MUMBAI: The National Bank for Agriculture and Rural Development (NABARD) marked its 44th Foundation Day with a commemorative event in Chennai, celebrating its journey as a pivotal institution in India’s rural development. The occasion brought together key policymakers, state officials, banking leaders, and grassroots innovators to reflect on NABARD’s enduring mission and unveil a new chapter of forward-looking initiatives.

The celebrations were graced by Shri M. Nagaraju, Secretary, Department of Financial Services, Govt. of India; Shri N. Muruganandam, Chief Secretary, Government of Tamil Nadu; Shri Shaji K V, Chairman, NABARD, apart from Sri. G.S. Rawat and Sri A.K. Sood, Deputy Managing Directors of NABARD. The event also saw participation of MDs of Indian Bank and Indian Overseas Bank, apart from NABARD’s top leadership and senior officials from central and state governments.

A thought-provoking panel discussion on “Fostering Rural Enterprises for Inclusive Growth” set the tone for the evening, highlighting how rural entrepreneurship can serve as a key driver of job creation, innovation, and equitable development. An exhibition showcasing traditional crafts, agro-products, and rural innovations reflected the dynamic enterprise of India’s villages.

Shri Shaji K.V., Chairman, NABARD, in his address, stated, “NABARD’s 44-year journey is a testament to our unwavering commitment to rural transformation. From enabling access to finance and infrastructure to fostering innovation and resilience, our work has touched millions of lives. As India accelerates toward inclusive growth, NABARD is prepared to lead from the front through digital transformation, support for rural enterprises, and mission-led programmes that unlock grassroots potential. Our focus now is to scale high-impact solutions, nurture entrepreneurial ecosystems, and ensure sustainability remains at the heart of development.”

Shri M. Nagaraju, Secretary, DFS, GoI, lauded NABARD’s enduring impact: “For over four decades, NABARD has served as a cornerstone of India’s rural development strategy. Its initiatives reflect the government’s vision for an inclusive and future-ready rural economy. As we move into an era defined by climate challenges and digital opportunities, NABARD’s role in strengthening rural livelihoods and institutions will be more critical than ever.”

Shri N. Muruganandam, Chief Secretary of Tamil Nadu, acknowledged NABARD’s contributions in Tamil Nadu, saying that, “NABARD’s support has been instrumental in enhancing rural livelihoods and building self-reliant communities across Tamil Nadu. Its efforts in empowering SHGs, supporting infrastructure, and promoting inclusive finance are deeply appreciated.”

The evening witnessed the launch of several strategic initiatives aimed at expanding NABARD’s outreach and deepening its development impact:

• Inauguration of NABARD’s Sub-office in Leh, Ladakh, reinforcing its commitment to reach India’s most remote regions with credit, capacity building, and development finance.
• Launch of NABARD’s official WhatsApp Channel to enhance real-time communication and deliver market advisories, FPO information, and product updates directly to rural stakeholders.
• Radio Jingle for Financial Inclusion, targeting rural and semi-urban listeners across AIR and community radio networks with awareness messages on savings, credit, and insurance.
• Graduated Rural Income Generation Programme (GRIP), a livelihood intervention for ultra-poor rural households using returnable grants and capacity support to transition them into formal economic activity.
• RuralTech CoLab Portal, an open digital innovation platform enabling startups, research institutes, and tech developers to co-create, test, and scale rural-centric technologies.
• Launch of “NIVARAN”, a dedicated Internal Grievance Redressal System for Rural Cooperative Banks, offering 24×7 digital access for complaint resolution and governance improvement.

The evening also featured the premiere of “Green Roots: NABARD’s Journey Towards Climate Resilience”, a documentary chronicling NABARD’s decades-long work in promoting sustainable agriculture and environmental stewardship.

Additionally, the following publications were released:

• “RIDF@30: A Journey of Rural Transformation” – celebrating 30 years of the Rural Infrastructure Development Fund and its role in reviving rural connectivity, irrigation, education, and health infrastructure.
• “Grameen Bharat Mahotsav” Coffee Table Book – capturing the vibrant spirit of the January 2025 event at Bharat Mandapam, showcasing rural India’s entrepreneurial and cultural vibrancy.
• “Beyond Numbers 2025” – a narrative impact report highlighting NABARD’s multi-dimensional work across credit, climate, digital, and institutional ecosystems.

With a renewed sense of purpose and a host of visionary initiatives, NABARD’s 44th Foundation Day reinforced its stature as a vital national institution powering India’s rural future. The event reflected not only the achievements of the past but also the momentum for the road ahead, rooted in impact, inclusion, and innovation.

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The highlight of the celebration was a Panel Discussion on “Climate Risk Management and Banking.” The panel featured esteemed experts including Dr. Trupti Mishra, Professor at IIT Bombay, Shri Santosh Kumar Singh, MD of Intellecap, and Dr. Sat Singh Tomer, CEO of Satyukt (Start-up). The discussion was adeptly moderated by Shri Vivek Adhia from BCG. In addition, several significant publications were released, and a short film was launched to mark the occasion.

Laying out a brief timeline of the organization, NABARD Chairman Shri Shaji K. V. discussed NABARD’s journey over the past 4 decades. He said, “Over the past four decades, NABARD has been a cornerstone of rural development in India. From pioneering the SHG-Bank Linkage Program to supporting JLGs and FPOs, our initiatives have empowered millions of rural households and farmers. Our interventions have fostered financial inclusion, enhanced productivity, and driven sustainable development. Embracing digital transformation, we are helping GOI in computerizing 65,000 PACS and integrated Core Banking Solutions in numerous rural cooperative banks. As we continue to innovate and adapt, our mission remains the same: to uplift the rural economy, ensuring prosperity and resilience for all rural communities.”

Mr G.S. Rawat, DMD of NABARD, emphasized on the need to address the issues related to the agri and rural sectors of the country. “Despite the geographical and infrastructural limitations, our country is among the top 5 producers of agri-commodity in the world. There is still a credit gap in the northeastern regions of the country that needs to be addressed. NABARD is dedicated to working towards finding solutions to the challenges and bridging the gap by leveraging technology. We need innovations to ensure the credit flow to small farmers from remote areas of the country. Innovation will be a catalyst in enhancing the efficiency of the existing agri value chain”

Highlighting NABARD’s key role in the development and prosperity of rural India, Dr. A.K. Sood, DMD of NABARD, said, “Nothing delivers results like success, and we have consistently increased our credit flow to agriculture, delivering impactful results and touching the lives of millions of farmers over two-and-a-half decades. We are also embracing technology to explore new frontiers in financial inclusion, leveraging fintech for underserved rural India. Our challenges now are new—climate change, water scarcity, and an unceasing spiral of indebtedness among farmers. But shoulder-to-shoulder with all stakeholders, we will continue to strive to build a more inclusive and resilient rural India.“

Concluding the event, Shri Shaji K.V. reiterated the pivotal NABARD has to play in realizing the dream of ‘Vikasit Bharat’ by 2047. “We are also looking forward to strengthening the other sectors like fisheries and we believe that our initiatives will help in the growth of rural GDP to support the growth of our country. NABARD has an important role to play in strengthening the foundation of the vision of ‘Vikasit Bharat’ by 2047”.

The 43rd Foundation Day celebration of NABARD was a resounding success, reflecting its enduring legacy and future aspirations.

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The new office is expected to play a pivotal role in enhancing the bank’s operational efficiency and presence in the financial hub of India. This new office is a testament to our commitment to expanding our footprint and serving our customers more effectively. We are excited about the opportunities this new location will bring in terms of growth and service excellence said K. Paul Thomas, Managing Director and CEO of ESAF Small Finance Bank.

Milind Anant Kale, Chairman, Cosmos Co-Operative Bank, Ravi Venkatraman, Director, Hari Velloor, Executive Vice President, Hemant Tamta, Executive Vice President, Bosco Joseph, Senior Vice President, Sreekanth C. K., Head, Marketing & PR of ESAF Small Finance Bank and senior bank officials were also spoke on the occasion.

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NABARD shared its extensive experience working alongside these sectors and unveiled a spectrum of initiatives aimed at propelling the agricultural and rural economy to new heights through comprehensive digital financial services. The bank’s focus is on leveraging technology and innovation to bridge financial gaps, empower rural communities, and transform agriculture.

“The transformation of agriculture and rural finance is of paramount importance. Through value chain financing, we aim to bridge the digital divide and bring financial services to the doorsteps of the rural population. Through technology, we can contribute significantly to the economic growth and prosperity of India’s rural communities,” said Shri Manikumar S., Chief General Manager (SPPID) at NABARD.

NABARD’s presence at the Global Fintech Fest was marked by hosting six-panel discussions throughout the three-day event. These discussions underlined the multifaceted aspects and the significance of fostering collaboration between agritech and fintech. Such collaborative innovations promise to inject new value into the existing agricultural value chain, laying the foundation for a more sustainable, efficient, and technologically advanced agricultural ecosystem.

With these initiatives, NABARD reiterated its commitment to empowering the rural economy and driving financial inclusion through value chain financing in agriculture, developing innovative solutions to provide digital financial services in remote and inaccessible regions.

The Global Fintech Fest provided an excellent platform for NABARD to showcase its pioneering efforts in leveraging technology to revolutionize financial services in rural India. By participating in the event, NABARD reaffirmed its commitment to advancing financial inclusion and empowering rural communities across the country.

The National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India. Established on 12 July 1982, with headquarters in Mumbai, NABARD operates with a mission to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institutional development, and other innovative initiatives. NABARD plays a crucial role in fostering rural development, empowering farmers, and catalyzing the growth of the rural economy.

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