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.
Core Functions of the Department
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.
- Conduct a quarterly review of capital to risk-weighted assets ratio (CRAR), non-performing asset (NPA) accounts/provisioning etc.
- Declare half-yearly financial results
- Conduct of Statutory audit as on 31 March every year.
- Prepare the balance sheet and profit and loss account of the bank
- Coordinate with Consultants for implementation of IndAS.
II) Budget Cell
- Prepare budget for administrative expenditure (revenue & capital)
- Review administrative expenditure vis-à-vis the approved budget at quarterly intervals
III) Corporate Tax Cell
IV) Compliance
- Submit compliance to observations of Statutory Auditors, Concurrent Auditors, Audit Committee of Board, etc.
- Submit periodical returns to RBI.
V) Centralised Receipts Vertical
- Demand Generation and follow-up with Regional Offices / Clients for repayment of loans, payment of interest and other dues, etc.
- Centralised Accounting of loaning and administrative receipts
- Monitoring of Overdue reports
- Obtaining Balance Confirmation Certificate from clients on half-yearly basis.
- Liaison with Regional Offices for payments and receipts
Contact Information
Shri Alok C. Jena
Chief General Manager
2nd Floor, ‘E’ Wing
C-24, ‘G’ Block
Bandra-Kurla Complex, Bandra (East),
Mumbai -400051
Tel: (91) 022-26530019
Fax: (91) 022-26530050
E-mail Address: ad@nabard.org
Information under RTI – Section 4(1)(b)