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.
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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.