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Have headroom to raise Rs 35k cr from market: Nabard chief

Have headroom to raise Rs 35k cr from market: Nabard chief
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New Delhi: Nabard has headroom to raise about Rs 35,000 crore from the market during the remaining months of the current fiscal to fund its business growth and also support various agricultural and rural development schemes of the government, a top official said.

"So far we have raised Rs 20,000 crore and remaining Rs 35,000 crore can be raised depending on demand and requirement," Nabard Chairman Harsh Kumar Bhanwala said. This includes Extra Budgetary Resources (EBR) borrowing for various flagship schemes of the government, he added.

The National Bank for Agriculture and Rural Development (Nabard) raises funds through long term bonds, usually of 10-15 years tenures.

Last financial year, Nabard raised a total of Rs 56,069 crore through non-convertible debentures, of which Rs 33,169 crore was for government schemes and the remaining for the organisation's own funding requirements.

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