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Accounts Department
1. Genesis
 
The Accounts department of NABARD became operational in 2008, following the reorganization of the erstwhile Funds and Accounts Department (FAD), which had been managing the accounts related work for NABARD since 1982, the year in which NABARD was set up.

2.Core Functions of the Department
 
The Accounts department has three sections:
  • Central Accounts Section
  • Budget Cell
  • Corporate Tax Cell

 3. The functions of the each of these sections are as follows:
 
I) Central Accounts Section
 
  • Formulate accounting policies/procedures for recording of accounts and maintenance of books
  • Coordinate with statutory auditors for timely completion of limited review at quarterly intervals and statutory audit at the end of the financial year
  • Prepare the balance sheet and profit and loss account of the bank
  • Declare half-yearly financial results
  • Conduct a quarterly review of capital to risk-weighted assets ratio (CRAR), non-performing asset (NPA) accounts/provisioning etc.
  • Monitor and reconcile NABARD’s General Account on a regular basis
  • Provide instructions for annual closing and scrutiny of annual closing statements

II)  Budget Cell
 
  • Prepare budget estimates for revenue and capital expenditure
  • Review expenditure vis-à-vis the budget approved at quarterly intervals

III)  Corporate Tax Cell  
 
  • Handle corporate income tax related issues and tax audit
  • Tax audit
  • Handle service tax related issues
  • Coordination with tax authorities

Contact Information
 
Shri A. K. Sahoo
Chief General Manager
2nd Floor, ‘E’ Wing
C-24, ‘G’ Block
Bandra-Kurla Complex, Bandra (East),
Mumbai -400051
Tel: (91) 022-26528474
Fax: (91) 022-26530050
E-mail: ad@nabard.org