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(i)
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Particulars of its organisation, functions and duties
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Inspection Department of NABARD was established in October 1999. The Inspection Department is headed by a Chief General Manager who is assisted by a General Manager, Deputy General Managers and other officers and staff in the Department. The core functions of the ID is to critically examine and appraise the functioning of the ROs / TEs / HODs / subsidiaries of NABARD, vis-a-vis their objectives/goals. Inspection covers all areas of NABARD's functioning, i.e., Business Operations, Supervision, Developmental and Promotional activities. It helps in enhancing corporate governance. ID also monitors the Concurrent Audit work at HO and in Regional Offices / Training Establishments. The Department serves as Secretariat for the Audit Committee of the Board (ACB) and is nodal department for Fraud Risk Monitoring. |
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(ii)
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The powers and duties of its officers and employees
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- The officers of Inspection Department have been vested with powers to inspect ROs / TEs / HO Departments / subsidiaries of NABARD
- To issue inspection report to respective units
- Follow-up with the units for compliance on Inspection Report
- Report status periodically to the ACB
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(iii)
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Procedure followed in the decision making process, including channels of supervision and accountability
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Audit Committee of the Board provides guidance to the Department. The following major processes are followed : - Periodicity is decided for inspection of the ROs / TEs and HO departments.
- Inspection reports are issued on completion of Inspection.
- Follow up of compliance for ROs / TEs / HODs / subsidiaries of NABARD.
- Inspection Reports are closed on receipt of satisfactory compliance in respect of all the major observations
Major inspection findings and compliance are reported to ACB.
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(iv)
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Norms set by it for the discharge of its functions
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- ROs which contribute upto 80% business as on 31 March of penultimate year are inspected annually.
- Large and medium ROs which secured inspection rating of 50% or less in the previous inspection are inspected on annual basis till it crosses this threshold.
- ROs whose loan outstanding under new business lines (BID, PODF, UPNRM & DSM) as on last 31 March is more than ?200 crore are inspected annually.
- All other ROs shall be inspected bi-annually.
- All Training Establishments of NABARD once in 2 years.
- All subsidiaries of NABARD annually.
- All direct loan products (excluding loans to governments and banks) and refinance products to NBFCs & NBFC-MFIs will be covered under Credit Audit;
- Credit Audit is taken up in respect of fresh proposals and proposals for renewal of limits (within 6 months of sanction) where combined limit to a unit is above ?100.00 crore;
- Accounts of sister concern/ groups/ associate concerns of above accounts even if the limit is less than ?100.00 crore.
- Concurrent audit of transactions at HO, TEs & ROs is done on continuous basis.
- Risk Based Internal Inspection and Audit (RBIIA) - A sound Risk Based Internal Inspection and Audit (RBIIA) function plays an important role in contributing to the effectiveness of internal control system. The establishment of RBIIA is not only recommended by the Basel Committee on Banking Supervision, but also by RBI, which has issued directions for implementation of a Risk Based Internal Audit system. Accordingly, the Board had approved the RBIIA Policy of the Bank and now preparatory work for its implementation as per the timeline is in progress. As per Board approved policy, the implementation of RBIIA will be done in a phased manner and the entire Bank will be brought under RBIIA framework within a suitable time frame.
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(v)
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Rules, regulations, instructions, manuals and
records, held by it or under its control or used by its employees for
discharging its functions.
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The officers of ID examine the adherence by ROs/ HODs /TEs/ Subsidiaries to the guidelines issued from time to time by HO Departments. Adherence to the guidelines of GOI/RBI/IT authorities, etc., is also examined during the inspection. There is also a checklist for reference |
| (vi)
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A statement of the categories of documents that are
held by it or under its control
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- The Agenda & proceedings to ACB meetings.
- Inspection Reports of units inspected.
- Concurrent Audit Reports of HO departments.
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(vii)
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Particulars of any arrangement that exists for
consultation with or representation by the members of the public in relation to
the formulation of its policy or implementation thereof
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The functions of the Inspection Department pertain to the inspection of NABARD's Accounting Units and subsidiaries. One prominent Chartered Accountant has been co-opted on ACB to seek guidance for formulation of Audit/Inspection policy as per ICAI standards and matters related to Accounting Policy. |
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(viii)
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A statement of the boards, councils, committees and
other bodies consisting of two or more persons constituted as its part or for
the purpose of its advice, and as to whether meetings of those boards,
councils, committees and other bodies are open to the public, or the minutes of
such meetings are accessible for public
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The department has not constituted any board, council, committee, etc. |
| (ix) |
A directory of its officers and employees
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Directory of its Officers and Employees |
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(x)
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The monthly remuneration received by each of its officers and employees, including the system of compensation as provided in its regulations
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Click here |
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(xi)
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Budget allocated to each of its agency, indicating the particulars of all plans, proposed expenditures and reports on disbursements made
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For the year 2021-22,
| Account Head |
Budget |
Actual Expenditure |
| Expenditure towards Consultation Fees |
Rs.61.90 lakh |
Rs 61.87 Lakh |
| Expenditure towards Director’s fees |
Rs. 4.07 Lakh |
Rs. 4.07 Lakh |
| Expenditure towards Consultancy Assignments |
Rs 57 Lakh |
Rs 43.98 Lakh |
| Expenditure on Study & training |
Rs 4.50 Lakh |
Rs 3.02 Lakh |
| Total |
Rs 127.47 Lakh |
Rs 112.94 Lakh |
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(xii)
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Manner of execution of subsidy programmes,
including the amounts allocated and the details of beneficiaries of such
programmes
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ID is not releasing any kind of subsidy. |
| (xiii)
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Particulars of recipients of concessions, permits
or authorizations granted by the organisation
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NIL
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(xiv)
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Details in respect of the information available to
or held by it, reduced in an electronic form
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Inspection Reports and agenda note &
proceedings of ACB are available in electronic form
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(xv)
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Particulars of facilities available to citizens for
obtaining information, including the working hours of a library or reading
room, if maintained for public use
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NIL
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(xvi)
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The names, designations and other particulars of the Public Information Officers
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Available on below link
RTI |
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(xvii)
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Such other information as may be prescribed and thereafter update these publications every year
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NIL
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