NABARD Performance Snapshot 2023-24

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Questions and Answers

What was the primary purpose of establishing NABARD according to the NABARD Act of 1981?

To provide and regulate credit and facilities for promoting agriculture and rural development.

Identify the locations of NABARD’s Training Establishments.

Lucknow, Kolkata, and Mangaluru.

How many Regional Offices does NABARD have across India?

31 Regional Offices.

What types of enterprises does NABARD aim to promote?

Micro, small, medium enterprises, and cottage and village industries. Signup and view all the answers

What role do District Development Managers (DDMs) play in NABARD’s structure?

They engage in rural development at the district level. Signup and view all the answers

What are the three broad categories of NABARD's departments?

Financial, Developmental, and Supervision. Signup and view all the answers

Where is NABARD's Head Office located?

Mumbai. Signup and view all the answers

What is the overarching goal of NABARD's initiatives?

To build an empowered and financially inclusive rural India. Signup and view all the answers

What was the overall growth rate in ST refinance disbursements from 2022-23 to 2023-24?

15% Signup and view all the answers

Which category recorded the highest growth rate in disbursements in 2023-24?

Additional ST (SAO) Signup and view all the answers

What was the disbursement amount for ST (Others) in 2023-24?

₹37,933.8 crore Signup and view all the answers

What factors contributed to the low growth in ST-SAO disbursements?

Non-availability of additional funds from RBI. Signup and view all the answers

How much did ST (SAO) disburse in 2022-23?

₹64,224 crore Signup and view all the answers

What was the total ST refinance disbursement in 2021-22?

₹1,52,136 crore Signup and view all the answers

By what percentage did ST (Others) grow from 2022-23 to 2023-24?

30% Signup and view all the answers

What is the function of the credit limit provided under ST (Others)?

Available for activities other than Seasonal Agricultural Operations. Signup and view all the answers

How did the disbursement for SFB change between 2020-21 and 2021-22?

Increased from ₹40 crore to ₹80 crore. Signup and view all the answers

What was the total growth in ST refinance from 2019-20 to 2023-24?

83.4% growth Signup and view all the answers

What is the total cumulative subsidy released under the Rural Godown Scheme and Agri Marketing Infrastructure Scheme as of March 31, 2024?

₹4466.91 crore. Signup and view all the answers

How much scientific storage capacity was created under the New AMI scheme, and what was the associated subsidy released?

203.83 lakh MT with a subsidy of ₹1384.48 crore. Signup and view all the answers

What was the effective interest rate for farmers who make prompt repayments under the crop loan interest subvention scheme?

4% per annum. Signup and view all the answers

As of March 31, 2024, how many units were assisted under the Agri Clinics and Agri Business Centre Scheme, and what was the released subsidy?

3697 units with a subsidy of ₹146.89 crore. Signup and view all the answers

What percentage of interest subvention is provided to banks for crop loans up to ₹3 lakh under the NABARD scheme?

1.5%. Signup and view all the answers

What is the primary focus of the scheme regarding Gramin Haats?

The scheme focuses on developing and upgrading Gramin Haats as farmer-consumer markets and collection points linked to secondary markets. Signup and view all the answers

What percentage of capital cost subsidy is provided for eligible institutions under the scheme?

A capital subsidy ranging from 25% to 33.33% of the capital cost is provided. Signup and view all the answers

How much total subsidy has been settled under the scheme as of FY24?

A total subsidy of ₹1384.48 crore has been settled under the scheme as of FY24. Signup and view all the answers

What was the main objective of the Central Sector Scheme of Agri-Clinics and Agri-Business Centres launched in 2002?

The objective was to supplement public extension efforts by helping qualified agricultural professionals establish agri-ventures. Signup and view all the answers

What type of subsidy was revised to a composite subsidy in the ACABC scheme in 2010?

The subsidy was revised from capital subsidy and interest subsidy to a composite subsidy. Signup and view all the answers

What is the composite subsidy percentage provided for women and SC/ST beneficiaries under the ACABC scheme?

The composite subsidy percentage for women and SC/ST beneficiaries is 44%. Signup and view all the answers

How much total subsidy has been settled under the ACABC scheme during FY24?

A total subsidy of ₹146.89 crore has been settled under the ACABC scheme during FY24. Signup and view all the answers

What is the capital subsidy percentage for beneficiaries from North East and Hill states under the ACABC scheme?

The capital subsidy for beneficiaries from North East and Hill states is 36%. Signup and view all the answers

What is the significance of the claims settled totaling ₹915.42 crore in FY24 under the scheme?

The claims settled of ₹915.42 crore highlight the effective disbursement of subsidies to support agricultural infrastructure. Signup and view all the answers

During which fiscal year did the ACABC scheme claims amount to ₹11.42 crore?

The ACABC scheme claims amounted to ₹11.42 crore during FY24. Signup and view all the answers

What is the effective interest rate for PACS under the AIF interest subvention facility?

1% Signup and view all the answers

Which organization is responsible for managing the Sugar Ethanol Interest Subvention Scheme?

NABARD Signup and view all the answers

As of 31 March 2024, how much total interest subvention has been provided to sugar mills?

₹930.90 crore Signup and view all the answers

What was inaugurated on 24 February 2024 under the World’s Largest Grain Storage Plan?

Eleven Godowns Signup and view all the answers

When was the Kisan Rin Portal launched for online submission of KCC-MISS claims?

26 December 2022 Signup and view all the answers

How much interest subvention was released to banks via the CNA account as of 31 March 2024?

₹570.90 crore Signup and view all the answers

What is the purpose of the Sugar Ethanol Interest Subvention scheme introduced in 2018-19?

To increase the production of ethanol for EBP. Signup and view all the answers

How many Cooperative Banks were active in data entry on the Kisan Rin Portal by 31 March 2024?

297 Signup and view all the answers

How many quarterly claims had been settled under the Sugar Ethanol scheme by the fiscal year 2023-24?

2170 Signup and view all the answers

What infrastructure initiative did the Hon’ble PM lay foundation stones for under the same storage plan?

500 godowns Signup and view all the answers

Study Notes

NABARD Overview

Established under the NABARD Act of 1981 to enhance agriculture and rural development.
Focuses on credit, training, and various financial services for rural sectors, including micro, small, and medium enterprises.
Headquarters located in Mumbai with 31 Regional Offices and 479 District Development Managers (DDMs).

Objectives and Initiatives

Aims for empowered, financially inclusive rural communities through dedicated departments in finance, development, and supervision.
Engages in rural economic activities impacting agriculture, rural crafts, and allied sectors.

Short-Term Refinance Performance (2019-2024)

Total ST refinance in 2023-24 reached ₹1,83,153 crore, achieving a 15% growth from ₹1,58,905 crore in 2022-23.
Significant increases noted in Additional ST (SAO) by 21% and ST (Others) by 30% in 2023-24 compared to previous year.

Short Term Credit & Specific Programs

ST (Others) covers cash credits for a range of non-agricultural activities and offered ₹37,933.8 crore in 2023-24.
Interest subvention of 3% for eligible purposes under the Agriculture Infrastructure Fund (AIF).

Godown Initiative

Eleven godowns inaugurated as part of the World’s Largest Grain Storage Plan.
500 additional godowns laid for foundation under government scheme.

Sugar Ethanol Interest Subvention Scheme

Managed by NABARD since 2018-19 to promote ethanol production for the Ethanol Blended Petrol (EBP) initiative.
₹570.90 crore released to 65 banks through a dedicated account, with cumulative support of ₹930.90 crore to sugar mills.

Kisan Rin Portal

Launched for online submission of KCC-MISS claims by banks, active since December 2022.
297 Cooperative Banks and 43 RRBs engaged in data entry as of March 2024.

Agri Clinics and Agri Business Centres (ACABC)

Scheme started in April 2002 to promote agri-business by qualified professionals.
44% subsidy for women, SC/ST, and candidates from specific regions, 36% for all other beneficiaries.
As of 2023-24, a total subsidy of ₹146.89 crore released under the scheme.

Cumulative Performance Statistics

608.53 lakh MT storage capacity created under Rural Godown and Agri Marketing schemes with ₹4,466.91 crore in subsidies.
203.83 lakh MT capacity under the New AMI scheme with ₹1,384.48 crore in subsidies.

Interest Subvention for Crop Loans

NABARD implements interest subvention of 1.5% on crop loans up to ₹3 lakh, offering effective interest of 4% for prompt repayment.
Continued support approved for the Modified Interest Subvention Scheme for Short Term Loans in 2023-24.

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Description

Explore the performance of NABARD for the financial year 2023-24. This quiz covers the bank's role in supporting agriculture, rural development, and small enterprises. Test your knowledge about NABARD's contributions and initiatives since its establishment in 1981.