(a) the details of the benefits accrued to Indian Agriculturists after withdrawing Reserve Bank of India (RBI) shares in the National Bank for Agriculture and Rural Development (NABARD);
(b) whether repositioning exercise is sought to be placed in tune with the Government move towards the corporatization of Indian agriculture to the detriment of millions of poor farmers of this country; and
(c) if so, the details thereof?
The Minister of State in the Ministry of Finance (Shri Namo Narain Meena)
(a) to (c): The Government of India (GoI), in consultation with the Reserve Bank of India
(RBI), had decided to take-over 72.5 % of the overall shareholding in the National Bank for
Agriculture and Rural Development (NABARD), presently held by RBI, thus taking GoI’s holding
in NABARD to 100%.
Meanwhile, RBI has requested the Government that due to the impact of recent global crisis
and operational exigencies status quo may be maintained for some more time.
The change in shareholding pattern of NABARD will not, however, have any impact on the overall
working of NABARD or its mandate, as envisioned in the Preamble to the NABARD Act, 1981, viz
providing and regulating credit and other facilities for the promotion and development of
agriculture, small scale industries, cottage and village industries, handicrafts and other
rural crafts and other allied economic activities in rural areas with a view to promoting
integrated rural development and securing prosperity of rural areas, and / or matters
connected therewith or incidental thereto.