MIRA
INFORM REPORT
|
Report Date : |
14.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT |
|
|
|
|
Registered
Office : |
A-11, Krishi Vikas Sadan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Year of
Establishment : |
1982 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20000.000 Millions |
|
|
|
|
Legal Form : |
Nationalized Bank |
|
|
|
|
Line of Business
: |
They provides financial solutions for the promotion and development of
agriculture in the rural sector |
|
|
|
|
No. of Employees
: |
4500 (Approximately) (In Office + In Regional Office) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 510000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed bank having fine track. The
bank provides financial solutions for the promotion and development of agriculture
in the rural sector. Trade relations are reported to be regular and as per
commitments. The bank can be considered good for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Ramprasad |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-26539275 |
|
Date : |
13.12.2011 |
LOCATIONS
|
Registered Office : |
A-11, Krishi Vikas Sadan, |
|
Tel. No.: |
91-22-26539895 / 26539275 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office / Regional Office : |
C-24, 'G' Block, Bandra-Kurla Complex, Bandra (East),
Mumbai 400 051, |
|
Tel. No.: |
91-22-26525068 (Accounts Department) 91-22-26530083 / 26539804 (Central Vigilance Cell) 91-22-26521069 / 26539171 (Corporate Planning Department) 91-22-26539575 / 26539521 (Department of Economic Analysis & Research) 91-22-26530024 / 26539006 (Department for Cooperative Revival and Reforms) 91-22-26530189 / 26539696 (Department of Information Technology) 91-22-26541834 / 26539474 (Department of Supervision ) 91-22-26530083 / 26539878 (Development Policy Department (Farm Sector)) 91-22-26524207 / 26539766 (Development Policy Department (Non-Farm Sector) 91-22-26530095 / 26539248 (Finance Department) 91-22-26530057 (Financial Inclusion Department) 91-22-26530094 (General Administration Department) 91-22-26524693 / 26539300 (Human Resources Development Department) 91-22-26524748 / 26539779 (Human Resources Management Department) 91-22-26528221 (Inspection Department) 91-22-26524843 (Institutional Development Department) 91-22-26524926 (Investment Credit Department) 91-22-26530065 (Law Department) 91-22-26530084 (Micro Credit Innovations Department) 91-22-26530096 (Premises Department) 91-22-26524836 (Production Credit Department) 91-22-26530063 (Secretary's Department) 91-22-26530068 (State Projects Department) 91-22-26530039 (Technical Services Department) 91-22-26524693 (Corporate Communications Department) |
|
Fax No.: |
91-22-26530050 (Accounts Department) 91-22-26530060 (Central Vigilance Cell) 91-22-26530096 (Corporate Planning Department) 91-22-26530086 (Department of Economic Analysis &
Research) 91-22-26530023(Department for Cooperative Revival and
Reforms) 91-22-26530087 (Department of Information Technology) 91-22-26530103 (Department of Supervision ) 91-22-26523895 (Development Policy Department (Farm
Sector)) 91-22-26530082 (Development Policy Department (Non-Farm Sector) 91-22-26530099 (Finance Department) 91-22-26530098 (Financial Inclusion Department) 91-22-26530060 (General Administration Department) 91-22-26530102 (Human Resources Development Department) 91-22-26530092 (Human Resources Management Department) 91-22-26530097 (Inspection
Department) 91-22-26530089 (Institutional Development Department) 91-22-26530090
(Investment Credit Department) 91-22-26530062
(Law Department) 91-22-26528141 (Micro Credit
Innovations Department) 91-22-26524694 (Premises
Department) 91-22-26530085 Production Credit Department) 91-22-26530192 (Secretary's
Department) 91-22-26530101
(State Projects Department) 91-22-26530091 (Technical
Services Department) 91-22-26530071 (Corporate Communications Department) |
|
E-Mail : |
ad@nabard.org
/ cvc@nabard.org
/ cpd@nabard.org
/ dear@nabard.org
/ dcrr@nabard.org
/ dit@nabard.org
/ dos@nabard.org
/ dpd.fs@nabard.org
/ dpd.nfs@nabard.org / fd@nabard.org / fid@nabard.org / hrdd@nabard.org / hrmd@nabard.org / idd@nabard.org
/ law@nabard.org
/ mcid@nabard.org
/ s.iyer@nabard.org / shirish.iyer@gmail.com / pd@nabard.org / pcd@nabard.org / secy@nabard.org / spd@nabard.org
/ tsd@nabard.org
/ ccd@nabard.org / pro@nabard.org / nabrepo@nabard.org |
|
|
|
|
Regional offices : |
Located at ·
Andaman
and Nicobar (Port Blair) ·
Andhra Pradesh ( ·
Arunachal Pradesh (Itanagar) ·
·
Bihar ( ·
Chhattisgarh ( ·
·
·
Haryana ( ·
Himachal Pradesh (Shimla) ·
Jammu & Kashmir ( ·
Jharkhand ( ·
Karnataka ( ·
Kerala (Thiruvananthapuram) ·
Madhya Pradesh ( ·
·
Manipur (Imphal) ·
Meghalaya (Shillong) ·
Mizoram (Aizwal) ·
Nagaland (Dimapur) ·
·
Orissa ( ·
Punjab ( ·
Rajasthan (Jaipur) ·
·
Tamil Nadu (Chennai) ·
Tripura (Agartala) ·
Uttar Pradesh ( ·
Uttarakhand (Dehradun) ·
|
DIRECTORS
As on 31.03.2010
|
Name : |
Dr. Prakash Bakshi |
|
Designation : |
Chairman National Bank for Agriculture and Rural Development |
|
|
|
|
Name : |
Mr. D. B.
Gupta |
|
Designation : |
Principal Secretary Department of Agriculture Government of
Rajasthan |
|
|
|
|
Name : |
Mr. Jainti Kumar Batish |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. A. K.
Sinha |
|
Designation : |
Agricultural Production
Commissioner Government of |
|
|
|
|
Name : |
Professor
Trilochan Sastry |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mohd.
Iqbal Khandey |
|
Designation : |
Principal Secretary,
Agricultural Production Department
Government of |
|
|
|
|
Name : |
Mr. K.
Jayakumar |
|
Designation : |
Additional Chief Secretary (Home and Vigilance) Government of Kerala |
|
|
|
|
Name : |
Mr. H. R.
Khan |
|
Designation : |
Deputy Governor Reserve Bank of |
|
|
|
|
Name : |
Mr. Umesh
Kumar |
|
Designation : |
Joint Secretary (BA), Ministry of Finance, Department of Financial Services, Government of |
|
|
|
|
Name : |
Mr. Lakshi Chand |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Shashi Rekha Rajagoplan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. P. K. Basu |
|
Designation : |
Secretary Ministry of Agriculture Department of
Agriculture and Cooperation Government of |
|
|
|
|
Name : |
Mr. B. K. Sinha |
|
Designation : |
Secretary Ministry of Rural Development Government of |
|
|
|
|
Name : |
Mr. Alok Nigam |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Roshan Lal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Letkhogin Haokip |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. L. C. Goyal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M. I. Khandey |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. K. C. Chakrabarty |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. K. G. Karmarkar |
|
Designation : |
Managing Director |
KEY EXECUTIVES
|
Name : |
Mr. S. K. Mitra |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. Amaresh Kumar |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
P. L. Behera |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Dr. Prakash Bakshi |
|
Designation : |
Executive Directors |
|
|
|
|
Name : |
Mr. D. B. Gore |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. K. V. Raghavulu |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. V. Ramakrishna Rao |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. B.B.Mohanty |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. A. K. Mathur |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. C. R. Patnaik |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. B. S. Shekhawat |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. S. G. Rathod |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. R. Narayan |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. A. K. Jain |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. S. Mohapatra |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. C. K. Gopalakrishna |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. P. Satish |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. K. C. Shashidhar |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. Pankaj Pandit |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Dr. Venkatesh Tagat |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. S. C. Kaushik |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. P. Mohanaiah |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. S. T. Raghuraman |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. P. Das |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. Suraj Bhan |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. J. C. Mishra |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. J. K. Kanojia |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. D. P. Mishra |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. M. V. Ashok |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. V. Sreenarayanan |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. G. C. Panigrahi |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. S. G. Siddesh |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. K. K. Gupta |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. T. Moharana |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. S. Akbar |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. A. K. Srivastava |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. B. B. Nayak |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. S. Balan |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. H. K. Talreja |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. M. L. Sukhdeve |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. K. Muralidhara Rao |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. M. M. Mishra |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Mr. D. P. Panda |
|
Designation : |
Chief General Managers (Rural Development Banking Service) |
|
|
|
|
Name : |
Dr. A. K. Bandyopadhyay |
|
Designation : |
Chief General Managers (Economic / Legal / Technical Service) |
|
|
|
|
Name : |
U. N. Srivastava |
|
Designation : |
Chief General Managers (Economic / Legal / Technical Service) |
|
|
|
|
Name : |
Dr. Sandip Ghosh |
|
Designation : |
Chief General Managers (Economic / Legal / Technical Service) |
|
|
|
|
Name : |
V. Kameswara Rao |
|
Designation : |
Chief General Managers (Economic / Legal / Technical Service) |
|
|
|
|
Name : |
Mr. S. Chakrabarty |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. P. C. Sahoo |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. K. Jindal |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. H. R. Dave |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. A. P. Sandilya |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. B. G. Mukhopadhyay |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. G. Chintala |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. K. C. Panda |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training Institutions) |
|
|
|
|
Name : |
Mr. B. K. Dey |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. M. M. Bahet |
|
Designation : |
Chief General Managers (In-Charge Of Regional Offices/ Training
Institutions) |
|
|
|
|
Name : |
Mr. A. B. Das |
|
Designation : |
Deputy General Managers (In-Charge Of Regional Offices/Sub-Office) |
|
|
|
|
Name : |
Mr. N. J. Mupid |
|
Designation : |
Deputy General Managers (In-Charge Of Regional Offices/Sub-Office) |
|
|
|
|
Name : |
Mr. P. L. Negi |
|
Designation : |
Assistant General Manager (In-Charge Of |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
|
Line of Business : |
They provides financial solutions for the promotion and development of
agriculture in the rural sector |
GENERAL INFORMATION
|
No. of Employees : |
4500 (Approximately) (In Office + In Regional Office) |
|
|
|
|
Bankers : |
Reserve Bank of |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Khimji Kunverji and Company Chartered Accountants |
|
Address : |
Suit 52, |
|
Tel. No.: |
91-22-22662550 / 22661270 / 22662011 |
|
Fasimile : |
91-22-22664045 |
|
E-Mail : |
FINANCIAL DATA
[all figures are
in Rupees Millions]
BALANCE SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
FUNDS AND
LIABILITIES |
|
|
|
|
|
|
|
Capital (Under Section 4 of the NABARD Act, 1981) |
20000.000 |
20000.000 |
|
Reserve Fund and Other Reserves |
106745.996 |
95352.060 |
|
National Rural Credit Funds |
159830.000 |
155710.000 |
|
Funds out of grants received from International Agencies |
1498.764 |
1548.179 |
|
Gifts, Grants, Donations and Benefactions |
47080.854 |
51110.193 |
|
Other Funds |
27350.635 |
21018.068 |
|
Deposits |
699960.203 |
521271.235 |
|
Bonds and Debentures |
200043.812 |
236994.370 |
|
Borrowings |
51777.968 |
35929.414 |
|
Current Liabilities and Provisions |
48633.089 |
42827.613 |
|
Total |
1362921.321 |
1181761.132 |
|
Forward Foreign Exchange Contracts (Hedging) as per contra |
5636.554 |
6345.679 |
|
|
|
|
|
PROPERTY AND
ASSETS |
|
|
|
Cash and Bank Balances |
96283.376 |
139752.105 |
|
Investments |
37854.964 |
29946.830 |
|
Advances |
1205058.457 |
988526.706 |
|
Fixed Assets |
2347.183 |
2471.714 |
|
Other Assets |
21377.341 |
21063.777 |
|
Total |
1362921.321 |
1181761.132 |
|
Forward Foreign Exchange Contracts (Hedging) as per contra |
5636.554 |
6345.679 |
|
Commitment and Contingent Liabilities |
|
|
|
Significant Accounting Policies and Notes on
Accounts |
|
|
PROFIT & LOSS
ACCOUNT
|
INCOME |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
Interest received on Loans and Advances |
66533.146 |
56930.222 |
|
Income from Investment Operations / Deposits |
12127.343 |
12148.126 |
|
Discount and Commission |
429.550 |
925.516 |
|
Other Receipts |
557.962 |
502.952 |
|
Total “A” |
79648.001 |
70506.816 |
|
EXPENDITURE |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
Interest and Financial Charges |
49884.558 |
42559.025 |
|
Establishment and Other Expense |
5479.774 |
6933.857 |
|
Provisions |
1326.206 |
924.981 |
|
Depreciation |
232.936 |
213.642 |
|
Total “B” |
56923.474 |
50631.505 |
|
Profit before Tax (A - B) |
22724.527 |
19875.311 |
|
a) Provision for Income Tax |
6470.000 |
6740.000 |
|
b) Provision for Deferred Tax - (Asset) |
671.900 |
(802.000) |
|
c) Provision for Fringe Benefit Tax |
0.000 |
36.000 |
|
Profit after Tax |
15582.627 |
13901.311 |
PROFIT AND LOSS APPROPRIATION ACCOUNT
|
APPROPRIATIONS / WITHDRAWALS |
31.03.2010 |
31.03.2009 |
|
Profit for the year brought down |
15582.627 |
13901.311 |
|
Add: Withdrawals from
Funds against expenditure debited to Profit & Loss A/c |
|
|
|
a) Co-operative Development Fund |
38.304 |
38.114 |
|
b) Research and Development Fund |
98.299 |
87.611 |
|
c) Watershed Development Fund |
447.044 |
249.146 |
|
d) Micro Finance Development and Equity Fund |
100.105 |
99.270 |
|
e) Farm Innovation & Promotion Fund |
9.694 |
7.340 |
|
Financial Inclusion Technology Fund |
10.000 |
0.000 |
|
Profit available for Appropriation |
16286.073 |
14382.792 |
|
Less: Transferred to: |
|
|
|
a) Special Reserve u/s 36(1) (viii) of IT
Act, 1961 |
3500.000 |
3400.000 |
|
b) National Rural Credit (Long Term
Operations) Fund |
4000.000 |
4000.000 |
|
c) National Rural Credit (Stabilisation)
Fund |
100.000 |
100.000 |
|
d) Co-operative Development Fund |
38.304 |
38.114 |
|
e) Research and Development Fund |
98.299 |
87.611 |
|
f) Investment Fluctuation Reserve (Refer
Schedule 1) 30,00,00,000 42,00,00,000 |
300.000 |
420.000 |
|
g) Financial Inclusion Fund |
0.000 |
185.000 |
|
h) Financial Inclusion Technology Fund |
0.000 |
325.000 |
|
i) Farmers Technology Transfer Fund |
645.841 |
316.142 |
|
j) Farm Innovation & Promotion Fund |
9.693 |
465.558 |
|
k) MFDEF Reserve Fund |
800.000 |
0.000 |
|
l) Reserve Fund |
6793.936 |
5045.367 |
|
Total |
16286.073 |
14382.792 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
9724.001 |
5966.160 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
Rural Economic Environment
1. The Indian economy is estimated to have
registered a growth rate of 7.4 per cent in 2009-10 as against 6.7 per cent
witnessed in 2008-09, while the global economy is expected to dip from 3.0 per cent
in 2008 to (-) 0.6 per cent in 2009. At
the sectoral level, the growth rates during 2009-10 over 2008-09 are expected
to be 8.5 per cent (56.9 per cent of GDP) for services, 9.3 per cent (28.5 per
cent of GDP) for industry and 0.2 per cent (14.6 per cent of GDP) for
agriculture.
2. The Gross Domestic Savings as a proportion
to GDP declined from 36.4 per cent during 2007-08 to 32.5 per cent during
2008-09 and this is estimated to increase to 34.0 per cent during 2009-10. It
is estimated that the Gross Domestic Investment as a proportion to GDP
marginally decelerated from 35.6 per cent during 2008-09 to 35.0 per cent
during 2009-10. The overall share of consumption expenditure, both private and
public, in GDP, is estimated to decline marginally from 70.9 per cent in
2008-09 to 69.4 per cent in 2009-10
3. The inflation rate as measured by
variations in the wholesale price index on a monthly basis remained volatile
during 2009-10. The overall inflation rate decreased from 8.4 per cent during
fiscal 2008-09 to 3.8 per cent during fiscal 2009-10, but during the same
period, the food inflation increased from 8.0 per cent to 14.6 per cent.
4. During South-West monsoon (June-September) 2009,
the country received 36 per cent less than the Long Period Average (LPA)
rainfall and during post-monsoon season (October-December), the rainfall
received was 8 per cent above the LPA.
5. The impact of the delayed and sub-normal
monsoon was reflected in reduced area under crop cultivation during kharif
season. Taken together for kharif and rabi seasons, the crop coverage during
2009-10 at 157.6 million hectares was 3.2 per cent lower than that during
2008-09. The major changes in cropping
pattern during 2009-10 over 2008-09 were in rice [(-) 14.3 per cent], cotton
(13.4 per cent), pulses (5.7 per cent) and oilseeds [(-) 4.6 per cent]
6. As against the target of Rs.3250000.000
Millions of credit flow to agriculture for 2009-10, the banking system disbursed
Rs.3669190.000 Millions (provisional) as on 31 March 2010, achieving 12.9 per
cent more than the target. Commercial banks, Co-operative banks and
Regional Rural Bank s
disbursed Rs.2749630.000 Millions,
Rs.575000.000 Millions and Rs.344560.000 Millions, respectively. Their corresponding shares in credit flow
were 84.6 per cent, 17.7 per cent and 10.6 per cent, respectively.
7. The Gross Capital Formation in agriculture
and allied sectors in real terms increased from Rs.788480.000 Millions in 2004-05
to Rs.1385970.000 Millions in 2008-09 – an increase of 76 per cent in four
years. The GCF in agriculture and allied sectors as a proportion of total GDP
stood at 2.7 per cent in 2004-05 and improved to 3.3 per cent in 2008-09.
8. During 2009-10, 5.97 million Kisan Credit
Cards were issued by banks with credit limits of Rs.174110.000 Millions. Of the
total 90.64 million credit cards issued by February 2010, 39.80 million cards
(43.9 per cent) were issued by commercial banks, followed by 37.76 million
cards (41.7 per cent) by co-operative banks and 13.08 million cards (14.4 per
cent) by regional rural banks
9. According to the 3rd advance estimates, the country’s foodgrain
production during 2009-10 has been pegged at 218.19 million tonnes as compared
to 234.46 million tonnes during 2008-09.
10. During 2008-09, while the area under
various horticulture crops increased by 2.5 per cent from 20.2 million hectares
during 2007-08, production increased by 3.6 per cent from 212.8 million tones
during 2007-08.
11. During 2008-09, the livestock and
fisheries sector contributed over 4.0 per cent of the total GDP and about 33.34
per cent value of output from agriculture and allied activities. As a result of the increase in milk
production in the country by 3.5 per cent during the period between 2007 - 08 and 2008-09, the
per capita availability of milk increased from 252 grams per day to 258 grams
per day. Similarly, fish production increased by 7.0 per cent between 2007-08
and 2008-09.
12 . The rise
in the MSP
for common paddy, moong and wheat
during 2009-10 over
the year 2008-09 were 11.8 per cent , 9.5 per cent
and 1.8 per cent , respectively. Giving due consideration for margins
to farmers on account of risk as
well as profit on the
cost
of production including
the cost of transportation, the
Government of India has fixed the
Fair and Remunerative Price
(FRP) of sugar cane at Rs
.129.84 per quintal during
2009-10, which was over 51 per cent
higher than the Statutory
Minimum Price for the
year 2008-09. For the
year 2010-11 seasons , the
Government has hiked the
FRP of sugar cane by 7
per cent at Rs 139.12 per quintal .
13. The
stock of food grains
( rice and wheat ) held by Food Corporation of India as on April
1, 2010 at 42.84 million tonnes was higher by 22.30 per cent over the level of
35.03 million tonnes as on April 1, 2009. The
off - take of food grains (rice
and wheat) under Targeted Public Distribution System (TPDS) and other Schemes
at 48.86 million tonnes during 2009-10 was 23.70 per cent higher than that at
39.50 million tones during 2008-09.
14. NABARD disbursed Rs.254850.000 Millions
against the claims of Rs.258580.000 Millions under the Agricultural Debt Waiver
and Debt Relief Scheme, 2008. The share of SCB, SCARDB and RRB stood at
Rs.156810.000 Millions, Rs.35130.000 Millions and Rs.62910.000 Millions,
respectively
Development
Initiatives
Farm sector
15. During the
year, 59 watershed projects were sanctioned taking the cumulative number to
513, spread over 94 districts in 14 States. Under the Prime Minister’s Relief
Package for 31 districts in four States, 0.283 Million ha. was taken up for
implementation during the year, taking the cumulative area to 0.871 Million ha. and aggregate financial commitment to
Rs.9580.000 Millions. During 2009-10, Rs.894.100 Million and Rs.147.900
Millions were disbursed as grant and loan, respectively, taking such cumulative
disbursements to Rs.1977.700 Millions and Rs.300.000 Millions, respectively.
Under the Special Plan for Bihar component of Rashtriya Sam Vikas Yojana, the
number of watershed projects sanctioned rose to 79 by the end of the year,
covering an area of 83,593 ha in eight districts in
16. The Village
Development Programme had been implemented in 953 villages of 437 districts across
25 States, as on 31 March 2010. Under the Tribal Development Fund, financial
assistance of Rs.2361.900 Millions was sanctioned during the year for 79
projects, benefiting 63,113 tribal families. As on 31 March 2010, Rs.5436.200
Millions had been sanctioned for 191 projects benefiting 1,56,330 families.
17. The corpus of
the Farm Innovation and Promotion Fund was enhanced from Rs.50.000 Millions to
Rs.500.000 Millions and 17 proposals in 11 states with financial assistance of Rs.15.537 Millions
were sanctioned during the year. Cumulatively, 78 projects with financial
support of Rs.61.800 Millions have been sanctioned, of which 25 projects with
financial assistance of Rs.10.400 Millions have been completed. The corpus of
Farmers’ Technology Transfer Fund was also enhanced during the year from
Rs.250.000 Millions to Rs.500.000 Millions and 151 diverse and innovative
proposals for transfer of technologies were sanctioned a grant assistance of
Rs.48.800 Millions in 22 states. During the year, 16,590 Farmers’ clubs were
launched taking the total number of clubs to 54,805 covering 1,04,648 villages
in 587 districts. Under the scheme of ‘
18. During the
year, a “Pilot project for augmenting productivity of lead crops/activities
through adoption of sustainable agricultural practices” was launched in 900
villages at the national level with the aim of augmenting income of the farmers
through enhanced production and productivity of lead crops/activities.
Rural Non-Farm
Sector
19. During
2009-10, 155 innovative projects were sanctioned under the Rural Innovation
Fund, taking the cumulative number to 252. An amount of Rs.177.000 Millions was
sanctioned taking the cumulative commitment to Rs.383.700 Millions, as on 31
March 2010. An amount of Rs.106.900 Millions was disbursed during the year for
252 projects taking the cumulative disbursements to Rs.179.900 Millions.
20. The District
Rural Industries Project was extended to 106 districts by March 2007 and 43 of
them phased out by 2007-08, on successful implementation. During 2009-10, GLC
flow in 42 districts covered under various phases reached Rs.6759.900 Millions
and refinance availed of was Rs.111.100 Millions. In all, 45,701 units were set
up generating employment for 0.142 Million persons. Since inception, GLC flow
aggregated Rs.242951.100 Millions, facilitating establishment of 1.950 Millions
units and generating employment opportunities for 4.448 Million persons. The
cumulative refinance availed amounted to Rs.36584.600 Millions as on 31 March
2010.
21. The ‘Scheme
for Strengthening of Rural Haats’ introduced in 1999 in DRIP districts was
extended to all districts, village bazaar boards, SHGs, NGOs and to PRIs/PACS,
during the year. The quantum of assistance was increased to Rs.0.500 Millions
from Rs.0.300 Millions and coverage extended to include permanent structure/s
as per local requirements. During 2009-10, grant support of Rs.29.872 Millions
was sanctioned to 87 rural haats.
22. During
2009-10, 15 participatory clusters, including two rural tourism, were
sanctioned with a total grant support of Rs.22.500 Millions and five
on-location cluster workshops were conducted, taking the total number of such
programmes to 25.
23. As on 31 March
2010, 116 Women Development Cells were supported in 58 RRBs, 55 Co-operative
banks and three SCARDBs, with disbursement of Rs.4.039 Millions to address
gender issues in credit and support services. Under
Marketing of
Non-Farm Products of Rural Women and Assistance to Rural Women in Non-Farm
Development schemes, grant support of Rs.0.692 Millions and Rs.1.756 Millions,
respectively, were released as on 31 March 2010.
24. During
2009-10, 263 marketing events/ exhibitions, were supported with grant
assistance of Rs.14.613 Millions. To enable rural artisans/craftsmen realise
remunerative prices and to establish marketing linkages, 119 rural marts in 22
States were sanctioned grant assistance of Rs.13.391 Millions, during 2009-10.
Cumulative grant support of Rs.33.252 Millions had been provided to 321 rural
marts across 22 States.
25. During the
year, 1.02 lakh Swarojgar Credit Cards (SCC) with credit limits of Rs.4110.500
Millions were issued for facilitating hassle-free availability of credit for
investment and working capital requirements of small/micro-entrepreneurs. The
cumulative number of SCC was 1.086 Millions involving credit limit of Rs.44183.800
Millions
Financial Inclusion
26. The total
contribution under Financial Inclusion Fund (FIF) and Financial Inclusion
Technology Fund (FITF) stood at Rs.500.000 Millions each as on 31 March 2010.
As on 31 March 2010, 50,225 villages have been covered under Financial
Inclusion through FIF and FITF with a sanction amount of Rs.19.47 and
Rs.218.300 Millions, respectively. NABARD and UNDP have entered into
collaboration for financial inclusion in seven states with focus on
SCs/STs/minorities. NABARD has also collaborated with Indian Institute of
Banking and Finance (IIBF), Post Offices and Farmers’ Clubs in providing
financial support for SCs/STs and Women.
Microfinance
27. The
Microfinance programme in
28. During
2009-10, an amount of Rs.204.900 Millions was released as grant support for SHG
promotional activities and Rs.604.200 Millions to MFIs for capital
support/Revolving Fund Assistance (RFA) as against Rs.187.300 Millions and
Rs.159.300 Millions in the previous year, respectively. During 2009-10, grant
assistance of Rs.287.800 Millions was sanctioned to various agencies for
promoting 71,268 SHGs, taking the cumulative assistance sanctioned to
Rs.1076.600 Millions for 4,92,746 groups as on 31 March 2010. The cumulative
disbursement was Rs.403.800 Millions for 2,36,683 SHGs. An expenditure of
Rs.99.300 Millions was incurred for capacity building initiatives for all
stakeholders in the SHG segment.
29. During the
year, grant support of Rs.0.676 Millions was given for the rating of five MFIs.
During the year, capital support of Rs.68.700 Millions was sanctioned to 10
agencies taking the cumulative support to Rs.278.700 Millions for 33 agencies
and RFA amounting to Rs.230.000 Millions was sanctioned to 13 agencies, taking
the cumulative credit sanctioned to Rs.740.200 Millions to 42 agencies.
30. Under the
Rajiv Gandhi Mahila Vikas Pariyojana (RGMVP), 21,868 SHGs were promoted in
select districts of Uttar Pradesh, of which 12,749 were credit linked as on 31
March 2010. In addition, 676 Cluster Level Federations and 15 Block Level
Federations were also formed.
31. During the
year, 1530 Micro-Enterprise Development Programmes (MEDPs) were conducted for
38,313 SHG members on location-specific farm, non-farm and service sector
activities. Cumulatively, 2,843 MEDPs were conducted for 71,518 participants as
on 31 March 2010.
32. NABARD
continued to extend support for SHG-Post Office Linkage Programme in Tamil
Nadu. NABARD sanctioned additional Rs.20.000 Millions RFA to India Post for
onward lending to SHGs. Cumulatively, 2828 SHGs have opened zero-interest
savings accounts, of which 1,195 SHGs have been credit linked by Post Offices,
with loans amounting to Rs.32.125 Millions as on 31 March 2010. RFA of Rs.0.500
Millions for on-lending to 50 SHGs in East Khasi Hills in Meghalaya was also
sanctioned to India Post.
33. A survey
conducted by NABARD-GTZ Rural Finance Institutions Programme (RFIP) revealed
that 786 MFOs were in existence in 13 priority states, with a high geographical
concentration (75%) in two states (Andhra Pradesh and Tamil Nadu) and the
remaining scattered over 11 states.
34. Under the
NABARD-KfW SEWA Bank project under implementation in
NABARD Consultancy Services
35. During the
year, Nabcons opened a liaison office in
Research and Development Fund Activities
36. During the
year, Rs.98.298 Millions was utilized from the RandD Fund for activities like
research projects/ studies (Rs.10.003 Millions), seminars (Rs.6.116 Millions),
training/summer placement (Rs.80.284 Millions), and other activities (1.897
Millions). As on 31 March 2010, the cumulative disbursement stood at
Rs.1185.200 Millions. During 2009-10, nine research projects and 112 seminars
involving grant assistance of Rs.13.710 Millions and Rs.8.871 Millions were
sanctioned respectively. An amount of Rs.78.732 Millions was utilised from the
RandD Fund during the year for capacity building of the staff of Rural
Financial Institutes (RFIs). During 2009-10, under the Summer Placement Scheme,
projects on agriculture and rural development, allied sector, agri-business and
social development were assigned to 57 students by 21 ROs, TE and HO, entailing
an expenditure of Rs.1.552 Millions.
Other Development Initiatives
37. The Centre for
Microfinance Research (CMR) in BIRD brought out the first issue of its
half-yearly journal, ‘The Microfinance Review’. During the year, grant
assistance of Rs.7.000 Millions was released by NABARD to CMR taking the
cumulative assistance to Rs.19.418 Millions. An APRACA Centre of Excellence
(ACE) in Linkage Banking was set up in CMR, as a Leading Centre of Knowledge in
Linkage Banking.
38. During the year,
NABARD sanctioned grant assistance of Rs.0.753 Millions to National Institute
of Rural Banking (NIRB),
39. Financial
support of Rs.39.020 Millions from the Co-operative Development Fund (CDF) was
disbursed to the Junior Level Training Centres (JLTCs), Agricultural
Co-operative Staff Training Institutes (ACSTIs) and Integrated Training
Institutes (ITIs) for conducting 1019 programmes covering 12,088 participants
during 2009-10.
Business Operations
40. The total
financial support extended by NABARD in 2009-10 was Rs.570690.000 Millions,
registering a growth of 13 per cent over 2008-09.
Production Credit
41. As an
incentive to co-operative banks that covered the maximum number of new farmers
during 2008-09 in the wake of implementation of ADWDR Scheme, 2008, additional
credit limits were provided. Again, credit limit applications were exempt from
being routed through RCS, in states, which had executed MoU for implementing
the GoI package for revival of Short Term Co-operative Credit Societies (STCCS)
and amended their Co-operative Societies Acts. Relaxations were also granted to
co-operative banks not complying with Section 11(1) of Banking Regulation Act,
1949 (AACS).
42. During
2009-10, ST-SAO limits were sanctioned to 20 SCBs aggregating Rs.181090.000
Millions as against Rs.154480.000 Millions sanctioned during 2008-09. The
credit limits included Rs.1,8099.500 Millions for the Oilseeds Production
Programme (OPP), Rs.1556.200 Millions for National Pulses Development Programme
(NPDP) and Rs.5929.900 Millions for credit requirements of tribals under the
Development of Tribal Population (DTP). The SCBs reached a maximum outstanding
credit of Rs.174366.600 Millions during 2009-10, with a utilisation of 96 per
cent.
43. During
2009-10, ST (weavers) credit limits aggregating Rs.1773.200 Millions were sanctioned
to five State Co-operative Bank (SCBs) (Andhra Pradesh, Karnataka, Puducherry,
Tamil Nadu and
44. During the
last three years, 4,172 Handloom Weavers’ Groups (HWGs) were formed by banks in
12 States [viz., Orissa (1366), Andhra Pradesh (1220), Jharkhand (500),
Karnataka (498),
45. ST refinance
to State Co-operative Agriculture and Rural Development Bank (SCARDB) for
Seasonal Agricultural Operations (SAO) was continued during the year, with a
refinance of Rs.959.200 Millions extended to Kerala (Rs.748.700 Millions) and
Rajasthan (Rs.210.500 Millions) SCARDBs at 4.5 per cent, for lending to the
ultimate borrowers at 7 per cent.
46. During
2009-10, limits of Rs.68321.300 Millions were sanctioned to 80 RRBs under
ST-SAO as against Rs.35468.100 Millions sanctioned to 76 RRBs in 2008-09. The
limits included Rs.5778.500 Millions for OPP, Rs.1438.600 Millions for DTP and
Rs.40.000 Millions for NPDP. The maximum outstanding was Rs.67797.900 Millions,
forming 99 per cent of the limit sanctioned during 2009-10.
47. The aggregate
limit for ST-OSAO sanctioned to RRBs during 2009-10 was Rs.5420.000 Millions,
as against Rs.1908.000 Millions last year. The maximum utilization was
Rs.3182.400 Millions (59%).
48. Aggregate
interest subvention of Rs.12845.600 Millions was provided by GoI to NABARD,
co-operative banks and RRBs for the year 2007-08. An amount of Rs.12051.700
Millions has been disbursed for 2008-09. Interest subvention for 2009-10 was
estimated at Rs.26000.000 Millions
49. NABARD
continued to act as the nodal agency for the package announced by GoI for
assisting co-operative sugar mills for loans availed of from co-operative
banks. Out of Rs.1385.400 Millions received from GoI as interest subvention,
Rs.1312.200 Millions pertaining to 76 co-operative sugar mills, was released to
the co-operative banks. An additional sum of Rs.1130.700 Millions was estimated
as claims from banks for 2008-09, 2009-10 and 2010-11. Under the Scheme for
‘Providing Financial Assistance to Sugar Undertakings–2007’ for payment of cane
dues for 2006-07 and 2007-08 sugar seasons, GoI placed Rs.1257.100 Millions
with NABARD, for release against interest subvention claims. An amount of Rs.609.700
Millions was sanctioned to 59 sugar mills operating in Goa, Gujarat, Karnataka,
Maharashtra, Orissa and
Uttar Pradesh.
50. The rates of
interest on refinance under ST(SAO) and ST(Others) to co-operative banks, RRBs and
scheduled commercial banks during 2009-10 varied between a minimum of 4 per
cent and a maximum of 8.5 per cent for different purposes.
Investment Credit
51. NABARD
continued granting relaxation to commercial banks, co-operative banks and RRBs
in NER and
52. The release of
refinance to SCARDBs as also SCBs/DCCBs for farm and non-farm sector activities
was against Govt. guarantee. However, SCBs that were in profit during 2007-08
with no accumulated losses, net NPA less than 5 per cent as on 31 March 2008
and having ‘A’ Audit classification were exempted from Govt. guarantee.
Refinance to other SCB, including Section 11(1) of BR Act (AACS), noncompliant
SCBs/DCCBs and to non-scheduled SCBs was only against Government. guarantee. In
the event of Government guarantee not forthcoming, alternatives like pledge of
government securities or fixed deposit receipts issued by scheduled banks were
considered.
53. With effect
from 01 March 2010, the interest rates charged were, 8 per cent for commercial
banks, 7.5 for RRB/co-operative banks and 6.5 for ADFC/ NEDFi. The rates on
interim finance to SCARDBs and ADFCs were 9.75 and 6.5 per cent respectively. A
special reduction of 50 basis points was provided to commercial banks in NER,
hilly states,
54. The refinance
disbursed (including ST-SAO to SCARDBs) during the year touched Rs.120090.800
Millions as against Rs.105352.900 Millions last year, recording an increase of
14 per cent. Commercial banks had the major share at 50.4 per cent. Across the
regions, refinance disbursement varied widely with the major share going to the
South (50%) followed by North (20%), Central (12%) and others (18%). During the
year, Non Farm Sector (NFS) (28.86%) and Self-Help Groups (SHG) (26.42%) were
the major sectors for which banks availed of refinance, followed by Farm
Mechanisation (14.3%) and Dairy Development (6%).
55. Eight new
co-finance projects were sanctioned during the year with total financial outlay
(TFO) of Rs.621.300 Millions taking the cumulative number of projects
sanctioned to 48 with cumulative TFO of Rs.8075.200 Millions. An amount of
Rs.119.900 Millions was sanctioned during the year. NABARD’s cumulative
sanction and disbursement were Rs.2294.400 Millions and Rs.1363.500 Millions,
respectively. As on 31 March 2010, there were 38 on-going cofinance projects.
56. During the
year, 60 projects were sanctioned under cold storages/onion godowns with TFO
of Rs.1298.100 Millions, bank loan of
Rs.777.700 Millions and subsidy of Rs.302.800 Millions. As on 31 March 2010,
1,851 projects had been sanctioned involving TFO of Rs.29005.900 Millions, bank
loan of Rs.16346.700 Millions and subsidy of Rs.4435.800 Millions,
respectively. The cumulative capacity created under cold storages and storage
facilities for onion as on 31 March 2010 stood at 76.74
57. During the
year, 963 rural godown projects were sanctioned with TFO of Rs.2819.200
Millions, bank loan of Rs.1968.200 Millions and subsidy of Rs.654.400 Millions,
respectively. Cumulatively, as at end March 2010, 17,556 rural godown projects
were sanctioned, involving TFO of Rs.37985.800 Millions, bank loan of
Rs.2,504.08 crore and subsidy of Rs.5789.700 Millions. The cumulative capacity
created under rural godown scheme as on 31 March 2010 stood at 221.45
58. The scheme of
Agricultural Marketing Infrastructure, Grading and Standardisation has been in
operation since 2004. During the year, 573 projects with TFO of Rs.63.790
Millions and bank loan of Rs.4195.400 Millions were sanctioned and subsidy of
Rs.498.900 Millions was released to 21 States and 5 UT. Cumulatively, 3,838
units with TFO and bank loan of Rs.19335.600 Millions and Rs.12831.300
Millions, respectively, were sanctioned and subsidy of Rs.1908.900 Millions was
released.
59. The scheme of
Agri-Clinics and Agri-Business Centres (ACABC) was started in 2006-07. A
subsidy of Rs.16.100 Millions was disbursed for 76 projects involving TFO of
Rs.59.900 Millions and bank loan of Rs.46.600 Millions during the year. Till 31
March 2010, 280 projects with TFO of Rs.208.700 Millions, bank loan of
Rs.159.800 Millions and subsidy of Rs.30.900 Millions were sanctioned.
60. Under the
Capital Investment Subsidy Scheme for Commercial Production of Organic Inputs,
net subsidy of Rs.104.233 Millions had been released to 612 units as on 31
March 2010.
61. Potential
Linked Plan (PLP) for 623 districts were prepared during the year, to serve as
a guide in credit planning exercise and infrastructure development for 2010-11.
Three new District Development Managers’ offices were opened, taking the total
number of DDM offices to 395. In addition, 100 districts were tagged to
specific DDM districts.
Rural Infrastructure Development
62. The RIDF,
started in 1995-96, had an aggregate corpus of Rs.1000000.000 Millions till RIDF
XV (2009-10). Additionally, a separate window was introduced in 2006-07 for
funding rural roads component of Bharat Nirman Programme, with allocation of
Rs.185000.000 Millions, till 2009-10. The total allocation for RIDF, thus,
stood at Rs.1185000.000 Millions, as on 31 March 2010.
63. During the
year 2009-10 (RIDF – XV), 39,015 projects were sanctioned involving loan amount
of Rs.156298.200 Millions, taking the cumulative number of projects to 4,02,806
and sanctioned amount to Rs.1037180.000 Millions (RIDF I to XV), of which
Rs.855973.800 Millions had been phased. Of the total amount sanctioned during
the year, rural roads accounted for 29 per cent, irrigation projects 27 per
cent, social sector projects 16 per cent, bridges 15 per cent and agri-related
13 per cent.
64. Disbursement
during 2009-10, under the ongoing tranches amounted to Rs.123875.400 Millions
taking the cumulative disbursements to Rs.684397.400 Millions, forming
utilisation of 80 per cent. Additionally, an amount of Rs.65000.000 Millions
was disbursed to the National Rural Roads Development Agency (NRRDA) under
Bharat Nirman Programme (BNP), taking the total disbursements during the year
to Rs.188875.400 Millions. The cumulative disbursement, as on 31 March 2010,
touched Rs.869397.400 Millions, including Rs.185000.000 Millions under BNP.
Disbursements under RIDF I to IX have been closed, while disbursements
continued under RIDF X to XV.
65. With the
receipt of Rs.163959.500 Millions as deposits from commercial banks in 2009-10,
the cumulative deposits received under RIDF stood at Rs.827253.800 Millions.
The rate of interest payable by NABARD on these deposits continued to be at
Bank rate (at present 6%). An amount of Rs.42480.700 Millions was received from
State Governments towards repayment of RIDF loans during 2009-10. The total
RIDF loan outstanding was Rs.602554.500 Millions as at end March 2010.
66. During the
year, NABARD carried out monitoring of 6,670 projects through field visits. As
on 31 March 2010, the RIDF projects had created additional irrigation potential
of 156.53 lakh ha, 3.04 lakh km length of rural roads and 5.84 lakh metre
length of rural bridges and generated recurring employment of 81.17 lakh jobs
and non-recurring employment of 57,853 lakh person days.
Evaluation and Commodity Specific Studies
67. Six DRIP
studies conducted during the last two years revealed that the RNFS units in the
study districts were profitable with a rate of return of above 15 per cent in
most cases.
68. Two studies on
Cluster Development Programme (CDP) covering Sisal Fibre and Woodcraft clusters
recommended ensuring fibre availability, highlighting the environmental
benefits of sisal fibre products compared to cheaper plastic substitutes and
encouraging individual initiatives to establish sisalbased micro-enterprises.
The study on woodcraft cluster revealed that the number of artisans in the
cluster increased about six times after the intervention. On an verage, the sample artisans produced 192
idols per annum getting an income of Rs.1,153 per idol, which yielded a return
of 44 per cent of the fixed costs.
69. Seven studies
conducted on Rural Entrepreneurship Development Programme (REDP) revealed that
the overall success rate in setting up new enterprises worked out to 34 per
cent only in terms of new enterprises and 58 per cent when wage employment too
was considered. The average annual net gain in income worked out to Rs.18,663
per trainee. The programme yielded more than 50 per cent returns to the
investment in all the states studied. Banks and SHGs emerged as the major
sources of credit. The studies suggested enrichment of the course material with
success stories.
70. A study
covering 14 states, viz., Andhra Pradesh, Assam, Gujarat, Haryana, Himachal
Pradesh, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Orissa, Punjab,
Rajasthan, Uttar Padesh and West Bengal, was conducted covering 1,876 KCC
holders from 178 bank branches from Co-operative banks, RRBs and CBs. The study
suggested that KCC penetration could be further improved in terms of extending
loan such as crop loan, working capital for allied and NFS activities and
consumption loan in the ratio of 4:2:1. The study further suggested that there
is a need to adopt “mission mode” approach to make KCC into a farmers’ friendly
efficient instrument for effective credit delivery system accompanied by
appropriate institutional mechanism.
71. Under the
scheme of rural godowns, 20,393 godowns with capacity of 238.37 metric tonnes
were sanctioned all over the country, and for the same, a subsidy of Rs.543.02
crore was released. An in-house study on “Rural Godowns in
72. Five studies
on pulses were conducted in five states. The studies revealed low productivity
at 622 kg per hectare. Total processing cost and sales proceeds for milling one
MT of pulses was Rs.0.025 Million and Rs.0.026 Million, respectively. The net
value addition per one MT of raw pulses was Rs.0.002 Million, at 7 per cent of
the operating cost. The input-output ratio was 1:1.06.
73. A study on
Mentha, an aromatic herb, was taken up in the state of Uttar Pradesh which
accounts for 80 per cent of the crop area under mentha. The per acre cost of cultivation
of menthe varied between Rs.0.015 Million and Rs.0.019 Million. The average
yield of oil per acre varied between 37.6 kg and 56.50 kg. The net income per
acre varied between Rs.0.005 Million and Rs.11,207. The gross value of
production from the sale of menthol crystals/flakes worked out to Rs.2.587
Millions and the net income realised from processing plant per month worked out
to Rs0.077 Million.
Performance Review
The performance of
RRBs is being reviewed by GoI under the Chairmanship of Union Finance Minister,
since January 2007, and the decisions taken in the meeting are in turn being
reviewed by Finance Secretary, GoI on half-yearly basis or as and when needed.
During the year, two such review meetings were held, one chaired by Finance
Minister and the other by Finance Secretary, GoI.
Financial Performance
Post amalgamation,
the number of RRB in the country, as on 31 March 2010, stood at 82, with a
network of 15,444 branches covering 618 notified districts in twenty-six States
and one UT (Puducherry). Over a period of three years (2008-10), aggregate
reserves of RRB increased significantly (38.7%), while deposits and investments
increased by 44.3 and 56.9 per cent, respectively. Borrowings also increased by
61.4 per cent, while loans and advances (outstanding) increased by 39.40 per
cent in 2009-10 (Table 4.17).
Financial results
of RRBs for the year 2009-10 indicate that they have improved their performance
with 78 out of 82 RRBs showing pre-tax profit to the extent of Rs.25505.100
Millions as compared to Rs.18235.500 Millions in 2008-09. The remaining four
RRBs incurred losses of Rs.84.400 Millions as compared to Rs.359.100 Millions
posted by six RRBs in 2008-09. The status of RRBs that can be considered as
sustainably viable (with no accumulated losses) is also expected to have
improved, as on 31 March 2010 as compared to the previous year. The aggregate
reserves of RRBs increased to Rs.79123.900 Millions while their networth increased
to Rs.102561.300 Millions as on 31 March 2010. The accumulated losses of RRBs
have decreased by 30.9 per cent over the previous year. The performance of RRBs
varied widely across the regions in 2009-10. While all RRBs in the Eastern,
Northern and Western region were in profit, a few in the Central, North-Eastern
and Southern regions were incurring losses.
CONTINGENT LIABILITY:
(Rs. In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
|
Claims against the Bank not acknowledged as debt. |
33.660 |
33.660 |
Provisional
Unaudited Financial Results for the quarter ended June 30, 2011
|
Sr. No. |
Particulars |
Quarter ended 30 June 2011 Unaudited |
Quarter ended 30 June 2010 Unaudited |
|
1 |
Interest earned
(a)+(b)+(c)+(d) |
25832.000 |
21807.100 |
|
(a) |
Interest on
loans and advance |
22367.700 |
19371.200 |
|
(b) |
Income on
investments |
3464.300 |
2435.900 |
|
(c) |
Interest on
balances with Reserve Bank of |
0.000 |
0.000 |
|
(d) |
Others |
0.000 |
0.000 |
|
2 |
Other Income |
200.400 |
183.400 |
|
3 |
Total Income
(1+2) |
26032.400 |
21990.500 |
|
4 |
Interest
Expended |
17585.500 |
14530.100 |
|
5 |
Operating
Expenses (i) + (ii) |
2121.200 |
1640.700 |
|
(i) |
Employees cost |
1622.300 |
1101.600 |
|
(ii) |
Other operating
expenses |
498.900 |
539.100 |
|
6 |
Total
Expenditure (4+5) excluding provisions and contingencies |
19706.700 |
16170.800 |
|
7 |
Operating Profit
before Provisions and Contingencies (3-6) |
6325.700 |
5819.700 |
|
8 |
Provisions (other
than tax) and Contingencies |
28.000 |
57.500 |
|
9 |
Exceptional
Items |
0.000 |
0.000 |
|
10 |
Profit (+)/Loss
(-) from Ordinary Activities before tax (7-8-9) |
6297.700 |
5762.200 |
|
11 |
Tax expenses |
1900.000 |
1700.000 |
|
12 |
Net Profit (+)/Loss
(-) from Ordinary Activities after tax (10-11) |
4397.700 |
4062.200 |
|
13 |
Extraordinary
items (net of tax expense) |
0.000 |
0.000 |
|
14 |
Net Profit (+) /
Loss (-) for the period (12-13) |
4397.700 |
4062.200 |
|
15 |
Paid-up capital |
20000.000 |
20000.000 |
|
16 |
Reserves
excluding Revaluation Reserves (as per balance sheet of previous accounting
year) |
114827.000 |
102075.400 |
|
17 |
Analytical
Ratios |
|
|
|
(i) |
Capital Adequacy
Ratio |
21.33% |
25.60% |
|
(ii) |
Earnings Per
Share (EPS) |
NA |
NA |
|
18 |
NPA Ratios |
|
|
|
(a) |
Gross NPA |
69.15 |
48.14 |
|
(b) |
Net NPA |
27.00 |
16.17 |
|
(c) |
% of Gross NPA
to Gross loans & advances |
0.0484 |
0.0398 |
|
(d) |
% of Net NPA to
Net loans & advances |
0.0189 |
0.0134 |
|
(e) |
Return on Assets |
1.11% |
1.19% |
NA = Not
Applicable
Return on Assets = Net Profit (after tax)
divided by total average assets
Notes:
1) Previous period figures have been regrouped
/ rearranged wherever necessary.
2) The above
financial results were taken on record by
the Executive Committee of the Board of Directors at its meeting held
on 27 August 2011
at New Delhi and have been subjected to 'Limited Review' by the
Statutory Auditors of the Bank.
3) As per consistent
practice followed by the Bank, the treatment/disclosure of Deferred Tax,
Segment Reporting and Consolidated Financial Results shall be dealt with/made
at the year end. Contribution to National Rural Credit Funds is considered as
at the year end.
4) The Expenses/Provisions on account of
Gratuity, Depreciation, Interest payable on Unutilised Funds, Study and Training , etc. have been proportionately
accounted based on Audited figure for
the year ended March 31, 2011, impact
whereof would not be material on interim results according to the management.
FIXED ASSETS:
·
Land : Freehold and
Leasehold
·
Premises
·
Furniture and Fixtures
·
Computer installations
and Office Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.58 |
|
|
1 |
Rs.82.97 |
|
Euro |
1 |
Rs.69.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
69 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.