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

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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

1

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.
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2

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.
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3

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.
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4

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.
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5

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.
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6

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.
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7

Supervisory Role of NABARD

  • 357 inspections conducted.
  • Launched SuperSoft 2.0 for digitalising the supervisory process.
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8

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.
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9

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.

10

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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