Nabard plans to raise Rs. 3.5 trillion in FY23

Nabard is planning to raise Rs 3.5-3.6 trillion, including Rs 45,000 crore through long-term bonds, in FY23.

The balance will be from the shortfall in priority sector lending (PSL) and short-term instruments. G R Chintala, chairman, Nabard, said the scale of fund raising in FY23 was similar to what the institution did in FY22.

The yield on long-term paper has hardened in markets in tandem with the change in the rate cycle and inflation. Outstanding long-term borrowing rose to Rs 2.8 trillion in March 2022 from Rs 2.18 trillion in March 2021.