Provision of Short-Term (ST) refinance by NABARD to RRBs for financing Seasonal Agricultural Operations (SAO) - Policy for F.Y. 2019-20
Please refer to our Circular No. 174/ DoR-53/2018 dated 06 July 2018, communicating NABARD's policy for F. Y. 2018-19 for provision of short-term refinance to the Regional Rural Banks (RRBs) under Sec. 21(1) of the NABARD Act, 1981, for financing Seasonal Agricultural Operations (SAO). We advise that the ST (SAO) Refinance Policy for F. Y. 2019-20 has since been reviewed and is on the lines similar to previous year’s policy. The detailed policy is enumerated in Annexure I. 
2. The rate of interest on refinance will be 4.5% p.a. during the year 2019-20, (subject to revision, if any, by Govt. of India) for only those RRBs which provide, including their own involvement, crop loans up to Rs 3.00 lakh per borrower at 7% p.a. or less. The Bank is required to furnish an undertaking to this effect as per Annexure II.
3. You may advise all the branches to accord top priority for implementation of KCC scheme by issuance of RuPay Card to the borrowing members.  RRBs are also required to report the monthly progress with regard to KCCs on the ENSURE portal by 15th of the following month.
4. Refinance allocation for your Bank for the year 2019-20 will be communicated to you, by our Regional Office (RO). You may submit an application for sanction of credit limit along with the first drawal, as per the prescribed proforma to the concerned RO of NABARD.
5. Please acknowledge receipt of this letter to our Regional Office.