Strategic Planning and Product Innovation Department (SPPID) was set up on 1 January 2020 to bring in incremental innovation in the existing products and also launch innovative new products in tune with changing financial sector landscape, clientele needs and the emerging rural landscape as per the mandate of NABARD. 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 engagement with stakeholders and increase visibility. The Strategic Planning function of the Department will provide critical insights into the environment, visible focus, reinforce proficiency and realizing shared sense of purpose besides helping the top management take informed decisions.
2. Core functions of the Department
Strategic Planning Functions
Product Innovation 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;
- 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.
Credit Guarantee Cell Functions
- To design Credit Guarantee schemes and to implement them efficiently;
- To monitor various Credit Guarantee schemes for effective implementation and policy feedback.
- Formulation of a Model Scheme on Water, Sanitation and Hygiene (WASH) activities for banks/ MFIs/ NGOs;
- Devised an institutional mechanism for implementing Credit Guarantee Schemes;
- Formulated a guidance note covering inputs on technical aspects, business aspects, risk mitigation aspects, crucial aspects for credit evaluation of a FPO including cash flow analysis and developed a lendability assessment tool (rating tool) to guide banks for viably financing FPOs