The National Bank for Agriculture and Rural Development (NABARD) has announced a special refinance facility of Rs 800 crore for Fiscal Year 2021. With this, NABARD will support the Government of India’s Water, Sanitisation and Hygiene (WASH) programme.
NABARD will provide concessional refinance to all eligible financial institutions including commercial banks, regional rural banks and cooperative banks with a repayment period of up to 36 months. The support will be channelised to fund WASH activities, a thrust area eligible for 95% refinance. The bank credit will also be extended to NBFCs-MFIs and other MFIs (Societies, Trusts).
Important takeaways for all competitive exams:
- Chairman of National Bank for Agriculture and Rural Development: G R Chintala.