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Hindustan Times
4 days ago
- Business
- Hindustan Times
SC committee, NABARD discuss steps to ease farmers' woes
The high-powered committee constituted by the Supreme Court to look into farmers' issues held a meeting with the National Bank for Agriculture and Rural Development (NABARD) on Tuesday on ways to ease farmer distress. The meeting was held at the committee's office in Panchkula and attended by Shaji KV, chairman of NABARD. (HT) One of the main stakeholders in improving farmers' conditions, NABARD is an apex development bank to promote sustainable and equitable agriculture and rural development. The meeting was held at the committee's office in Panchkula and attended by Shaji KV, chairman of NABARD. Formed in September 2024 to resolve farmers' issues, the committee, headed by former Punjab and Haryana high court judge Nawab Singh, questioned NABARD over a host of issues: Farmers Producer Organisations (FPOs); enhancing farmer income and cold-chain infrastructure. NABARD officials told the committee that the strategy to enhance farmers' income was rooted in financial inclusion, agri-value chain development, sustainable infrastructure and livelihood diversification. The committee is reported to have confronted the NABARD, questioning, 'Why not put the policy on ease of doing farming on par with the ease of doing business.' When the committee wanted to know the concrete steps relating to farming distress, NABARD said it had been promoting as many as 7,400 FPOs across the country. On this, the committee quipped: 'What is the outcome of promoting FPOs given various challenges.' The committee highlighted that ground reports suggested that many FPOs were lying defunct and there was a need to revisit the programme. 'Over the past few months, various stakeholders have, through representations before the committee, mentioned large-scale failure of FPOs. We asked the officials from NABARD regarding any plans to revisit the scheme,' one of the committee members told HT. NABARD, however, said it was a workable model for small and marginal farmers amid the challenges of effective implementation at the ground level. 'NABARD has promoted over 7,400 FPOs involving 27. 53 lakh farmers — 82% of whom are small/marginal — ensuring better market access and income. Banks disbursed ₹1.96 lakh crore under the SHG-Bank Linkage Programme in FY2025 benefiting 17 crore rural households with affordable credit,' said an official of NABARD during the meeting. We are inviting all stakeholders: Committee The committee claimed that they had been doing everything they could and inviting all stakeholders over the past few months to address the issue of farmer distress. The committee members, agricultural scientist Devinder Sharma; former Haryana DGP BS Sandhu; economist Dr RS Ghuman and member-secretary Dr Amit Kumar Agrawal; were present in the meeting. This panel of experts was constituted by a Supreme Court bench, headed by justice Surya Kant, to recommend comprehensive reforms in the agrarian sector with the aim of improving farmer welfare. Earlier in May, the committee had also held discussions with the Kerala agriculture minister to examine state's fruit and vegetables support programme, and the concept of Farmers' Debt Relief Commission.
Time of India
6 days ago
- 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
6 days ago
- 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
6 days ago
- 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.)
Time of India
16-06-2025
- Business
- Time of India
Green fuels, clean tech, and climate finance on agenda as India gathers for ET India Net Zero Forum 2025
New Delhi: With India targeting net zero emissions by 2070, over 50 senior policymakers, public sector heads, global climate experts and industry leaders will gather in Delhi on June 18 to deliberate on the country's transition towards a low-carbon economy at the ET India Net Zero Forum 2025 . The day-long event will be held at Hyatt Regency, bringing together voices from energy, environment, finance, and manufacturing sectors. The event is being organised by ET Energyworld in partnership with SAEL, Pipeline Infrastructure Ltd (PIL), Trualt Bioenergy, GoodEnough Energy, SKF, and others. Union Minister for Environment, Forest and Climate Change Bhupender Yadav will deliver the keynote address, setting the tone for high-level deliberations on climate policy, energy transition, and clean technology innovation. The forum will also feature top officials such as NABARD Chairman Shaji KV, UN Resident Coordinator Shombi Sharp, and European Union Ambassador to India Hervé Delphin. The event will serve as a platform for government agencies, PSUs, global organisations, financiers and corporates to explore how to accelerate India's green goals while ensuring sustainable economic growth. The conference comes against the backdrop of India's updated nationally determined contributions (NDCs), which include achieving 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy sources by 2030. Key sessions will explore sector-specific decarbonisation strategies for industries such as cement, steel, power, transport, and agriculture. With the industry sector accounting for around 30 per cent of India's emissions, the forum will examine how hard-to-abate sectors can transition through cleaner technologies, carbon capture, electrification, and alternative fuels like ethanol and green hydrogen. Public sector heads from Indian Oil, NHPC, ONGC Green, NLC India and SAEL Industries will present their decarbonisation roadmaps, touching upon their green hydrogen, bioenergy, and renewables-based projects. A dedicated panel led by NITI Aayog will review India's progress on its net zero by 2070 goal and the institutional support required to scale up climate investments. The forum will also include a focused dialogue on transforming agricultural residues into renewable energy , highlighting the role of waste-to-energy in tackling air pollution and enhancing farmer incomes. This session will be anchored by SAEL Industries, which has developed India's largest network of biomass power plants. In another session, CMDs of state-run energy firms will outline strategies for transitioning from fossil fuels to a diversified energy mix. The discussions will also cover recent policy initiatives such as the Green Credit Programme, carbon markets, and renewable energy procurement mechanisms that are shaping India's energy future. A strong private sector presence will see participation from sustainability heads and CXOs of Mahindra Group, Apollo Tyres, Fortis Healthcare, Godrej Industries, JK Cement, Nestlé India, and more. These sessions will focus on ESG implementation, energy efficiency, digitalisation for climate action, and aligning business models with climate goals. In the closing session, former Union Minister Suresh Prabhu will offer a long-term perspective on climate diplomacy and the future of sustainable infrastructure development in India. A special address by the Department of Atomic Energy will spotlight the role of nuclear energy in India's clean energy transition. With India's energy needs projected to double by 2040 and the global pressure mounting to align national actions with the Paris Agreement goals, the ET India Net Zero Forum aims to act as a bridge between intent and implementation.
