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Time of India
5 days ago
- Business
- Time of India
Agri credit will surpass Rs Rs 32L cr in FY26, says Nabard chairman
Chennai: With agriculture and rural growth catching up, the National Bank for Agriculture and Rural Development (Nabard) has projected that agri credit will surpass Rs 32 lakh crore in the current fiscal (FY26). It is an increase by 14% when compared with more than Rs 28 lakh crore credit to the agriculture sector in FY25. 'If you see any rural growth as percentage, it is catching up with the urban growth (in terms of percentage). Agriculture growth has also improved. It has moved away from the historical rates of growth to higher growth. Last year (FY25), agri credit was slightly higher than Rs 28 lakh crore. This financial year we will be crossing Rs 32 lakh crore,' Shaji K V, chairman, Nabard, told TOI in an interview. The focus areas will be productivity enhancement and agri value chain financing. Pointing out that productivity improvement is one area which needs to be focused to improve the per capita income of farmers, he said, 'We are looking at value chain activities to be financed properly. Now, we are doing some pilots on agri value chain financing. Agri value chain financing is not just fund flow. We have to trace those funds to digitised means. There is internal financing and external financing in value chain financing. When external financing comes in, the cash flow should be escrowed. And there shall not be any leakage. Otherwise, there will be a lot of stress. So, we need to digitise those pilots that we are doing,' he added. Meanwhile, Nabventures, a wholly-owned subsidiary of Nabard, will soon launch the second round of Nabventures Fund with a focus on rural and climate resilience. Early stage, Series A and Series B startups will be funded. According to Shaji, the fund is likely to be launched in a couple of months. 'Internal and external approvals have been taken. We are in the advanced stage. Fund I was more of an agri focus and value chain. Climate resilience is one major area, which is coming in. So, innovations are required and we need to support these innovations,' he said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
New Indian Express
08-07-2025
- Politics
- New Indian Express
Q&A series of school in Kozhikode continues to inspire, create waves
KOZHIKODE: Seasoned politicians are no strangers to tough questions from journalists. But when innocent-faced students throw sharp, unexpected queries their way, even the most battle-hardened leaders fumble for words. Back in 2013, Muslim League leader K M Shaji found himself in exactly such a situation. During an interactive session organised by the media club of MIM Higher Secondary School, Perode, a student casually asked Shaji whether he admired then Leader of Opposition V S Achuthanandan's fiery spirit, even in his late 80s. Caught off-guard, Shaji, with equal innocence, admitted that VS' fighting spirit was an inspiration to all MLAs. The problem? At that very time, VS was relentlessly targeting the League and its leader P K Kunhalikutty in fiery public speeches. It didn't take long for Shaji's candid remark to go viral on social media. Within hours, the League leadership was demanding an explanation. And that wasn't a one-off. The school's media club has a knack for putting public figures on the spot. Even veteran Congress leader Oommen Chandy wasn't spared. In one session, a student boldly asked him: 'You often say you dedicate your personal time to the party. Despite all your hard work, why did your party lose the assembly election?' Another cheeky question followed: 'Your name is Oommen Chandy. Why did you give your son a 'thala thirinja' name Chandy Oommen?' The school's much-talked-about interactive series 'Vidhyarthikalkku Oppam' has a reputation for fearless, unfiltered questions. Launched in 2014 by the media club, the initiative was designed to train higher secondary humanities and journalism students in public engagement and interviewing skills. And it's now become something of a local legend, recently crossing its 50th-session milestone. Over the years, the programme has hosted well-known figures including KPAC Lalitha, K K Rema, K P Mohanan, E T Mohammed Basheer, Shafi Parambil, Abu Salim, former collector Prashanth Nair, and the late P T Thomas.
Time of India
07-07-2025
- Business
- Time of India
RRB digitisation push: Nabard to complete IT integration of merged rural banks by Sep 30; New tech, stacks and digital pilots aimed at bridging rural-urban divide
AI image The IT integration of recently amalgamated Regional Rural Banks (RRBs) under the 'One State One RRB' framework is likely to be completed by September 30, Nabard Chairman Shaji KV said on Monday. Speaking at a CII event, Shaji said the RRB amalgamation exercise, which took effect on May 1, aimed at enhancing scale efficiency and cost rationalisation across rural banking services. Post-merger, there are now 28 RRBs operating in 26 states and 2 Union Territories, with a combined network of over 22,000 branches covering 700 districts, according to PTI. 'As of May 1, the integration of RRBs at the state level has been completed. IT integration is expected to be finalised by September,' Shaji said. He added that Nabard (National Bank for Agriculture and Rural Development) is building a common digital infrastructure with the RRBs, rolling out credit platforms and government data systems to expand outreach in rural India. However, he acknowledged persistent challenges, including low internet bandwidth and limited awareness, but noted that collaborative efforts are underway with various organisations to resolve them. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2 & 3 BHK Homes Near SGNP at Ghodbundar Rd Purva Panorama Click Here Undo by Taboola by Taboola Highlighting the broader digital roadmap, Shaji said Nabard is working to digitise agricultural value chains—about 20 of which are already in place—and bring more farmers, especially those without formal land records, into the formal banking system. To further enhance reach and transparency, Nabard is also deploying blockchain-based crop traceability systems and strengthening Business Correspondent (BC) networks in rural areas. The chairman said the government is also building additional technology stacks like the Agri Stack, Fisheries Stack, and Cooperative Stack. The 'Cooperative Stack' aims to integrate various rural schemes via Primary Agricultural Credit Societies (PACS), creating a unified system for benefit delivery. He noted that Nabard is leading the cooperative digitisation effort, with around 70,000 societies already digitised. It is also supporting pilots in partnership with NGOs and FinTechs through the Financial Inclusion Fund. Addressing the rural-urban income imbalance, Shaji pointed out that two-thirds of India's population contributes only one-third of the national income. Nabard is actively working on solutions to narrow this gap and transform farmers into agribusiness entrepreneurs. Additionally, the institution is setting up a sandbox environment that will allow fintechs to access anonymised data for developing rural-focused solutions, he added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
07-07-2025
- Business
- Time of India
RRBs' IT integration to be completed by Sep 30: NABARD Chairman
NABARD Chairman Shaji KV said on Monday IT integration of recently amalgamated Regional Rural Banks (RRBs) on the principles of 'One State One RRB' is expected to be completed by September 30. The amalgamation of RRBs on the principles of 'One State One RRB' became effective from May 1. This was aimed at improving scale efficiency and cost rationalisation. With this, now, there are 28 RRBs in 26 states and 2 UTs with more than 22,000 branches covering 700 districts. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Duong 17-8 (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Speaking at a CII event, Shaji said that as of May 1, integration of all the RRBs at the state level has been done, and by September, the IT integration of RRBs is expected to be completed. The chairman said that NABARD (National Bank for Agriculture and Rural Development) is working on building a common digital infrastructure with RRBs. They are rolling out credit infrastructure and government data systems to reach rural populations. Live Events However, challenges like low internet bandwidth and awareness exist, but efforts are being made with various organisations to address these. He mentioned digitising agri value chains , with around 20 already digitised. NABARD is working with several banks to bring more farmers, especially those without land records, into the system. Also, it is working with blockchain-based crop traceability and BC (Business Correspondent) networks for better reach in rural areas. Shaji said that the government is now working on additional stacks like Agri Stack (for agriculture), Fisheries Stack, and Cooperative Stack . 'Cooperative stack' is expected to integrate various schemes through Primary Agricultural Credit Societies to create a unified system for dispensing benefits in rural areas. He said that NABARD is leading the digitisation of cooperatives, with about 70,000 societies already digitised. Through the financial inclusion fund, NABARD is supporting pilots with NGOs and FinTechs. Moreover, they are also focusing on the rural-urban income divide, where two-thirds of the population contributes only one-third of the national income. NABARD is working on solutions to ensure equitable growth, and the goal is to transform farmers into agribusiness entrepreneurs, he said. Additionally, NABARD is setting up a sandbox environment to share anonymised data with fintechs, he added.
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Business Standard
07-07-2025
- Business
- Business Standard
RRBs' IT integration likely to be completed by Sep 30: Nabard chairman
The amalgamation of RRBs on the principles of 'One State One RRB' became effective from May 1. This was aimed at improving scale efficiency and cost rationalisation Press Trust of India Nabard Chairman Shaji KV said on Monday IT integration of recently amalgamated Regional Rural Banks (RRBs) on the principles of 'One State One RRB' is expected to be completed by September 30. The amalgamation of RRBs on the principles of 'One State One RRB' became effective from May 1. This was aimed at improving scale efficiency and cost rationalisation. With this, now, there are 28 RRBs in 26 states and 2 UTs with more than 22,000 branches covering 700 districts. Speaking at a CII event, Shaji said that as of May 1, integration of all the RRBs at the state level has been done, and by September, the IT integration of RRBs is expected to be completed. The chairman said that Nabard (National Bank for Agriculture and Rural Development) is working on building a common digital infrastructure with RRBs. They are rolling out credit infrastructure and government data systems to reach rural populations. However, challenges like low internet bandwidth and awareness exist, but efforts are being made with various organisations to address these. He mentioned digitising agri value chains, with around 20 already digitised. Nabard is working with several banks to bring more farmers, especially those without land records, into the system. Also, it is working with blockchain-based crop traceability and BC (Business Correspondent) networks for better reach in rural areas. Shaji said that the government is now working on additional stacks like Agri Stack (for agriculture), Fisheries Stack, and Cooperative Stack. 'Cooperative stack' is expected to integrate various schemes through Primary Agricultural Credit Societies to create a unified system for dispensing benefits in rural areas. He said that Nabard is leading the digitisation of cooperatives, with about 70,000 societies already digitised. Through the financial inclusion fund, Nabard is supporting pilots with NGOs and FinTechs. Moreover, they are also focusing on the rural-urban income divide, where two-thirds of the population contributes only one-third of the national income. Nabard is working on solutions to ensure equitable growth, and the goal is to transform farmers into agribusiness entrepreneurs, he said. Additionally, Nabard is setting up a sandbox environment to share anonymised data with fintechs, he added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
