Finance Department
1.  Genesis
Since the inception of NABARD, the Funds and Accounts Department (FAD) had been undertaking the management and accounting of resources of the bank. Subsequently, the department was divided into two independent departments, namely Finance Department and Accounts Department. The objective behind the segregation was to cater to the enhanced and specialised needs of funds management and accounting.
2.  Core Functions of the Department
The finance department carries out three main functions:
A.    Resource Mobilisation
B.    Fund Remittance
C.    Treasury Operations
A.  Resource Mobilisation
The Department mobilises resources to meet bank’s fund requirements through a mix of instruments of various types and tenures, viz. 
  • Bonds
  • Certificate of Deposits
  • Commercial Papers
  • Term Deposits
  • Corporate Borrowings
  • Term Money Borrowings
  • Rural Infrastructure Development Fund (RIDF) deposits
  • Short Term Cooperative Rural Credit (STCRC) deposits
  • Short Term Regional Rural Bank (STRRB) deposits
  • Long Term Rural Credit Fund (LTRCF) deposits, etc.
  • Warehouse Infrastructure Fund (WIF)
  • Food Processing Fund (FPF)
In the Bonds category, four types of bonds have been issued to retail investors, viz. Capital Gains Bonds, NABARD Rural Bonds, Bhavishya Nirman Bonds and Tax-Free Bonds. NABARD has not made any fresh issuance in these Bonds. However, interested investors may access Secondary Markets (Stock Exchange) to acquire Bhavishya Nirman Bonds or Tax-Free Bonds.  
Bonds, Certificate of Deposits and Commercial Papers are issued after obtaining ratings from an approved credit rating agency, viz. CRISIL, ICRA, India Ratings or CARE. Bhavishya Nirman Bonds, which are zero coupon bonds with a tenure of 10 years, and tax-free bonds were rated by at least two credit rating agencies. NABARD’s issuances received AAA (the highest) or equivalent ratings from these agencies.
The bonds issued to institutional investors are listed on the National Stock Exchange (NSE), while Bhavishya Nirman Bonds and Tax Free Bonds are listed on the Bombay Stock Exchange (BSE). The servicing of retail instruments (viz. Capital Gains Bonds, NABARD Rural Bonds and Bhavishya Nirman Bonds) is done by UTI Infrastructure Technology and Services Ltd., which acts as our Registrar and Transfer Agent. The Corporate Bonds are serviced by Datamatics Financial Services Ltd. IDBI Trusteeship Services Ltd is the trustee for Corporate Bonds and Bhavishya Nirman Bonds. For tax-free bonds issued in 2015-16, Axis Trustee Services Ltd acts as Debenture Trustee and Link Intime serves as the Registrar.   
NABARD’s Compliance Officer is Shri T S Sivasankaran. He can be reached via e-mail at in case of any grievance / query regarding Bonds by our Bond investors. Queries on retail Bonds issued by NABARD can also be forwarded to
 B. Fund Remittance
The Department remits funds for loaning operations and other purposes to NABARD Regional Offices and client institutions (Commercial Banks, Regional Rural Banks, State Cooperative Agriculture and Rural Development Banks, State Cooperative Banks and District Central Cooperative Banks), State Governments and other eligible agencies directly or through NABARD Regional Offices.
C. Treasury Operations
The Department carries out treasury operations with a view to ensure availability of adequate liquid resources for business operations and administrative functions of the bank. The Treasury Cell also invests the bank’s temporary surpluses and other funds in various instruments in accordance with the provisions of the NABARD Act, the Reserve Bank of India guidelines and directions given by the Board of Directors and the Investment Committee.
3.  Broad Achievements of the Department at a National Level

  • NABARD has been entrusted by GoI to handle phased resource mobilisation for the prestigious Long Term Irrigation Fund (LTIF), starting from FY 2016-17.
  • On the lines of LTIF, NABARD has been entrusted by GoI to handle resource mobilization for Pradhan Mantri Awaas Yojana – Gramin (PMAY-G) from FY 2017-18.
  • Redemptions for the 10 year zero coupon bond issued by NABARD, i.e., Bhavishya Nirman Bonds started series wise from 01 March 2017. 
 Links for Download
Contact Information
Shri A K Sahoo
Chief General Manager
2nd Floor, ‘D’ Wing
C-24, ‘G’ Block
Bandra-Kurla Complex,
Bandra (East)
Tel: (91) 022-26530095, (91) 022-26539248
Fax: (91) 022-26530099        
Contact Information of Registrars for our Retail Bond issues 
Bhavishya Nirman Bond NABARD Tax Free Bonds 2016
UTI Infrastructure Technology And Services Ltd Contact person : Ms Barkha Samtani e-mail : Tel : 022-67931232
Link Intime India Pvt Ltd Contact person: Mr Dinesh Yadav
Tel : 022-49186000