Nabard

FROM THE CHAIRMAN

IIn FY2024, the Indian economy demonstrated resilience against significant global challenges, achieving robust growth of 8.2%. By maintaining a growth rate exceeding 7% for the third consecutive fiscal year, India has emerged as the world’s fifth-largest economy, establishing a formidable presence on the global stage.

Shaji K. V.
Chairman

NABARD AT A GLANCE

(Amount as on 31 March 2024)

₹9,10,863 crore

Balance Sheet Size

₹1,83,153 crore

Short-term Refinance

₹1,32,487 crore

Long-term Refinance

₹54,287 crore

Disbursement for Infrastructure creation

India and the World The Economy in FY2024

Average inflation declined to 5.4% in FY2024.
Share of food in monthly per capita consumption expenditure moderated to 46.4% in rural areas.
Credit flow to agriculture marked a 13.6% growth, reaching ₹25.1 lakh crore.
Total agricultural exports stood at $48.8 billion during FY2024.

Cooperatives Tackling Challenges, Building Opportunities

Largest Co-operative movement in the world.
More than 8 lakh cooperative societies with membership base of over 29 crore people.
5 states account for over 57% of the cooperatives in the country.

Investing in a Sustainable Tomorrow

40 climate change projects with a total financial assistance of ₹1,971.56 crore.
3,747 watershed development projects with a cumulative disbursement of ₹2,245.3 crore
1,026 Tribal Development fund projects, benefitting 6.3 lakh tribal families.

Towards Inclusive Development

SHG-BLP reaching 17.8 crore rural households.
73.3 lakh JLGs promoted and financed by banks in FY2024, taking the total JLGs to 331.3 lakh.
Cumulatively sanctioned 7,355 FPOs and sanctioned ₹1,375.2 crore for handholding and capacity building.
Promotion and development of 81 OFPOs in 27 states covering 25,922 beneficiaries.

Financing Rural Infrastructure for Sustainable Development

5.6 lakh km rural roads and 14.1 lakh metre rural bridges constructed under RIDF.
8,161 storage structures (6,243 completed) and 99.6 lakh MT storage capacity created under WIF.
2.5 lakh MT of dry warehouses capacity created under FPF.

Credit Planning and Delivery for Financial Inclusion

Total ST refinance disbursement for FY2024 at ₹1.8 lakh crore; 121% of the target.
LT refinance disbursement touched ₹1.3 lakh crore during FY2024, registering an increase of 23.8%.
Disbursement under CFF at ₹39,240 crore in FY2024; 25% higher.

Supervisory Role of NABARD

357 inspections conducted.
Launched SuperSoft 2.0 for digitalising the supervisory process.

Empowering Rural Financial Institutions

Steady decline in consolidated share of GNPA of StCBs and DCCBs.
The number of loss-making RRBs has steadily declined from 18 in FY2020 to 3 in FY2024.

People—Processes and Policies

52 regular inspections across 26 ROs, 17 HO departments, 2 TEs, and 7 subsidiaries in FY2024.
Launched DIGIDAK to access and track all incoming and outgoing communications organisation wide.

Leveraging Finance for Growth

Balance sheet size exceeded ₹9 lakh crore in FY2024, marking a yearly growth rate of 13.6%.
Infrastructure creation loans stood at ₹2,65,192 crore.
Issued India’s first rupee-denominated, AAA rated social bond.

Success Stories

Discover how NABARD has empowered individuals and communities through transformative interventions, catalysing economic, social, and environmental progress.

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