NABARD Celebrates its 44th Foundation Day in Bengaluru

Bangalore, 15th July 2025 : National Bank for Agriculture and Rural Development (NABARD) celebrated its 44th Foundation Day on 15th July 2025 at NABARD Tower, Bengaluru. Commemorating over four decades of dedicated service to rural Karnataka. The event was themed “Building Resilient Rural Economies through Youth and Women-led Enterprises in Karnataka,” reflecting NABARD’s focus on empowering youth and women entrepreneurs through inclusive, innovative and sustainable rural development.

The function was graced by the presence of Dr. Shalini Rajneesh, IAS, Chief Secretary to the Government of Karnataka, as the Chief Guest. Other dignitaries included Smt. Sonali Sen Gupta, Regional Director, Reserve Bank of India,  Bhavendra Kumar, Executive Director, Canara Bank, and other senior officials from State Government,  Chairman, Karnataka Grameen Bank, senior officials from SBI, UBI, PNB, Apex Bank, KSCARDB, SLBC, banking institutions, representatives of SHGs, FPOs, NGOs, and other development stakeholders.

The event commenced with the inauguration of an exhibition showcasing a wide array of products from Self-Help Groups, Farmer Producer Organizations, and GI clusters across Karnataka. The exhibits highlighted the entrepreneurial talents of rural women and youth with the support provided by NABARD pursuing its organisational goal to promote local crafts, agro-products, and rural enterprises. The ceremonial proceedings included an invocation, lighting of the traditional lamp, and a welcome address by Dr. Ashutosh Kumar, General Manager, NABARD.

Delivering the keynote address, Dr. Shalini Rajneesh, Chief Secretary commended NABARD for its multifaceted developmental interventions in the State. She appreciated NABARD’s contribution to rural infrastructure, sustainable agriculture, and its proactive role in promoting value addition. She highlighted some of the important schemes of Govt. of Karnataka in strengthening women-led enterprises viz., Gruhalakshmi scheme and Shakthi scheme. Stressing the importance of innovation and collaboration, she expressed confidence that NABARD would continue to be a vital partner in Karnataka’s efforts to promote agri-tech start-ups, carbon credit ecosystems, and digital agriculture. She reaffirmed the Government of Karnataka’s support for all current and future initiatives of NABARD aimed at strengthening the rural economy.

Dr. Surendra Babu, Chief General Manager, Karnataka Regional Office, outlined the journey of NABARD since its inception. He briefed the significant achievements of NABARD, Karnataka Regional Office during the financial year 2024–25. He informed that the total business operations in the State reached an all-time high of ₹27,846 crore, which included ₹21,442 crore in refinance assistance to banks and cooperative institutions, ₹4,974 crore in infrastructure finance to the State Government, and ₹1,431 crore in direct refinance to District Central Cooperative Banks. He further announced that NABARD had projected a credit potential of ₹4.46 lakh crore for Karnataka for the financial year 2025–26, aligning closely with SLBC’s Annual Credit Plan of ₹4.38 lakh crore.

He elaborated on the contributions of NABARD to rural infrastructure through the Rural Infrastructure Development Fund (RIDF) and NABARD Infrastructure Development Assistance (NIDA). Since inception, 41,489 projects have been completed under RIDF in Karnataka, resulting in the creation of irrigation potential for 4.10 lakh hectares, construction of 44,405 kilometres of rural roads, 55,502 meters of bridges, support for 13,480 rural educational institutions, 338 health facilities, and over 800 rural markets, along with several other critical infrastructure components. In 2024–25 alone, over ₹2,408 crore was sanctioned under RIDF and ₹2,516 crore under NIDA.

A major project sanctioned this year was ₹4,500 crore to the Karnataka Industrial Areas Development Board (KIADB) for developing industrial parks in the State which are expected to generate employment and entrepreneurship opportunities for nearly 60,000 rural youth and women.

NABARD’s digital outreach and financial inclusion efforts were also spotlighted. More than 4,200 micro-ATMs were deployed to enhance last-mile banking access. ₹3.08 crore was sanctioned to Karnataka Gramin Bank for connectivity infrastructure in underserved areas. Over 600 Financial and Digital Literacy (FIDGI) programs were conducted to educate rural populations on banking, digital payments, and responsible borrowing. Under the PACS Computerization Project, 2036 out of 5,491 PACS in Karnataka have gone live on a common ERP platform, significantly enhancing operational transparency and service delivery.

A significant moment during the celebrations was the release of a booklet titled “Success Stories of FPOs in Karnataka,” which documents the inspiring journeys of Farmer Producer Organizations across the State. The booklet showcases how small and marginal farmers have successfully come together to access markets, add value to their produce, embrace digital platforms, and establish inclusive and resilient business models.

A poignant film “The NABARD’s Touch – A Lifelong Journey” was released during the event showcased the transformative journey of NABARD’s Rural Infrastructure Development Fund (RIDF) in Karnataka. NABARD has sanctioned over ₹23,000 crore in Karnataka for more than 44,000 projects under RIDF, empowering rural communities through vital infrastructure. The video presented a sweeping visual narrative across the State—from bridges in Joida to modern hospitals in Hassan, check dams in Davanagere to smart classrooms in Dharwad—illustrating how each initiative strengthened livelihoods, connectivity, health, and education.

 Bhavendra Kumar, Executive Director of Canara Bank, lauded NABARD’s commendable efforts in fostering rural development, with a particular emphasis on infrastructure enhancement. He conveyed his heartfelt appreciation for NABARD’s consistent guidance to banking institutions and affirmed his confidence in its initiatives, which he believes play a vital role in empowering and strengthening rural communities.

In her address, Smt. Sonali Sen Gupta, Regional Director, RBI, applauded NABARD for its focus on inclusive finance, climate resilience, and cooperative banking reforms. She noted the importance of integrating NABARD’s credit planning frameworks with district and state-level strategies to ensure efficient credit delivery.

As part of the celebrations, six exemplary Farmer Producer Organizations (FPOs) from across Karnataka were felicitated for outstanding achievements in turnover, growth, innovation, and grassroots impact.

Best Performing PACS of Karnataka in terms of both business and governance/ compliance viz. Boragoan, Belgavi PACS, Hulgol, North Kanara PACS were felicitated. Further best performing DCCBs, viz. Bellary DCCB, Hassan DCCB & Mandya DCCB were also felicitated on the occasion.

The programme concluded with a vote of thanks delivered by Shri P. C. Dash, General Manager, NABARD. NABARD reaffirmed its commitment to work in close partnership with the Government of Karnataka, financial institutions, grassroots organizations, and civil society to realize the vision of a resilient and prosperous rural Karnataka. As the institution enters its 45th year of service, NABARD remains steadfast in its mission to empower rural communities, promote entrepreneurship, and foster inclusive economic transformation across the State.