Corporate News
Nabard balance sheet grows 24% to Rs 6.57 lakh cr in FY21

National Bank for Agriculture and Rural Development (Nabard) on Tuesday reported a 24 per cent growth in its balance sheet to a record high of Rs 6.57 lakh crore in the financial year ended on March 31, 2021. In the financial year 2019-20, its balance sheet stood at Rs 5.32 lakh crore. “In FY 2020-21, we have given a stellar performance. We closed the business at Rs 6.57 lakh crore, recording a growth rate of 23.5 per cent. This is an all-time high,” Nabard Chairman G R Chintala told reporters. The growth in business was helped by various schemes announced by the government, rejigging of processes and products done by the institution and also as it encouraged clients, institutions and state governments to avail the benefits of the schemes as much as possible for faster developments, he said.

News Source:- https://www.financialexpress.com/industry/nabard-balance-sheet-grows-24-to-rs-6-57-lakh-cr-in-fy21/2228048/