In order to provide sustainable solutions to the agriculture and rural development related issues, there is a need to design and develop suite of credit and credit plus products and services for NABARD, its subsidiaries and banking sector at large, which will enhance NABARD’s visibility and engagement with stakeholders.
Accordingly, Strategic Planning and Product Innovation Department (SPPID) was set up as a new department on 01 January 2020 to bring in incremental innovation to its existing products and launch innovative products in tune with changing financial sector landscape, clientele needs and the emerging rural landscape, keeping in focus the mandate of NABARD.
Through its core functions, the Department provides critical insights into the environment, creates a visible focus, reinforces proficiency and realizes shared sense of purpose besides helping the Bank in taking informed decisions.
2. Core functions of the Department
Strategic Planning Functions
- To ensure synergy among goals, objectives and action plans of NABARD with its primary tasks and responsibility
- To review the vision and mission statements and formulate short/medium/long term plans
- To integrate new products into existing product lines based on the external and internal business environment
- To evaluate the performance, culture, communications, etc., and carry out necessary refinement
- To conduct stakeholder interactions, Town hall meetings, Seminars and Conferences on topical subjects to gain greater insight
Product Innovation Functions
- To use private sector finance knowledge and deep sovereign relations of NABARD to deliver innovative products and solutions to effectively respond to the clients’ needs
- To conduct market research on financial products & development activities and develop conceptual framework for product development
- To examine the scope of expanding collaboration with new and emerging partnerships with corporate and philanthropic foundations
- To conduct updated analyses on critical market constraints, improve the products and instruments to provide tailored support to public and private sector clients by deploying tools of data analytics
- To scale up developmental facilitation and promotional initiatives of NABARD into business proposition
- To work in coordination with all the business departments of NABARD besides offering solutions based on research and analytics.
- Formulated a guidance note for credit evaluation of a FPO covering inputs on technical, business, risk mitigation aspects together with a Rating tool to guide and encourage banks for financing FPOs.
- Designed a Model Scheme for financing Water, Sanitation and Hygiene (WASH) activities keeping in view the need to protect human health during infectious disease outbreaks like Covid-19 pandemic.
- Spearheaded the task of incorporating NABSanrakshan Trustee Private Ltd, a wholly owned subsidiary of NABARD under Indian Companies Act, 2013 to manage and administer multiple credit guarantee funds. The Trustee company was incorporated on 13 November 2020 with an authorized capital of Rs. 100 crore and paid up share capital of Rs. 50 crore.
- The department continued to handhold the operations of the subsidiary, instituting Trusts for administering Credit Guarantees in respect of Animal Husbandry Infrastructure Development Fund (AHIDF) and Farmer Producers’ Organisations (FPOs).
- Working on improvements to the lending product "Credit Facility to Federations" for promoting ease of doing business.
- Involved in developing a product to extend financial assistance to State Governments for meeting their obligation of share capital contribution to RRBs.
Shri Sunil Kumar
Chief General Manager
4th Floor, 'E' Wing
C-24, 'G' Block
Tel: (91) 022 -68120019
E-mail Address: email@example.com
Information under RTI – Section 4(1)(b)