural financial systems?

It enhances the efficiency of claim processes, making financing safer and more reliable for rural businesses. Signup and view all the answers

What strategic partnership did NABARD engage in to highlight the importance of millets?

NABARD executed a week-long campaign in partnership with Radio Mirchi. Signup and view all the answers

How many media interviews were conducted for NABARD's Chairman and top management?

Eighteen media interviews were conducted. Signup and view all the answers

What kind of publication did NABARD produce that linked Geographical Indications to its website?

NABARD produced a QR coded calendar featuring Geographical Indications. Signup and view all the answers

What type of publication received acclaim from various quarters for its depiction of NABARD's initiatives?

The corporate brochure titled 'Beyond Numbers' received much acclaim. Signup and view all the answers

What was the outcome of NABARD's press activities in terms of news publication?

NABARD's news items were published 822 times. Signup and view all the answers

Study Notes

Central Library

Central Library at NABARD Head Office, Mumbai operates under DEAR.
Holds a resource collection of 25,834 books, 21 journals, 68 magazines, 13 newspapers, and 9 digital publications.
26 books were added to the library's inventory in the 2023-24 fiscal year.

Strategic Planning and Product Innovation Department (SPPID)

Established on January 1, 2023, to innovate credit products for agriculture and rural development.
Aims to enhance NABARD's visibility and engagement with stakeholders.
Expanded scope includes digital and technology interventions in rural financial institutions.

Achievements in FY 2023-24

Core Banking Solutions (CBS): Integrated Rural Cooperative Banks (RCBs) with CBS using TCS BaNCS and Finacle software.
Cyber Insurance: Facilitated collective cyber risk insurance for 75 RCBs, achieving lower premiums (0.62% compared to market rates of 0.75%-1.25%).

Digital Technology Developments

KCC Portal: Launched Loan Origination System for KCC loans, integrating with satellite imagery and KYC authentication.
eNWR Pledge Loan Gateway: Developed on JanSamarth Portal for easier access to pledge loans for farmers; launched on March 4, 2024.
SHG Data Collection Tool: Developed an online portal to collect self-help group data for better access to government benefits.
AIF Interest Subvention Portal: Web portal in development to automate interest subvention claims for agriculture projects, currently under user acceptance testing.
NRLM Interest Subvention Portal: Launched January 11, 2024, to automate NRLM claims processing, improving turnaround time for RRBs and cooperative banks.

Climate Financing and Partnerships

Introduced ‘Green Taxonomy’ for climate-based credit assessment and project tagging.
Launched India’s first sub-national climate finance facility on February 20, 2024, in collaboration with Goa and the World Bank.
Engaged with multilateral development banks (MDBs), focusing on climate-resilient projects and sustainable agriculture.

Shared Services Entity

Proposed Shared Services Entity for cooperative banks, offering tech-led CBS+ services to match commercial bank standards, enhancing operational efficiency.

Thematic Advertisements & Media Engagement

Featured NABARD in a special four-page supplement in Economic Times across 14 cities.
Conducted strategic media campaigns, including millets advocacy with Radio Mirchi and co-sponsored events with The Hindu Group.
Engaged in public relations with multiple media interactions, resulting in 822 news publications about NABARD.

Publications

2024 calendar showcases geographical indications supported by NABARD and incorporates QR codes for online access to more information.
Diary features Warli design and motivational quotes, aligning with NABARD's branding initiatives.
Published a corporate brochure highlighting NABARD's contributions and a special publication related to GoI's Campaign 3.0.

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Description

Explore the developments and achievements of NABARD's Central Library and the Strategic Planning and Product Innovation Department for the fiscal year 2023-24. This quiz covers resource collections, digital technology initiatives, and integration of core banking solutions tailored for rural financial institutions.