New Delhi: During 2020-21 NABARD registered a growth of 25.2 percent year-on-year to reach Rs. 6 lakh crore. The growth registered was from the extension of total loans and advances by the NABARD during 2020-21.
Almost half of the monetary from NABARD went into production and investment.
According to the report, NABARD earned overall Rs. 34,671.2 crore income during 2020-21, a 6.1 percent increase over the preceding year. The profit before tax amount was Rs. 6,081.4 crore, against Rs. 5,234.3 crore in the previous year. And the registered profit after tax was Rs. 4,320 crores compared to Rs 3,859.2 crore a year back.
The National Bank for Agriculture and Rural Development (NABARD) also recorded 6-7 lakhs crore in their balance sheets on March 2021.
The bank achieved year-on-year growth of 24 percent in their total assets and loan portfolio, informed NABARD Chairman GR Chintala.
Also, he mentioned the government’s Atma Nirbhar Bharat Package and the hardworking farmers from which the agricultural sector notably recorded a growth of 3.6 percent, the previous year and will probably maintain the same graph this year too.
The agricultural credit outstanding grew st 12.3 percent in 2020-21, which is the highest among all sectors and gives a motivational boost to NABARD to target the 16.5 lakh crore rural credit flow.