annual

rep o rt
201 7-1 8
 
  

   
Photo credit (all photos other than opening pages of chapters 1, 2, 4, and 8): NABARD
Custom publishing for NABARD: Lucid Solutions, www.lucidsolutionsonline.com
Printing and production for NABARD: ALCO Corporation

iii
 Board of Directors as on 31 March 2018

Chairman appointed
under Section 6(1)(a) of
the NABARD Act, 1981

Shri Harsh Kumar Bhanwala

Chairman

Directors appointed under

Section 6(1)(b) of the
NABARD Act, 1981

Dr Satyanarayana Dash Dr. Anup Kumar Dash Shri Anil Kumar Bansal

Directors appointed
under Section 6(1)(c) of
the NABARD Act, 1981
Shri B.P.Kanungo Dr. Ashok Gulati

Directors appointed under

Section 6(1)(d) of
the NABARD Act, 1981
Shri Suchindra Misra Shri S.K. Pattanayak Shri Amarjeet Sinha

Directors appointed under

Section 6(1)(e) of
the NABARD Act, 1981
Shri Suresh Chandra Shri P. C. Meena Smt. Pooja Singhal Shri C. Parthasarathi
Gupta

Directors appointed
under Section 6(3) of
the NABARD Act, 1981
Shri H. R. Dave Shri R. Amalorpavanathan


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encouraging term lending. 
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NABARD strongly believes, that in small-farmer-
dominated agriculture, aggregation is an important
strategy for inclusive growth. Hence, a theme
chapter titled “Economic Empowerment through
Aggregation” focusing on the role of Farmer Producer
Organisations (FPOs) has been included in the
Annual Report. The chapter highlights the positive
contribution of aggregation in enhancing farmer
income and deliberates on the issues faced in scaling
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support for livelihoods. NABARD has brought 3.49
lakh SHGs (out of 87.4 lakh SHGs) in 100 districts
across 22 states on the ‘E-Shakti’, a web-based
platform for collation of data on the functioning of
SHGs that is accessible to all stakeholders. It has
facilitated increase in credit linkage of SHGs from 39
per cent to 53 per cent.
Climate change poses a major threat to food
security in the country. NABARD as the National


&



 Implementing Entity for the Adaptation Fund (AF),
convincing reasons for small farmers and stakeholders the Green Climate Fund (GCF), and the National
to mainstream FPOs. Adaptation Fund for Climate Change (NAFCC), has
The next strategy for inclusive growth can be value #" 
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addition. Again, NABARD has been facilitating the towards promotion of climate change adaptation in




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agriculture.
the private sector for setting up of food parks and
food processing units in Designated Food Parks under
the Food Processing Fund (FPF). Farmer producer
organisations and the food processing industry should
We at NABARD understand the challenges of
rural India and are conscious of “miles to go” and
“milestones to achieve”. At the same time, I am
"
!' 

 

From the Chairman… work together, as a win-win strategy. cross these milestones with élan. And, of course, I
NABARD has been well recognised for its SHG- seek support of Government, RBI, partner agencies,
A major milestone in the 35-year journey of various components of the Pradhan Mantri Krishi Bank Linkage Programme (SBLP) which ushered 


NABARD has been the enactment of the NABARD
(Amendment) Act, 2018 by the Indian Parliament.
The amendment raised the authorised capital of
NABARD from 5,000 crore to 30,000 crore.
This will enable NABARD to expand its business in
consonance with the mandate.
I am glad to note that foodgrains production
during the year 2017–18 peaked to a record level of
279.5 million tonnes. Interestingly, since 2009–10
a Rabi-orientation in foodgrains production has
been often observed. This represents a structural
break that steps up demand for irrigation and
other inputs, creating a challenge that needs to be
Sinchayee Yojana (PMKSY), to expanding irrigation
and improving water-use efficiency. NABARD
is funding, as a part of PMKSY, 101 identified Harsh Kumar Bhanwala
irrigation projects in 18 states under the Long Term
Irrigation Fund (LTIF). Targeted to be completed
by 2019, the projects would augment irrigated area
by 7.9 million hectares. It is equivalent to nearly 5.6
per cent of net sown area of the country. This is in
addition to NABARD’s existing support mechanisms
for irrigation projects.
NABARD’s strategy has always been to build rural
infrastructure which spurs capital formation through





 

met. Investing in irrigation, a proven strategy for term loans grew at 18.4 per cent during the last ten
improving and stabilising incomes, can alleviate years and share of term loans in ground level credit
distress while smoothening the year-to-year (GLC) to the sector steadily increased to 35.6 per cent
variability in growth in Gross Value Added (GVA) in 2017–18. I must place on record the increasingly
from agriculture. Government of India (GoI) and important role played by banks in enhancing term
NABARD therefore accorded high priority, through loans and thereby capital formation in agriculture.

vi vii
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4.1 Credit Planning 74

4.2 Policy 74
4.3 Operations 79
Contents 4.4 Credit Enhancement through Developmental Initiatives 82
4.5 Channelling Government of India Sponsored Schemes for Credit Enhancement 83
4.6 Way Forward 84
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5.1 Supporting Rural Cooperative Credit Structure 86
5.2 Supporting Regional Rural Banks 88
5.3 Supervision of Rural Financial Institutions 88
NABARD at a Glance xiv 5.4 Performance of Rural Financial Institutions 92
Key Data References xv ;&

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 6.1 Rural Infrastructure in Perspective 98
6.2 Rural Infrastructure Development Fund (RIDF) 100
6.3 Long-Term Irrigation Fund 107


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6.5 Warehouse Infrastructure Fund 109
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1.1 State of the Indian Economy: 2017–18 4 6.7 Pradhan Mantri Awaas Yojana–Gramin (PMAY-G) 111
1.2 Agriculture and Allied Sectors 6 6.8 New Initiatives on the Anvil 111
1.3 Rural Sector 15 6.9 Way Forward 112
1.4 Role Played by NABARD 17
1.5 Way Forward 17 #&

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References 17 7.1 Management 114
7.2 Human Resource Development 114
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2.1 Introduction 20 7.4 Subsidiaries of NABARD 122
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2.3 Status of Producer Organisations: Numbers Speak 22 8. Financial Performance
2.4 FPO: Size Matters 24 8.1 Sources of Funds 124
2.5 Key Activities and Issues 25 8.2 Uses of Funds 127
2.6 Factors Impacting FPO Performance 28 8.3 Income and Expenditure 129
2.7 Challenges in Building Sustainable FPOs 30 8.4 Capital Adequacy 129
2.8 Support System 31 8.5 Subsidiaries of NABARD 130
2.9 The Way Forward 34 8.6 NABARD: Strategic Investments 130
2.10 Conclusion 35 8.7 Investments in Venture Capital Funds (VCF) 130
References 35
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3.2 Enhancing Income, Promoting Inclusion, and Securing Livelihoods 54    )
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3.3 Supporting Research and Sharing Knowledge 68 Balance Sheet 138

viii ix
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Cash Flow 188 4.5 Region-wise Disbursement 81
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5.2 Performance of StCBs 92
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5.7 Capital Adequacy of DCCBs (as on 31 March) 93
Cash Flow 230 5.8 Performance of SCARDBs 94
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6.1 Progress of Select Infrastructure Indicators in the Country 99

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6.2 Infrastructure Financing by NABARD—A Snapshot 100
1.1 GVA and GCF in Agriculture & Allied Sectors 10 6.3 Sector-wise Sanctions, 2017–18 101
1.2 Budgetary Estimates of Select States for Agriculture and Allied sectors, Irrigation and Flood 6.4 State-wise Cumulative Loans Sanctioned and Released under LTIF 107
Control: Capital Expenditure—2017–18 (Revised Estimates) 11 6.5 Status of WIF Loan Sanctions and Disbursements as on 31 March 2018 109
1.3 Production of Commercial Crops 12
1.4 Production of Horticulture Crops—Tomato, Onion, and Potato 13 7.1 Training for Employees, 2017–18 115
1.5 MSP vis-à-vis Cost of Production 13 ƒ_ z%
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1.6 Agency-wise Ground Level Credit Flow 14
1.7 Budgetary Estimates in Select States’ Expenditure for Rural Development – 8.1 Sources of Funds (audited) (as on 31 March 2018) 126
Capital Expenditure 2017–18 (Revised Estimates) 16 8.2 Uses of Funds (audited) (as on 31 March 2018) 128
8.3 Investments in Venture Capital Funds 131
2.1 FPOs Promoted by NABARD as on 31 March 2018: Region-wise 23
2.2 Distribution of FPOs as per Number of Members 24
46
3.1 Completed IGWDP Projects 42 1.1 India’s GDP Growth at Constant (2011–12) Prices 4
3.2 A Snapshot of Collaboration Status 45 +_ &%™
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3.3 Progress of SHG–Bank Linkage Programme 54 +< &%™
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3.5 Sanction and Disbursement under FIF 62 1.5 Sector-wise Growth Rate (%) of GVA at Basic Price (at 2011–12 prices) 7
3.6 Transactions on the 50 Tablet-based microATMs (1 April 2017–31 March 2018) 63 1.6 Sector-wise Share of GVA at Basic Price (at 2011–12 prices) 7
1.7 Production of Foodgrains 12
4.1 Credit Limits under ST-SAO 75 1.8 CAGR (%) (2008–09 to 2017–18) 12
4.2 Credit Limits under Additional ST-SAO 75 1.9 Agency-wise Share (%) of Credit Flow to Agriculture 14

x xi
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1.10 Ground-Level Credit Flow to Agriculture and Allied Sector 14 =X6

1. 11 Share (%) of Term Loan in Ground-Level Credit 15
1.12 Share (%) of Agri-Credit to Agri-GVA 15 1.1 Announcements for Agriculture & Rural Sector in Union Budget 2018–19: Highlights 8
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2.2 SWOT Analysis of FPOs 31
3.1 Centre for Climate Change 39
3.1 Watershed Development Projects of NABARD (as on 31 March 2018) 42 3.2 Impact Assessment of Watershed Projects in Tamil Nadu 44
3.2 Watershed Project Implementation Mechanism 43 3.3 KfW-NABARD Adivasi Development Programme, Gujarat-Phase I—
3.3 Progress of SHG–Bank Linkage Programme 55 Ex-post Evaluation Study 48
3.4 Impact of TDF Projects in Andhra Pradesh—Study Findings 50
4.1 CFF Sanctions & Disbursements 80 3.5 New Policy of the Farmers’ Club Programme 58
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4.3 Share of Disbursements by Region 81 3.7 Some Important Events of the Year 71
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5.2 CRAR as on 31 March 2017 90 6IJ66
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5.4 Frequency Distribution of RRBs by CRAR 96 2.1 Mulkanoor Cooperative Society: A Beacon of Hope for Cooperatives 21
2.2 Srigiripura Horticulture Farmer Producer Company Limited 26
6.1 State-wise Rural Infrastructure Index 99 2.3 Basavana Bagewadi Horticulture Farmer Producer Company Limited 27
6.2 RIDF Tranche-wise Allocations since Inception 101 2.4 Amrapali FPO: Farmers’ Hope 28
6.3 Sector-wise Disbursements during 2017–18 101 2.5 Mahashakti Mahila Milk Producer Company Limited 28
6.4 Sector-wise Sanctions during the Last Three Years 102 2.6 Nava Jyoti Producer Company Ltd: Serving Tribal Farmers 29
6.5 Region-wise Disbursement under RIDF during the Last Three Years 102
6.6 Region-wise Cumulative Fund Utilisation at a Glance 103 3.1 Promoting Integrated Farming System to Mitigate Climate Change Impact in Kerala 40
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6.9 Salient Projects Sanctioned under NIDA during 2017–18 108 3.4 Suresh Singh’s Wadi, Surguja District, Chhattisgarh 49
6.10 Sector-wise Sanctions under NIDA as on 31 March 2018 109 3.5 Sakhiya Uikey’s Wadi, Chhindwara District, Madhya Pradesh 51
3.6 From Pond to Plate—A UPNRM Success Story of the Integrated Fish
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3.7 Promoting Beekeeping—Journey from a Solitary Intervention to a Business Model 53
8.1 Balance Sheet Size as on 31 March 124 3.8 Dream Weavers on the Banks of the Brahmaputra 57
8.2 Gross Income 129 3.9 Adivasi Utthan Farmer Producers’ Company Ltd. 60
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8.5 Business per Employee 129
8.6 Capital Adequacy Ratio (%) 130 6.1 Clean Energy for Greener India—Setting up of 10 MW Teesta Canal Bank Grid
8.7 Investment in Subsidiaries 130 Connected Solar Photovoltaic Power Plant, West Bengal (East) 104
8.8 Investments in Venture Capital Funds 131 6.2 Drinking Water to every Rural Household—Mission Bhagiratha,
Rural Water Supply, Telangana (South) 105

xii xiii
 NABARD at a Glance Key Data References
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Net Net
Sources of Fund 2018 2017 Uses of Funds 2018 2017
Accretion Utilisation
Cash and Bank Balances 17480 11612 5868 *52:7+5$7(,1',))(5(176(&7256 6(&725$/6+$5(LQ*9$DW²SULFHV
Capital 10580 6700 3880
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Collateralised Borrowing and Lending
1204 1349 –145 3URYLVLRQDO
Reserves & Surplus 27731 24771 2960 Obligation (VWLPDWH   
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Investments in
NRC (LTO) Fund 14491 14489 2 3URYLVLRQDO(VWLPDWH

Government Securities 15589 11366 4223

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NRC (Stabilisation) Fund 1591 1589 2 Other Approved Securities 0 198 –198 DW²SULFHV   
Equity Shares 1137 218 919 ²
Deposits (Tea/Rubber/Coffee) 164 219 –55
Debenture and Bonds 2427 1307 1120
Bonds and Debentures 74021 50537 23484 Shareholding in Subsidiaries and Joint
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180 180 0   
Borrowings from GoI 0 0 0 Others 9060 9505 –445 ²

Sub Total 28393 22774 5619

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Borrowings JNN Solar Mission 3 15 –12
Loans and Advances      
Foreign Currency Loan 812 684 128
Production & Marketing Credit 66128 73553 –7425
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Commercial Paper 32040 16193 15847 Conversion Loans for Production Credit 633 1065 –432
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Medium Term and Long Term Project 6WDWLVWLFVDQG3URJUDPPH,PSOHPHQWDWLRQ*R,3UHVV1RWHGDWHG0D\
Borrowing against STD 0 750 -–750 Loans (Refer Note B -24 of Schedule 18)
120095 101531 18564 2YHUDOO*'3*URZWK    
Direct refinance to DCCBs 2950 2565 385
CBLO 2457 7319 –4862 6RXUFHV.H\(FRQRPLF,QGLFDWRUV0D\7DEOH %2IÀFHRI
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Certificate of Deposits 4001 7479 –3478 Loans under Rural Infrastructure 3URYLVLRQDOHVWLPDWHVRI1DWLRQDO,QFRPH²&620LQLVWU\RI
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Term Money Borrowings 3229 2193 1036 4296 3402 894
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Loans under NABARD Infrastructure
7241 4978 2263
RIDF Deposits 116314 105502 10812 Development Assistance (NIDA)
Loans to Producers’ Organisation
220 317 –97 *5266&$3,7$/)250$7,21*&),1 '(7$,/62)/$1'+2/',1*661$36+27
STCRC Fund 45000 45009 –9 Development (Net of provision) $*5,&8/785($7²35,&(6
ST RRB Credit Refinance Fund 10000 10003 –3
Credit Facility to Federations [CFF]** 11954 6961 4992 7RWDORSHUDWLRQDOKROGLQJVLQ,QGLD 
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Loans under Food Processing Fund 239 140 99
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PMAY - G 7329 0 7329 6KDUHRIDJULFXOWXUHDQGDOOLHG  
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Other Liabilities* 12346 13742 –1396
Sub Total 354704 308631 46073 1HW6RZQ$UHDPLOOLRQKHFWDUH
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Fixed Assets 471 391 80 (FRQRPLF$GYLVHU0LQLVWU\RI&RPPHUFHDQG,QGXVWU\*R,1DWLRQDO
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Shri Vijaykumar Shri A. K. Raybarman Smt. R. Kakati Baruah Dr.K.C. Panigrahi Shri Kishan Singh
Shri S. N. A. Jinnah Shri M. K.Mudgal Dr. S. Saravanavel Shri S. K. Bansal Shri S. Selvaraj
(Jammu & Kashmir) (West Bengal) (Assam) (Odisha) (Himachal Pradesh)
(Chennai) (CPD) (OFDD/Rajbhasha) (FD/DSSI) (RMD)

Shri Bibhisan Naik Shri M. K. Chandekar Shri Sunil Chawla Shri Arun K Shukla Shri Asit Kumar Mohanty
Shri K. Venkateswara Rao Shri M. I. Ganagi Shri G. R. Chintala Shri Jiji Mammen Shri A. K. Sahoo (DPSP) (ID) (Gujarat) (Haryana) (New Delhi)
(DOS) (Karnataka - OIC) (mCID) (CEO, MUDRA) (SECY)

Shri H.S. Singh Shri N.P. Mohapatra Shri S.K. Mazumdar Shri K. Suresh Kumar Shri A. K. Singh
(DIT) (Chhattisgarh) (Bihar) (Andhra Pradesh - OIC) (Rajasthan)
Shri A. K. Panda Shri P. V. S. Surya Kumar Smt. Padma Raghunathan Shri K. R. Rao Smt. T. S. Raji Gain
(Uttar Pradesh) (BID/CCD) (DOR) (Madhya Pradesh) (FSPD)

Shri Ranbir Singh Shri R.K. Deb Barman Shri A. Chandrasekhar Shri L.R. Ramachandran Shri R. Srinivasan
(DSM) (AD) (Andhra Pradesh) (Karnataka) (DFIBT)

Shri Shankar A. Pande Dr. U. S. Saha Smt. Sarita Arora Shri P. Radhakrishnan Dr. P. M. Ghole
(SPD) (DEAR) (IDD) (Telangana) (FSDD)

*7
=:
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Shri Subrata Mandal Shri R. Sundar Shri D. N. Magar Shri P. C. Chaudhri Shri Deepak Kumar Shri Naresh Gupta Dr. D. V. Deshpande Shri Subrata Gupta Shri S. Dwivedi Shri H.B. Songadkar
(Jharkhand) (Kerala) (Uttarakhand) (HRMD/ LAW) (Punjab) (CEO, NABCONS, New Delhi) (Director, BIRD, Lucknow) (CEO, NABFINS) (CEO, NABKISAN) (MD, NABSAMRUDDHI)

xviii xix
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Shri K. Marjit Smt. Anjana Lama Shri Sunil Kumar I Shri S. V.Sardesai Ms. K. S. Pai
(BIRD, Bolpur) (Sikkim) (Agartala) (NBSC, Lucknow) (BIRD – Mangalore)

Shri B.V.S. Prasad Shri V. R. Khusro Shri S.K. Dhumal Shri P.N. Praveen Kumar Shri R.K. Srivastava
 
  

(Andaman and Nicobar) (Goa) (Nagaland) (Manipur) (Mizoram)

   
Dr. Gyanendra Mani Smt. L. Leivang Shri Pushphas Pandey
(Arunachal Pradesh) (Meghalaya) (Srinagar Cell)

xx
1
The Year in
Retrospect

1.1 State of the Indian Economy: 2017–18

1.2 Agriculture and Allied Sectors

1.3 Rural Sector

1.4 Role Played by NABARD

1.5 Way Forward

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Uttar Pradesh 3,68,401 22,403 4,261 19.0 6.1
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Disbursement Share (%) Disbursement Share (%) Disbursement Share (%) 
SCBs 22,824 47.49 25,834 48.29 40,000 61.32
RRBs 12,140 25.26 11,370 21.25 11,537 17.68 :HVWHUQ
StCBs 6,231 12.96 6,434 12.02 7,086 10.86 6RXWKHUQ
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8 National Project on Organic Farming 5 1.06 716 27.00
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10 Solar Pumping 1,569 9.00 4,402 90.00

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households.
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and facilities needed for the operation of any
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economy. While productivity enhancement of an All-weather Road, to the eligible
B. Telecommunications
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infrastructure, markets that are functioning well, ½  '  ±
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irrigation, roads and bridges, drinking water and amenities, to all homeless households and (1999) (2013)
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Clean Energy for Greener India—Setting up of 10 MW Teesta Canal Bank

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2 Assam 168.03 0.00 0.00 0.00
3 Bihar 134.00 0.00 67.73 0.00
4 Chhattisgarh 126.69 0.00 42.32 0.00
5 Gujarat 8,158.50 3,611.03 3,577.81 1,383.04
6 Jammu & Kashmir 21.14 0.00 9.58 0.00
7 Jharkhand 1,847.00 518.10 450.85 518.10
8 Karnataka 1,837.34 0.00 563.06 0.00
9 Madhya Pradesh 3,537.52 2,863.18 569.45 733.35
10 Maharashtra 3,365.31 7,826.13 603.70 3,682.84
11 Manipur 309.86 73.56 152.41 19.31
12 Odisha 2,299.67 3,216.49 1,016.29 1,233.27
13 Punjab 143.71 0.00 52.42 0.00
14 Rajasthan 983.85 196.32 265.23 101.45
15 Telangana 3,316.98 0.00 268.89 0.00
16 Uttar Pradesh 4,569.86 0.00 201.23 0.00
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 Œ$&’  + 4. Omnivore India Capital Trust (Omnivore)
8.5 SUBSIDIARIES OF NABARD "
 Drawdown released 5. Tata Capital Innovations Fund (TCIF)
200 crore
(as on 31 March 2018) 6. India Opportunities Fund (IOF)
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 (as on 31 March 2018) 10. India Nivesh Growth & Special Situations Fund
/ ž  &

‰ `Ÿ" Œž&»’  {<{ 11. IvyCap Ventures Trust Fund – II (IvyCap-II)
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 12. India Advantage Fund
Figure 8.7 Investment in Subsidiaries Capital Gains 7.74 crore
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of
NABARD
 INDEPENDENT AUDITORS’ REPORT
To,
The Board of Directors of
National Bank for Agriculture and Rural
Development
REPORT ON THE STANDALONE FINANCIAL
STATEMENTS
We have audited the accompanying standalone
financial statements of National Bank for
Agriculture and Rural Development (the Bank),
which comprise the Balance Sheet as at March
31, 2018, Profit and Loss Account and the Cash
Flow Statement for the year then ended, and a
summary of significant accounting policies and
other explanatory information. Incorporated in
these financial statements are the returns of 15
Regional Offices and 1 Training Centre visited
by us for the purposes of audit and the same
including Head Office account for 76.86% of
advances, 99.89% of deposits and term money
borrowings, 79.97% of interest income and
99.85% of interest expenses. These Offices
and Training Centre have been selected in
consultation with the Bank. We have not visited
balance offices of the Bank i.e. 16 Regional
Offices and 2 Training Centres and have
reviewed their returns at the Head Office.
135
MANAGEMENT’S RESPONSIBILITY
FOR THE STANDALONE FINANCIAL
STATEMENTS
Management is responsible for the preparation
of these financial statements in accordance with
the National Bank for Agriculture and Rural
Development (Additional) General Regulations,
1984, that give a true and fair view of the
financial position, financial performance, and
cash flows of the bank. This responsibility also
includes maintenance of adequate accounting
records for safeguarding the assets of the Bank
and for preventing and detecting frauds and
other irregularities; selection and application
of appropriate accounting policies, making
judgments and estimates that are reasonable
and prudent, and design, implementation and
maintenance of adequate internal financial
controls, that were operating effectively for
ensuring the accuracy and completeness of the
accounting records, relevant to the preparation
and presentation of the financial statements
that give a true and fair view and are free from
material misstatement, whether due to fraud
or error.
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

AUDITOR’S RESPONSIBILITY OPINION dealt with by this report are in agreement

with the books of accounts and with the
1. In our opinion, as shown by books of bank, 
"#

 
ª"

Our responsibility is to express an opinion on
and to the best of our information and training centres not visited by us.

!" 





We conducted our audit in accordance with the
Standards on Auditing issued by the Institute of
Chartered Accountants of India. Those Standards
require that we comply with ethical requirements
and plan and perform the audit to obtain

according to the explanations given to us;
a. the Balance Sheet, read with the notes In our opinion, the aforesaid Standalone
thereon, containing all the necessary Financial Statements comply with the applicable
particulars, is properly drawn up so as Accounting Standards.
to exhibit a true and fair view of state of

#*
ž"<+_{+‡
For Vyas & Vyas


 

"
'!" 
statements are free from material misstatement.
in conformity with accounting principles
Chartered Accountants
generally accepted in India;
(Firm Registration No 000590C)
  %
!  ”


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  '
An audit involves performing procedures to the notes thereon shows a true balance
obtain audit evidence about the amounts and
# 
!  "
#
‰ ' ""


"


   !" 

 z O.P.Vyas
principles generally accepted in India,
procedures selected depend on the auditor’s Partner
for the period ended on that date; and
judgement, including the assessment of the risks of (Membership No. 014081)
c. the Cash Flow Statement gives a true
 


#!" 

  # '
#  "
 ™
'
 #
 
whether due to fraud or error. In making those Place: Shillong
year ended on that date.
risk assessments, the auditor considers internal Date: 25 May 2018
!" "

 
*˜



#!"   # REPORT ON OTHER LEGAL AND
view in order to design audit procedures that are REGULATORY REQUIREMENTS
appropriate in the circumstances but not for the
purpose of expressing an opinion on whether the
z "‹%
!”
""

*  "œ !" 
have been drawn up as per Schedule ‘A’ and
"

 ‰ 
 !"  
  
Schedule ‘B’ of Chapter IV of National Bank for

" 
# ""


Agriculture and Rural Development (Additional)
also includes evaluating the appropriateness of
General Regulations, 1984.
accounting policies used and the reasonableness
of the accounting estimates made by management, As required by the National Bank for
as well as evaluating the overall presentation of Agriculture and Rural Development (Additional)
!"    General Regulations, 1984, we report that:

We believe that the audit evidence we have a. We have sought and obtained all the

  ª"



 information and explanations which to
a basis for our audit opinion on the standalone the best of our knowledge and belief were
!"    necessary for the purposes of our audit.
b. The transactions of the Bank, which have
come to our notice, have been within the
powers of the Bank.
" 


   " ‹ %
!
and Loss Account and Cash Flow Statement

136 137
 []]€[[ZZ@€]Q~_{+ƒ†+‡

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT

BALANCE SHEET AS ON 31 MARCH 2018
(  in thousands)

=
6I As on As on
Sr. No PROPERTY AND ASSETS SCHEDULE
31.03.2018 31.03.2017
1 Cash and Bank Balances 9 18684,68,69 12961,09,69

2 Investments 10 30985,43,18 26450,35,95

3 Advances 11 352110,55,00 304955,05,69

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
BALANCE SHEET AS ON 31 MARCH 2018 4 Fixed Assets 12 471,19,46 390,76,10

( in thousands) 5 Other Assets 13 4389,75,26 3503,00,40

Sr.No FUNDS AND LIABILITIES SCHEDULE As on 31.03.2018 As on 31.03.2017   Total   406641,61,59 348260,27,83

          Forward Foreign Exchange Contracts

    8343870 6033741
(Hedging) as per contra
1 i) Capital   5000,00,00 5000,00,00
  Commitment and Contingent Liabilities 17    
  (Under Section 4 of the NABARD Act, 1981)      
Significant Accounting Policies and Notes
  18    
  ii) Advance towards Share Capital   5580,00,00 1700,00,00 on Accounts

  (Refer Note B–29.1 of Schedule 18)      

  Total   10580,00,00 6700,00,00 Schedules referred to above form an integral part of accounts
2 Reserve Fund and other Reserves 1 27731,19,68 24770,97,15 As per our attached report
of even date
3 National Rural Credit Funds 2 16082,00,00 16078,00,00
Vyas & Vyas
Chartered Accountants
4 Gifts, Grants, Donations and Benefactions 3 5456,12,02 4943,94,59
FRN . 000590C
5 Government Schemes 4 1423,33,19 2145,70,02

6 Deposits 5 214449,97,42 194414,81,97 O P Vyas

R K Deb Barman
Partner
7 Bonds and Debentures 6 74021,12,13 50537,50,41 Chief General Manager
M No. 014081
Accounts Department
8 Borrowings 7 44552,55,98 34927,14,50 Shillong
Date : 25 May 2018
Date : 25 May 2018
9 Current Liabilities and Provisions 8 12345,31,17 13742,19,19

  Total   406641,61,59 348260,27,83

Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash
          Chairman Deputy Managing Director Director Director
  Forward Foreign Exchange Contracts   834,38,70 603,37,41

  (Hedging) as per contra      

138 139
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2018 PROFIT AND LOSS APPROPRIATION ACCOUNT
( in thousands) ( in thousands)

Sr. No. APPROPRIATIONS / WITHDRAWALS 2017–18 2016–17

Sr. No. INCOME SCHEDULE 2017–18 2016–17
1 Profit for the year brought down 2961,94,51 2645,50,46
2 Add:    
1 Interest received on Loans and Advances   21226,01,09 19068,82,92
Withdrawals from funds against expenditure debited to
   
Profit & Loss A/c (Refer Schedule 1)
2 Income from Investment Operations / Deposits   2983,03,07 3020,01,93
a) Co-operative Development Fund 18,77,58 16,72,43
3 Other Income( Refer Note B–8 of Schedule 18)   181,64,82 187,50,66 b) Research and Development Fund 28,93,47 15,91,28
c) Producers Organisation Development Fund 2,55,94 4,10,43
  Total “A”   24390,68,98 22276,35,51 d) Investment Fluctuation Reserve 148,01,07 122,43,39
e) Rural Infrastructure Promotion Fund 2,49,48 1,58,41
Sr. No. EXPENDITURE SCHEDULE 2017–18 2016–17 f) Farm Sector Promotion Fund 20,88,29 21,19,64
g) Climate Change Fund 1,03,53 4,95
Interest and Financial Charges (Refer Note B–7 h) Gramya Vikas Nidhi 6,78,99 0
1 14 17847,06,94 16267,33,10
of Schedule–18) 2.1 Withdrawals of Funds which have been closed    
a) mFDEF ( Refer Note B–4 of Schedule 18) 28,03 1,46,00
2 Establishment and Other Expenses 15 A 1934,33,36 1953,21,66
3 Profit available for Appropriation 3191,70,89 2828,96,99
3 Expenditure on Promotional Activities 15 B 52,53,81 43,66,08 Less: Transferred to:    
a) Special Reserves u/s 36(1) (viii) of IT Act, 1961 700,00,00 650,00,00
4 Provisions 16 186,13,11 168,01,24 b) National Rural Credit (Long Term Operations) Fund 1,00,00 1,00,00
c) National Rural Credit (Stabilisation) Fund 1,00,00 1,00,00
5 Depreciation   16,82,25 27,29,97 d) Research and Development Fund 28,93,47 15,91,28
e) Investment Fluctuation Reserve 374,01,07 95,43,39
          f) Co-operative Development Fund 18,77,58 10,30,24
g) Producers’ Organizations Development Fund 2,55,94 61,09,81
  Total “B”   20036,89,47 18459,52,05 Rural Infrastructure Promotion Fund 6,27,28 0
h)
i) Farm Sector Promotion Fund 20,88,29 21,19,64
6 Profit before Tax (A – B)   4353,79,51 3816,83,46
j) Gramya Vikas Nidhi 26,78,99 20,00,00
7 Provision for       k) Climate Change Fund 6,03,53 5,04,95
l) Reserve Fund 2005,44,74 1947,97,68
a) Income Tax 1405,00,00 1190,00,00
  Total 3191,70,89 2828,96,99

b) Deferred Tax ( Refer Note B–10 of Schedule #‹" +‡#

‹!"""
%
" 
 
""
 
    –13,15,00 –18,67,00
18)
As per our attached report of even date
8 Profit after Tax   2961,94,51 2645,50,46 Vyas & Vyas
Significant Accounting Policies and Notes on Chartered Accountants
  18    
Accounts FRN . 000590C
O P Vyas
Schedules referred to above form an integral part of accounts R K Deb Barman
Partner
Chief General Manager
M No. 014081
Accounts Department
Shillong
Date : 25 May 2018
Date : 25 May 2018

Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash

Chairman Deputy Managing Director Director Director

140 141
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

SCHEDULES TO BALANCE SHEET Schedule 3 – Gifts, Grants, Donations and Benefactions

Schedule 1 – Reserve Fund and Other Reserves ( in thousands)
( in thousands) Opening Addition /
Interest Expenditure / Balance
Sr. Particulars Balance Adjustment
Opening Transferred From Transferred to Credited Disbursement as on
Sr. Balance as on No as on during the
Particulars Balance as on P&L P&L to the fund during the year 31.03.2018
No. 31.03.2018 01.04.2017 year
01.04.2017 Appropriation Appropriation
1 Reserve Fund 16350,94,41 2005,44,74 0 18356,39,15 Grants from International
A.          
Research and Development Agencies
2 50,00,00 28,93,47 28,93,47 50,00,00
Fund
KfW – NABARD V Fund for
3 Capital Reserve 74,80,53 0 0 74,80,53 1 Adivasi Programme (Refer Note 1,17,74 2,94,57 1,06 3,02,42 1,10,95
B–2 of Schedule 18)
4 Investment Fluctuation Reserve 924,00,00 374,01,07 148,01,07 1150,00,00
Co-operative Development KfW NB UPNRM –
5 60,00,00 18,77,59 18,77,59 60,00,00 2 0 2,00,24 0 2,00,24 0
Fund Accompanying Measures
Special Reserves Created & KfW NB UPNRM – Financial
6 Maintained u/s 36(1)(viii) of 7085,00,00 700,00,00 0 7785,00,00 3 0 15,30 0 57 14,73
Contribution
Income Tax Act, 1961

Producers’ Organisation 4 KfW UPNRM Fund 0 8,66,75 0 8,66,75 0

7 100,00,00 2,55,94 2,55,94 100,00,00
Development Fund
Indo German Watershed
Rural Infrastructure Promotion Development Programme –
8 16,22,21 6,27,27 2,49,48 20,00,00 5 1,17,05 0 4,68 0 1,21,73
Fund Andhra Pradesh ( Refer Note
B–2 of Schedule 18)
9 Farm Sector Promotion Fund 60,00,00 20,88,29 20,88,29 60,00,00
Indo German Watershed
10 Gramya Vikas Nidhi 40,00,00 26,78,99 6,78,99 60,00,00 Development Programme –
6 2,99,75 67,82 6,23 3,73,80 0
Gujarat (Refer Note B–2 of
11 Climate Change Fund 10,00,00 6,03,53 1,03,53 15,00,00 Schedule 18)

  Total 24770,97,15 3189,70,89 229,48,36 27731,19,68 Indo German Watershed

Development Programme –
7 2,11,06 3,15,34 4,83 5,31,23 0
  Previous year 22126,00,69 2826,96,99 182,00,53 24770,97,15 Rajasthan (Refer Note B–2 of
Schedule 18)
GIZ UPNRM Technical
8 38,33 0 0 38,33 0
Collaboration
Climate Change – (AFB)
Schedule 2 – National Rural Credit Funds – Project Formulation
9 7,56,91 6,92,19 0 7,25,93 7,23,17
( in thousands) Grant/Programme /Project
Implementation
Opening National Adaptation Fund for
Sr. Contribution by Transferred from Balance as on
Particulars Balance as on 10 Climate Change a/c (Refer note 166,34,12 115,36,00 6,46,39 74,66,16 213,50,35
No. RBI P&L Appropriation 31.03.2018
01.04.2017 B–2 of Schedule 18)
National Rural Credit (Long
1 14489,00,00 1,00,00 1,00,00 14491,00,00 11 GIZ Soil Project 58,80 76,63 0 1,18,87 16,56
Term Operations) Fund

National Rural Credit 12 KfW Soil Project 0 10,71,69 0 10,71,69 0

2 1589,00,00 1,00,00 1,00,00 1591,00,00
(Stabilisation) Fund

Total 16078,00,00 2,00,00 2,00,00 16082,00,00

Previous year 16074,00,00 2,00,00 2,00,00 16078,00,00

142 143
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Schedule 4 – Government Schemes

Opening Addition / Interest Expenditure /
Sr. Particulars Balance as on
Balance as on Adjustment Credited to Disbursements ( in thousands)
No 31.03.2018
01.04.2017 during the year the fund during the year
Opening Addition / Interest Expenditure / Balance
B. Other Funds           Sr. Particulars
Balance as on Adjustment Credited to Disbursements as on
No.
Watershed Development Fund 01.04.2017 during the year the fund during the year 31.03.2018
1 (Refer Note B–2 of Schedule 1210,48,81 60,10,28 65,95,58 95,01,49 1241,53,18
18) (i) A Government Subsidy Schemes
Interest Differential Fund – Capital Investment Subsidy for
2 244,21,11 20,04,89 0 21,91,99 242,34,01 1 55,47 0 0 0 55,47
(Forex Risk) Cold Storage Projects – NHB
Capital Subsidy for Cold Storage
Interest Differential Fund – 2 8,40 0 0 0 8,40
3 10,00 0 0 0 10,00 TM North East
TAWA Credit Linked Capital Subsidy for
3 19,73 0 0 19,73 0
Technology Upgradation of SSIs
4 Adivasi Development Fund 5,77,47 0 0 0 5,77,47 On-farm Water Management for
4 7,17 0 0 0 7,17
Crop Production
Tribal Development Fund (Refer
5 1016,56,45 227,36,15 73,76,67 195,16,30 1122,52,97 Bihar Ground Water Irrigation
Note B–2 of Schedule 18) (ii) 5 77,91,88 99,96 0 0 78,91,84
Financial Inclusion Fund Scheme (BIGWIS)
6 (Refer Note B–2 of Schedule 2186,49,15 376,62,00 84,88,14 423,79,92 2224,19,38 Cattle Development Programme –
18) (iii) 6 Uttar Pradesh (Refer Note B–2 of 2,50 0 16 0 2,66
Schedule 18)
Financial Inclusion Fund –
7 Digital(Refer Note B–2 of 0 213,78,00 1,56,73 1,31,50 214,03,23 Cattle Development Programme –
Schedule 18) 7 Bihar (Refer Note B–2 of Schedule 5,94 0 39 0 6,33
18)
8 PODF-ID (iv) 0 10518,00 0 36,40,07 68,77,93
National Project on Organic
National Bank – Swiss 8 1,56,43 0 0 1,40,32 16,11
9 61,87,13 86,10 0 0 62,73,23 Farming
Development Coop. Project
Integrated Watershed
RPF & RIF – Off-Farm Sector 9 Development Programme – 4,29,45 0 0 0 4,29,45
10 31,39,99 3,87,78 0 12,50,63 22,77,14
Promotion Fund Rashtriya Sam Vikas Yojana
Centre for Professional Dairy and Poultry Venture Capital
10 5,38,74 2,31,98 0 0 7,70,72
Excellence in Co-operatives Fund
11 2,18,43 0 14,36 0 2,32,79
– (C-PEC) (Refer Note B–2 of 11 Poultry Venture Capital Fund 1,92,37 1,22,06 0 0 3,14,43
Schedule 18)
LTIF Interest Fluctuation ISAM – Agricultural Marketing
12 201,53,85 378,08,00 0 496,74,67 82,87,18
12 Reserve Fund (Refer Note B–6 2,52,29 23,10,91 0 0 25,63,20 Infrastructure
of Schedule 18) ISAM – Grant Recd for
13 1,23 0 0 0 1,23
Promotional Expenditure a/c
  Total 4943,94,59 1182,30,64 232,94,67 903,07,89 5456,12,02
NATIONAL LIVESTOCK MISSION
14 66,47,95 128,08,31 0 90,39,74 104,16,52
  Previous year 4895,17,29 945,25,97 277,72,51 1174,21,19 4943,94,59 – PVCF EDEG
Centrally Sponsored Scheme for
15 1,66,72 0 0 0 1,66,72
establishing Poultry Estate
NABARD is acting as a banker/ custodian/ trustee on behalf of GOI/ RBI/ Other entities and is holding the above funds, pending
disbursement/ utilization in terms of respective schemes, on their behalf, to the extent of contribution made by them and accrued Multi Activity Approach for
interest on unutilized balances, wherever applicable Poverty Alleviation – Sultanpur
16 5,35 0 35 0 5,70
Uttar Pradesh (Refer Note B–2 of
"  _{‡{"
"
Ÿ
Schedule 18)
"  ƒ_‡{"
"
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Multi Activity Approach for Poverty
"  +<{<ˆ"
"
Ÿ Alleviation – BAIF – Rae Bareli,
17 1,43 0 9 0 1,52
"  <“ˆ{"
"
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Uttar Pradesh (Refer Note B–2 of
Schedule 18)

144 145
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Opening Addition / Interest Schedule 5 – Deposits

Expenditure / Balance
Sr. Particulars Balance Adjustment Credited ( in thousands)
Disbursements as on
No. as on during the to the
during the year 31.03.2018 Sr. No Particulars As on 31.03.2018 As on 31.03.2017
01.04.2017 year fund
Dairy Entrepreneurship 1 Central Government 0 0
18 153,08,56 203,02,00 0 277,53,04 78,57,52
Development Scheme 2 State Governments 0 0
19 CSS for Solar Mission 81 1,02 0 0 1,83 3 Others    
  a) Tea / Rubber / Coffee Deposits 164,46,64 219,13,63
CSS – JNNSM – Solar Lighting
20 9,67,68 0 0 1,89,73 7,77,95   b) Deposits under RIDF 116313,92,78 105502,50,34
a/c
CSS – Solar Photovoltaic Water   c) Short Term Cooperative Rural Credit Fund 45000,00,00 45008,70,00
21 54,18,68 0 0 24,25,83 29,92,85
Pumping   d) ST RRB Credit Refinance Fund 10000,00,00 10002,90,00
Capital Subsidy Scheme – Agri   e) Warehouse Infrastructure Fund 4671,00,00 3531,00,00
22 2,39,60 13,56,47 0 13,56,52 2,39,55
Clinic Agri Business Centres
  f) Long Term Rural Credit Fund 38000,58,00 30000,58,00
CSS MNRE Lighting Scheme
23 85,10 0 0 36,03 49,07   g) Fund for Food Processing Units 300,00,00 150,00,00
2016 a/c
  Total 214449,97,42 194414,81,97
Artificial Recharge of
24 4,60,75 0 0 0 4,60,75
Groundwater in Hard Rock Area
Schedule 6 – Bonds and Debentures
B Other Government Schemes           ( in thousands)
Sr. No Particulars As on 31.03.2018 As on 31.03.2017
Agriculture Debt Waiver and
1 Tax Free Bonds 5000,00,00 5000,00,00
1 Debt Relief Scheme (ADWDR) 284,67,61 47,84 0 0 285,15,45
2008 2 Non Priority Sector Bonds 38055,00,00 31479,00,00

Women’s Self Help Groups 3 Capital Gains Bonds 1,29,40 1,29,40

2 94,89,15 0 0 20,71,76 74,17,39 4 Bhavishya Nirman Bonds 3187,82,73 4971,21,01
[SHGs] Development Fund
3 PRODUCE Fund 136,30,79 0 0 43,47,15 92,83,64 5 PMAY-G GOI Fully Serviced Bonds 7330,00,00 0
Revival of 23 unlicensed 6 Bonds – LTIF 15155,00,00 6899,00,00
4 111,22,00 0 0 0 111,22,00
DCCBs 7 LTIF – GOI Fully Serviced Bonds 5292,00,00 2187,00,00
Interest Subvention (Sugar   Total 74021,12,13 50537,50,41
5 18 0 0 0 18
Term Loan)
Scheme for providing
Financial Assistance to Sugar Schedule 7 – Borrowings
6 65,27 0 0 65,27 0
Undertakings – 2007 (SEFASU
– 2007) ( in thousands)

7 Kutch Drought Proofing Project 21,64 0 0 0 21,64 Sr. No Particulars As on 31.03.2018 As on 31.03.2017
  (A) In India    
Revival Package for Long Term
8 Cooperative Credit Structure 20,00,00 0 0 0 20,00,00 1 Central Government 0 0
(LTCCS) 2 JNN Solar Mission 2,81,20 14,55,68
Revival Reform and Restructure 3 Reserve Bank of India 0 0
9 6,15,80 2,91,34 0 2,84,75 6,22,39
of Handloom Sector 4 Others :    
Comprehensive Handloom
10 20,99 38,57 0 38,33 21,23   (i) Certificate of Deposit 4001,11,56 7478,85,53
Package
  (ii) Commercial Paper 32040,36,49 16193,37,51
Interest Subvention (SAO,
11 904,70,82 7335,53,99 0 7814,56,51 425,68,30   (iii) Collateralised Borrowing & Lending Obligation 2457,06,58 7318,66,34
NRLM, NWR) $
  Total 2145,70,04 8066,61,54 99 8788,99,38 1423,33,19   (iv) Term Money Borrowings 3228,58,32 2192,73,31
  (v) Repo a/c 2010,73,48 295,40,36
  Previous year 1425,03,66 1565,49,48 1,06 844,84,16 2145,70,04
  (vi) Borrowing against STD 0 749,99,75
  (B) Outside India    
NABARD is acting as a banker/ custodian/ trustee on behalf of GOI/ RBI/ Other entities and is holding the above funds, pending   (i) International Agencies 811,88,35 683,56,02
disbursement/ utilization in terms of respective schemes, on their behalf, to the extent of contribution made by them and accrued
interest on unutilized balances, wherever applicable   Total 44552,55,98 34927,14,50
¯†  

 
' 
# ‰"
  " †‡ 

 " ˆ

146 147
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Schedule 8 – Current Liabilities and Provisions

Schedule 9 – Cash and Bank Balances
( in thousands)
( in thousands)
Sr. As on As on
Particulars Sr. As on As on
No. 31.03.2018 31.03.2017 Particulars
No 31.03.2018 31.03.2017
1 Interest / Discount Accrued 8871,41,08 9781,81,14 1 Cash in hand 0 1
2 Sundry Creditors $ 375,87,15 833,10,97 2 Balances with :
3 Subsidy Reserve 109,15,09 52,60,65 A) Banks in India

4 Provision for Gratuity (Refer Note B–28 of Schedule 18) 29,97,03 174,05,97 (i) Reserve Bank of India 18,73,146 2229,83,39

5 Provision for Pension (Refer Note B–28 of Schedule 18) 141,42,95 418,08,00 (ii) Other Banks in India
Provision for Encashment of Ordinary Leave (Refer Note a) In Current Account 17,28,99 527,91,26
6 356,05,87 305,50,50
B–28 of Schedule 18)
b) Deposits with Banks 16815,00,00 8846,00,00
Provision for Post-Retirement Medical Benefit (Refer Note
7 131,05,89 126,88,23
B–28 of Schedule 18) c) Remittances in Transit 460,84,72 8,29,28
8 Unclaimed Interest on Bonds 1,69,60 1,68,23
d) Collateralised Borrowing & Lending Obligations 1204,23,52 1349,05,75
9 Unclaimed Interest on Term Deposits 11,52 1,74
(B) Outside India 0 0
10 Term Deposits Matured but not claimed 4,78 9,08  
Total 18684,68,69 12961,09,69
11 Bonds matured but not claimed 71,93,02 4,53,49

12 Bond Premium 10,52,60 1,16,50

Commitment Charges Payable on KfW UPNRM

13 0 9,63 Schedule 10 – Investments
Borrowings
( in thousands)
14 Debt Servicing Reserve 7,70,54 0
Sr. As on As on
15 Provisions and Contingencies     Particulars
No 31.03.2018 31.03.2017
(a) Depreciation in Value G – Sec. 146,44,37 122,43,39 1 Government Securities    

(b) Amortisation of G – Sec. 26,66,77 8,33,13   a) Securities of Central Government & State Govt 13029,00,98 8944,24,48

(c) Standard Assets 1420,50,00 1236,00,00   [Face Value 12481,14,10,000 (8676,75,00,000)]    

  [Market Value 12674,43,46,439 (9018,36,99,746 )]    
(d) Non-performing Investments 34,14,25 16,00,00
  b) Treasury Bills 2560,16,63 2421,35,28
(e) Countercyclical Provisioning Buffer 14,44,89 14,44,89   [Face Value 2715,43,40,000 (2438,76,90,000)]    
  [Market Value 2560,16,62,705 (2421,35,28,106 )]    
(f) Provision for Other Assets & Receivables 8,50,96 8,50,96        
2 Other Approved Securities    
(g) Provision for Income Tax [Net of Advance Tax] 587,62,81 636,82,69   Bill Rediscounting Scheme 0 197,71,14
  Total 12345,31,17 13742,19,19   [Face Value 0 (200,00,00,000)]    
3 Equity Shares in :    
(a) Agricultural Finance Corporation Ltd. 1,00,00 1,00,00
$ an amount of ;{ˆƒ+" 
  
 "#

 ‰
 " †ˆ
  [1,000 (1,000) – Equity shares of 10,000 each]    
(b) Small Industries Development Bank of India 966,27,55 48,00,00
  [5,31,92,203 (1,60,00,000) – Equity shares of 10 each]    
(c) Agriculture Insurance Company of India Ltd. 60,00,00 60,00,00
  [6,00,00,000 (6,00,00,000) – Equity shares of 10 each]    

148 149
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Sr. As on As on Sr. As on As on
Particulars Particulars
No 31.03.2018 31.03.2017 No 31.03.2018 31.03.2017
(d) Multi Commodity Exchange of India Ltd. 30,22 30,22 (xii) Hindustan Construction Co. Ltd 8,06,30 8,06,30
  [3,77,758 (10,70,096) – Equity shares of 10 each]       [23,08,978 (23,08,978) Shares of 10 each]    
(e) National Commodity and Derivatives Exchange Ltd. 16,87,50 16,87,50 (xiii) Bandhan Bank 61,51 0
  [56,25,000 (56,25,000) – Equity shares of 10 each]       [16,403 (0) Shares of 10 each]    
(f) Universal Commodity Exchange Ltd [UCX] @ 16,00,00 16,00,00 4 Debentures and Bonds    
  [1,60,00,000 (1,60,00,000) Shares of 10 each]     Special Dev Debentures of SCARDBs (Refer Note B–24 of
(i) 2592,77,98 3676,14,23
Schedule 18)
(g) Indian Financial Technology and Allied Services [Equity] 0 49
(ii) Non Convertible Debentures 2426,54,78 1307,30,80
  [ 0 (4900) Shares of 10 each]    
5 Shareholding in subsidiaries and Joint Venture    
(h) CSC e-Governance Services India Ltd Equity 9,74,60 9,74,60
(i) NABARD Financial Services Ltd, Karnataka 102,00,63 102,00,63
  [ 55,000 (55,000) Shares of 1000 each]    
  [10,20,06,300 (10,20,06,300] – Equity shares of 10 each]    
(i) Agriculture Skill Council of India 40 40
NABSMRUDDHI (formerly known as Agri – Business Finance
(ii) 26,38,91 26,38,91
  [ 4,000 (4000) Shares of 10 each]     [Andhra Pradesh] Ltd.
(j)  National E-Governance Services India Ltd [Equity] 1,50,00 1,50,00   [ 2,63,22,000 (2,63,22,000) – Equity shares of 10 each]    
  [ 15,00,000 (15,00,0000) Shares of 10 each]     NABKISAN (formerly known as Agriculture Development
(iii) 46,75,16 46,75,16
Financial [TN] Ltd)
National e-Repository Ltd.
(k)  10,53,00 0   [ 46,66,67,000 (46,66,67,000) – Equity shares of 10 each]    
[ 105,30,000 (0) Shares of 10 each]
NABARD Consultancy Services Pvt. Ltd.
(l) Other Equity Investments     (iv) 5,00,00 5,00,00
[50,00,000 (50,00,000) – Equity shares of 10 each]
(i) Coal India Ltd. 0 1,65,56 6 Others    
  [0 (43,389) – Equity shares of 10 each]     (a) Mutual Fund 0 4001,09,28
(ii) MOIL Ltd. 0 25,20 (b) Commercial Paper 3423,54,30 2766,91,10
  [0 (6,719) -Equity shares of 10 each]     (c) Certificate of Deposit 5206,20,83 2311,32,08
(iii) State Bank of India 37,54,25 37,54,25 (d) SEAF – Indian Agri-Business 9,73,06 9,50,08
  [23,98,880 (23,98,880 share of 1 each ) ]     (e) APIDC – Venturies Life Fund III 14,38,07 14,38,07
(iv) Punjab National Bank 0 23,87 (f) BVF (Bio-Tech Venture Fund) – APIDC-V Investment 4,77,62 4,77,62
  [0 (12,000) shares of 2 each]     (g) Omnivore India Capital Trust 22,07,16 19,72,25
(v) Larsen & Toubro Limited 0 17,32 (h) India Opportunities 13,30,09 10,80,62
  [0 shares (1,000) of 2 each]     (i) IvyCap Ventures Fund 18,48,87 19,60,00
(vi) Oil and Natural Gas Corporation Ltd. 4,28,93 4,28,93 (j) Tata Capital Innovation Fund 55,82,63 55,11,31
  [1,87,200 shares (1,87,200) of 5 each]     (k) TVS Shriram Growth Fund IB 15,52,11 19,82,59
(vii) Steel Authority of India Ltd. 0 6,02,34 (l) Golden Gujarat Growth Fund 8,00,00 7,04,00
  [0 shares (8,58,626) of 10 each]     (m) India Nivesh Growth and Special Situations Fund 3,75,00 2,75,00
(viii) Bharat Heavy Electricals Ltd. 1,99,13 1,99,13 (n) Ivycap Ventures Fund – II 2,00,00 1,50,00
  [80,000 shares (80,000) of 2 each]     (o) India Advantage Fund S4 2,90,00 2,90,00
(ix) Maruti Suzuki India Ltd. 1,78,84 1,78,84 (p) IFMR FIMPACT Long Term Credit Fund 10,00,00 0
  [7,000 shares (7,000 ) of 5 each]     Investment Earmarked towards EOL (Refer Note B–25 of
(q) 249,76,14 258,25,14
(x) Tata Consultancy Services Ltd. 0 2,39,88 Schedule 18)
  [0 shares (10,000 ) of 1 each]       Total 30985,43,18 26450,35,95

(xi) Larsen & Toubro Infotech Limited 0 11,35

  [0 ( 1,599) Shares of 2 each]    

150 151
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Schedule 11 – Advances Schedule 12 – Fixed Assets

( in thousands) ( in thousands)
Sr. As on As on Sr.
Particulars Particulars As on 31.03.2018 As on 31.03.2017
No 31.03.2018 31.03.2017 No.
LAND : Freehold & Leasehold ( Refer Note B–22 of
1 Refinance Loans     1    
Schedule 18)
  Opening Balance 176,16,65 168,58,61
(a) Production & Marketing Credit 66128,18,38 73553,36,92
  Additions/adjustments during the year 3,86,19 7,58,04
(b) Conversion Loans for Production Credit 632,76,66 1065,00,22
  Sub-Total 180,02,84 176,16,65
(c) Other Investment Credit       Less: Cost of assets sold/written off 0 0
Medium Term and Long Term Project Loans (Refer Note B –23 of   Closing Balance (at cost) 180,02,84 176,16,65
(i) 120094,96,12 101531,34,76
Schedule 18)   Less: Amortisation of Lease Premia 55,29,63 53,29,82
(ii) Direct refinance to DCCBs 2949,50,70 2565,20,00   Book Value 124,73,21 122,86,83
2 PREMISES ( Refer Note B–22 of Schedule 18)    
(iii) JNN Solar Mission 14,07 1,51,10
  Opening Balance 407,47,74 361,12,36
2 Direct Loans       Additions / Adjustments during the year 5,82,51 46,35,38
(a) Loans under Rural Infrastructure Development Fund 110061,76,71 100981,48,44   Sub-Total 413,30,25 407,47,74
  Less: Cost of assets sold/written off 0 0
(b) Loans under Warehouse Infrastructure Fund 4296,12,13 3402,10,63
  Closing Balance (at cost) 413,30,25 407,47,74
(c) Long Term Non-Project Loans 42,12,53 53,43,12   Less: Depreciation to date 244,24,01 240,89,20
Loans under NABARD Infrastructure Development Assistance   Book Value 169,06,24 166,58,54
(d) 7241,57,49 4978,00,40
(NIDA) 3 FURNITURE & FIXTURES    
(e) Loans to Producers’ Organisation Development 219,61,25 316,57,82   Opening Balance 61,98,40 62,22,94
  Additions/adjustments during the year 6,59,09 54,50
(f) Credit Facility to Federations[CFF] 11954,00,00 6961,00,00
  Sub-Total 68,57,49 62,77,44
(g) Loans under Food Processing Fund 239,40,24 139,78,82   Less: Cost of assets sold/written off 61,98 79,04
(h) Loans under Long Term Irrigation Fund 20446,52,47 9086,02,10   Closing Balance (at cost) 67,95,51 61,98,40
  Less: Depreciation to date 60,91,15 58,96,30
(i) Loans under PMAY – G 7329,43,00 0
  Book Value 7,04,36 3,02,10
(j) Other Loans:     4 COMPUTER INSTALLATIONS & OFFICE EQUIPMENTS    
(i) Loans under Co-operative Development Fund 0 42,86   Opening Balance 102,59,41 98,67,21
  Additions/adjustments during the year 16,06,23 6,86,71
(ii) Loans under Micro Finance Development Equity Fund 0 83,41
  Sub-Total 118,65,64 105,53,92
(iii) Loans under Watershed Development Fund 33,68,88 37,47,02   Less: Cost of assets sold/written off 3,93,34 2,94,51
(iv) Loans under Tribal Development Fund 6,08,15 11,38,51   Closing Balance (at cost) 114,72,30 102,59,41
  Less: Depreciation to date 98,60,20 93,51,60
(v) Loans under KfW UPNRM 181,59,72 68,71,50
  Book Value 16,12,10 9,07,81
(vi) Loans under Off Farm Sector Promotion Activities 252,91,48 200,54,11 5 VEHICLES    
(vii) Loans under Farm Sector Promotion Activities 2,88 4,27   Opening Balance 8,70,06 8,12,27
  Additions/adjustments during the year 2,06,67 2,17,00
(k) Co-Finance Loans 12,14 79,68
  Sub-Total 10,76,73 10,29,27
  Total 352110,55,00 304955,05,69   Less: Cost of assets sold/written off 1,93,33 1,59,20
  Closing Balance (at cost) 8,83,40 8,70,07
  Less: Depreciation to date 4,92,58 4,46,98
  Book Value 3,90,82 4,23,09
6 Capital Work in Progress 150,32,73 84,97,73
  Total 471,19,46 390,76,10

152 153
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Schedule 13 – Other Assets Sr. No. Particulars 2017–18 2016–17

Indo German Watershed Development Programme –
( in thousands) (v) 4,83 64
Rajasthan
Sr. No. Particulars As on 31.03.2018 As on 31.03.2017
(w) Indo German Watershed Development Programme – Gujarat 6,23 21,56
1 Accrued Interest 3301,90,48 2883,08,91
(x) KfW UPNRM – Accompanying measures 0 22
2 Deposits with Landlords 1,27,61 1,20,75 (y) KfW – NB – IX Adivasi Development Programme 0 59,96
3 Deposits with Government Departments and Other Institutions 35,73,55 9,32,36 (z) KFW NB V – Adivasi Project 1,06 7,54
Multi Activity Approach for Poverty Alleviation BAIF Project –
4 Housing loan to staff 127,77,02 121,13,40 (aa) 45 47
Sultanpur / Raebareli, UP
5 Other Advances to staff 96,62,62 90,38,10 (ab) Cattle Development Programme (UP & Bihar) 55 59
6 Sundry Advances 66,98,18 41,37,95 (ac) Tribal Development Fund 73,76,67 57,91,12
Centre for Professional Excellence in Co-operatives
7 Deferred Tax Assets (Refer Note B–10 of Schedule 18) 194,34,02 181,19,02 (ad) 14,35 15,16
(C – PEC)
Expenditure recoverable from Government of India/International (ae) National Adaptation Fund for Climate Change 6,46,39 7,12,69
8 146,44,18 71,04,59
Agencies. (Refer Note B–3 of Schedule 18) Discount, Brokerage, Commission & issue expenses on
2 22,96,68 15,53,26
9 Discount Receivable 418,67,60 104,25,32 Bonds and Securities
3 Swap Charges 6,03 48,46
  Total 4389,75,26 3503,00,40
  Total 17847,06,94 16267,33,10

Schedule 14 – Interest and Financial Charges

Schedule 15 A – Establishment and Other Expenses
( in thousands)
Sr. No. Particulars 2017–18 2016–17 ( in thousands)
Sr.
1 Interest / Discount Paid on     Particulars 2017–18 2016–17
No.
(a) Deposits under RIDF 6276,76,17 6038,85,05 1 Salaries and Allowances ( Refer Note B–9 of Schedule 18) 865,67,89 676,77,85
Short Term Cooperative Rural Credit Fund (Refer Note B–7 of
(b) 1954,54,21 2452,44,43 2 Contribution to / Provision for Staff Superannuation Funds 699,13,36 957,43,35
Schedule 18)
ST RRB Credit Refinance Fund ( Refer Note B–7 of Schedule 3 Other Perquisites & Allowances 54,96,15 38,46,90
(c) 438,73,22 694,02,10
18)
Travelling & Other allowances in connection with Directors’ &
(d) Warehouse Infrastructure Fund 221,74,67 214,13,98 4 33,59 33,79
Committee Members’ Meetings
(e) Long Term Rural Credit Fund 1586,40,35 1333,72,13
5 Directors’ & Committee Members’ Fees 9,82 6,20
(f) Fund for Food Processing Units 13,48,10 7,23,53
(g) Tea / Coffee / Rubber Deposits 7,87,99 11,49,55 6 Rent, Rates, Insurance, Lighting, etc. 34,79,23 34,80,06
(h) CBS Deposits 1,05 72
7 Travelling Expenses 39,30,88 36,89,38
(i) Loans from Central Government 0 52,33
(j) Term Money Borrowings 159,40,74 98,45,04 8 Printing & Stationery 5,43,73 4,90,79
(k) Bonds (Refer Note B–7 of Schedule 18) 4475,30,27 3626,21,17 9 Postage, Telegrams & Telephones 18,66,50 19,92,80
(l) Borrowings from International Agencies 22,50,95 24,19,01
10 Repairs 39,31,80 50,83,41
(m) Borrowing against ST Deposit 50,23 24,71
(n) Commercial Paper 1527,90,18 879,02,24 11 Auditors’ Fees 31,84 30,92
(o) Certificate of Deposit 346,75,31 475,43,93
12 Legal Charges 1,16,54 72,28
(p) Repo borrowing 198,95,61 9,45
(q) Collateralised Borrowing and Lending Obligations 360,19,52 117,48,44 13 Miscellaneous Expenses 95,23,65 76,61,96
(r) Watershed Development Fund 65,95,58 68,83,42 14 Expenditure on Miscellaneous Assets 7,65,39 8,12,76
(s) Financial Inclusion Fund 84,88,14 142,77,35
(t) Financial Inclusion Fund – Digital 1,56,73 0 15 Expenditure on Study & Training 72,22,99 46,99,21
Indo German Watershed Development Programme – Andhra   Total 1934,33,36 1953,21,66
(u) 4,68 2,85
Pradesh

154 155
 []]€[?X‚@?Q_{+ƒ†+‡

Schedule 15 B – Expenditure on promotional activities

( in thousands)
Sr. No. Particulars 2017–18 2016–17

(i) Cooperative Development Fund 18,77,59 16,72,43 6I:

"%

(ii) Producers’ Organization Development Fund 2,55,94 4,10,43 6“©œ“ª“™Yœ[

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–[„”
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YZ[
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(iii) Rural Infrastructure Promotion Fund 2,49,48 1,58,42 ª–Z

[’„
„YZ
„œ—„—
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!"%
(iv) NFS Promotional Measures/ Activities 0 22

(v) Farm Sector Promotion Fund 20,88,28 21,19,64

(vi) Climate Change Fund 1,03,53 4,95

(vii) Gramya Vikas Nidhi 6,78,99 0

  Total 52,53,81 43,66,09 A. SIGNIFICANT ACCOUNTING POLICIES /&

  -
 *.)*

3.1 Income and expenditure are accounted on

1. Basis of Preparation: accrual basis, except the following, which are
Schedule 16 – Provisions accounted on cash basis:
The accounts are prepared on the historical cost
( in thousands) convention and comply with all material aspects i) Interest on non-performing assets
Sr. No Particulars 2017–18 2016–17 contained in the National Bank for Agriculture !      *
# 
and Rural Development Act, 1981 and Regulations (RBI) guidelines.
  Provisions for :    
thereof, applicable Accounting Standards (AS) ii) Income by way of penal interest charged
1 Standard Assets 184,50,00 173,00,00 due to delayed receipt of loan dues or
issued by the Institute of Chartered Accountants
2 (a) Non Performing Assets 1,33,93 –1,70,12 of India (ICAI) and regulatory norms prescribed 
†"
 "' 
#

by the Reserve Bank of India (RBI). Except iii) Service Charges on loans given out of
2 (b) Non Performing Assets – Staff 29,18 0
otherwise mentioned, the accounting policies various Funds.
3 Sacrifice in interest element of restructured Accounts 0 –3,25,42 ’ `Ÿ  
Ÿ"+{{{{"
have been consistently applied by the National
4 Other Assets / Receivable 0 –3,22 Bank for Agriculture and Rural Development (the accounting unit, under a single head of
  Total 186,13,11 16801,24 Bank / NABARD) and are consistent with those expenditure.
used in the previous year. 3.2 Discount on Bonds and Commercial Papers
issued are amortized over the tenure of Bonds
2. Use of Estimates:
Schedule 17 – Commitments and Contingent Liabilities and Commercial Papers. Issue expenses
%

#!"   "
#
‰
 
™


#
 "
¤
( in thousands) with the Generally Accepted Accounting Principles
as expenditure in the year of issue of Bonds.
As on As on (GAAP) requires the management to make
Sr. No. Particulars
31.03.2018 31.03.2017
3.3 Dividend on investments is accounted for,
     
   " 

Commitments on account of capital contracts remaining to when the right to receive the dividend is
1 83,99,67 111,88,93 amounts of assets and liabilities and disclosure of
be executed established.
"
      
#  !" 
  Sub Total “A” 83,99,67 111,88,93 3.4
statements and the results of the operations for
2 Contingent Liabilities    
i) Income from Venture Capital funds is
the reporting period. Although these estimates are
accounted on realization basis.
  Bank Guarantee 21,69,75 16,65,00 based on the management’s best knowledge, the
ii) Release of subsidy in which NABARD
"      "
   #
     
(i) Claims against the Bank not acknowledged as debt. 0 0 is acting as a pass through agency is
‹" "   "
¤   ‰
#
accounted for on payment basis subject
  Sub Total “B” 21,69,75 16,65,00 outcome of such results.
to availability of funds under the
  Total (A + B) 105,69,42 128,53,93 respective schemes.

156 157
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

3.5 Recovery in non-performing assets (NPA) is "

%
!”
""
 
 
   ‰  "  !   h) Treasury Bills, Commercial Papers and
appropriated in the following order: the year of acquisition. Easily portable ³­zž´ ‹"  '"  
 
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# 
     
i) penal interest electronic assets such as laptops, mobile "  !   
 "
   carrying cost.
ii) cost & charges phones, etc., are capitalized, if individual "  ! ³$‹´ i) Unquoted Shares are valued at breakup
iii) overdue interest and interest "

#  
+{{{{ "’    "  !  ­  value, if the latest Audited Accounts of
iv) Principal  
#' "
 + * "  to Maturity category are carried at the investee companies are available,
less, purchased independently are acquisition cost, wherever cost is
  +—Š  &
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4. Fixed Assets and Depreciation
"
%
!”
""
 equivalent to face value or less. If cost is guidelines.
a) Fixed assets are stated at cost
#’ "


 !Ÿ    more than the face value, the premium j) Brokerage, commission, etc. paid in
of acquisition, less accumulated
is charged over the estimated useful is amortized over the period remaining respect of investments including unlisted
depreciation and impairment losses, if
life of the assets ascertained by the to maturity. Provision for diminution, equities, at the time of acquisition, are
any. The cost of assets includes taxes,
management at the following rates on other than temporary, in the value of charged to revenue.
duties, freight and other incidental
Straight Line Method basis: investments in subsidiaries and joint k) Brokerage, paid on acquisition / disposal
expenses related to the acquisition and
    "
‰ ³­zž´   of equities traded on stock exchange is
installation of the respective assets.
made, wherever necessary. Provision capitalized.
Subsequent expenditure incurred on Type of Assets Depreciation Rate
for diminution/ amortization, in value l) Broken period interest paid/received on
existing asset is capitalized, only when Furniture and Fixtures 20% of such investments, is included under debt investments is treated as interest
 "    # ! #
  Computer & Software 33.33% Current Liabilities and Provisions. expenses/ income and is excluded for
existing assets beyond its previously Office Equipment 20% ’ %
!
 

#   cost/ sale consideration.
assessed level of performance.
Vehicles 20% "
¤  ³­zž´   "
¤ m) Transfer of a security between the
b) Land includes freehold and leasehold
%
!µ”
—" categories is accounted for, at lower
land.
g) Depreciation policy has been revised ’     ³$‹´  * of the acquisition cost/book value/
c) Premises include value of land, where
during the current year, accordingly to market, scrip-wise, at the rate, market value on the date of transfer and
segregated values are not readily
depreciation is charged from the month declared by Fixed Income Money depreciation, if any, on such transfer, is
available.
the asset is capitalized in the year of Market and Derivative Association fully provided for.
d) Depreciation policy on premises situated
purchase and till the month the asset of India (FIMMDA) and by Financial n) Amortization/Gain/Loss on Revaluation
on freehold land and leasehold land has
is sold in the year of sale. Hitherto, Benchmarks India Pvt. Ltd. Net of Government Securities is charged to
been revised during the current year
depreciation was charged for the full depreciation, if any, is provided for %
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and uniformly calculated on straight
year, irrespective of the date of purchase   "
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line basis over the expected lifetime
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 z followed for accounting for investments.
of 30 years. Hitherto, depreciation on
in the year of sale. book value of the individual scrip are not p) Investments in Venture Capital Funds
premises was calculated as under:
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i) Depreciation on premises situated
advances and is disclosed under Fixed #’     ³­$z´  * policy adopted by the respective Fund.
on freehold land is charged at 10%
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ii) Depreciation on leasehold land ’ "   "  !    
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computed and charged at 5% on  
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period of leasehold land, on straight- RBI.
b) Securities that are held principally for scrip is changed after revaluation.
line basis, whichever is higher. b) In case of restructuring/rescheduling
resale within 90 days from the date g) Investments in subsidiaries, joint
’ $Ÿ    "
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(except easily portable electronic assets present value of future principal and
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and the present value of future principal ’ z %

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and interest as per the revised agreement renewal of foreign exchange contracts scheme is funded by the Bank such deferred tax assets can be realized.
is provided for. "

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respect of loans granted out of funds are b. Provision for pension is made
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31 December 2011. The scheme
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of India; following accounting treatment is The undiscounted amount of short-term with/allocable to segments are
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are entitled for compensated
a) Assets and liabilities in foreign currency, to be paid in exchange for the services result. The expenses, which relate to
absences. All the eligible employees
 Ÿ"
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of the year and disclosed as a contra renders the service. Unallocable Expenditure”.



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valuations being carried out at each
Scheme in respect of all eligible and Liabilities include those that relate
balance sheet date. Actuarial gain or
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 employees who joined the Bank to the Bank as a whole and not allocable



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item). on or before 31 December 2011. to any segment.
Loss Account on accrual basis.
b) Income and Expenditure items are The scheme is managed by RBI.
12. Impairment of Assets
translated at the exchange rates Contribution is recognized on 10. Taxes on Income
a) As at each Balance Sheet date, the
prevailing on the date of the transaction. accrual basis. a) Tax on income for the current period is
carrying amount of assets is tested for
The Bank has introduced a New determined on the basis of taxable income
%&
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impairment so as to determine:
Pension Scheme (NPS) for all the and tax credits computed, in accordance
Contracts i) the provision for impairment loss, if

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a) Foreign Exchange Contracts are to any, required; or
the services of the Bank on or after 1961 and based on expected outcome of
hedge the repayment of foreign currency ii) the reversal, if any, required for
01 January 2012. The Bank has assessments/appeals.
borrowings. impairment loss recognized in the

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 b) Deferred tax is recognized, on timing
b) The foreign currency borrowings which previous periods.
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plan, as formulated by the Pension taxable income and accounting income
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Fund Regulatory and Development #
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Authority (PFRDA). Contribution to rates and laws that have been enacted
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a. Provision for gratuity is made c) Deferred tax assets relating to 13.1 Provisions are recognised for liabilities that
Gains / Loss on revaluation of Forward
based on actuarial valuation, unabsorbed depreciation/business can be measured only by using substantial
Exchange Contract Account. Premium/

#"!"  losses are recognised and carried degree of estimation if:
discount are accounted over the life of the
year based on the projected forward to the extent that there is virtual a) the Bank has a present obligation as a
contract.
unit credit method in respect "‰  ª" # Ÿ  result of a past event;

160 161
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Sr. No. Name of the Fund
expected to settle the obligation; and deferred by one year and the bank has 2017–18 2016–17
c) the amount of the obligation can be
 " !"
 #
    1 Watershed Development Fund 4% 6%
reliably estimated. applicability of the same to FIs. 2 KfW- NB IGWDP (Andhra Pradesh, Gujarat, Maharashtra) 4% 6%
13.2 Contingent liability is disclosed in the case The bank had set up a Steering Committee
3 KfW Accompanying Measures 4% 6%
of: headed by Deputy Managing Director to
4 National Adaptation Fund for Climate change 4% 6%
a) a possible obligation arising from past evaluate the changes in accounting system
events, when it is not probable that an and impact of implementation of Ind AS 5 Tribal Development Fund 4% 6%

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settle the obligation, of capital, taking into account the Basel III 7 Kfw NB- V Adivasi Development Programme- Gujarat 4% 6%
b) a present obligation when no reliable " œ `
  8 Cattle Development Fund (UP & Bihar) 6.57% 7.46%
estimate is possible, and by the bank to complete the implementation Multi Activity Approach For Poverty Alleviation (Sultanpur
9 and Rae Bareilly)
6.57% 7.46%
c) a possible obligation arising from past process as per the timelines framed by RBI /
  '  
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of resources is remote. Kfw NB- IX Adivasi Development Programme-
11 Maharashtra
6.57% 7.46%
13.3 Contingent assets are neither recognized, nor
disclosed. B. NOTES FORMING PART OF
3. Recoverable from Government of India /
13.4 Provisions, contingent liabilities and THE ACCOUNTS International Agencies (Refer Schedule-13 of
contingent assets are reviewed at each  "‹’"  ˆ<</"
Œˆ+_;
1. In terms of the agreement with Kreditanstalt
Balance Sheet date. crore) being debit balance of various funds.
$ ©# † • 

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Bank (KfW), accretion / income and
Cash and cash equivalents for the purposes of expenditure under UPNRM have been (Amount in  crore)
"  ™
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  "   * charged to the fund. The loans granted out Sr. No. Name of the Fund 31–03–2018 31–03–2017
cash in hand, demand deposits with banks
#   #   "  !  
 1 KfW- UPNRM – Accompanying Measures 2.00 1.84
and other short-term investments with an loans and disclosed under Schedule 11. 2 KfW- NB IGWDP (Rajasthan) 0.62 0.00
original maturity of three months or less. The borrowing related to the UPNRM are 3 KfW- Soil Project 3.72 11.47
15. Prior Period Income/Expenses "  !   

' #
 
 
4 KfW- NB IGWDP (Gujarat) 0.97 0.00
Items of Income/Expenditure which are agencies and disclosed under Schedule 7.
5 KfW UPNRM Fund 35.92 27.45
prior period in nature is disclosed separately    ‰  
# ˆƒ/ "
  
6 KfW UPNRM- Financial Contribution 0.00 0.53
only when the individual prior period income required towards NPA provision for loans
7 KfW UPNRM – Technical collaboration 0.12 0.00
/expense exceeds 0.5% of Gross Income. granted under Kfw UPNRM Scheme and
     " 
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Standards (Ind AS) Œ<{“ƒ "
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 to Watershed Development Fund, Tribal
In terms of the Press Release No. 11/10/2009
2.
CL-V dated 18 January 2016 issued by
fund.
to contributors in respect of Micro Finance Development Fund, Financial Inclusion Fund
Interest on unutilized balances has been
Development and Equity Fund (MFDEF). and PODF. Previous year, the amounts were
credited to the following funds as per the
the MCA, the bank would be required to  

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 credited to Watershed Development Fund,
respective agreements / as approved by the
  ‹ 
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management. The details of rate of interest
for accounting periods beginning from April Appropriation account. Inclusion Fund.
for respective funds are as under:
1, 2018, with comparatives for the periods 5. Pursuant to the directions of RBI, the 6. Pursuant to the agreement with Government
ending March 31, 2018 and thereafter. relative margin available to the Bank in of India, the relative margin in excess of
However, the implementation of Ind AS excess of 0.5 percent in respect of Rural 0.60%, if any, in respect of Long Term
Infrastructure Development Fund (RIDF) 
$


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deposits, Warehousing Infrastructure Fund Fluctuation Reserve Fund”, which will be
(WIF) deposits and Food Processing Fund, used during the period when the relative

162 163
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margin is less than 0.60%. During the year Provision for Deferred Tax on account of
# <ˆ{‡+ "
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being the excess margin earned has been the Income Tax Act, 1961, is not considered $ — ‹z&& #  z *  !  crore. This amount has been credited to the
transferred to the ‘LTIF Fluctuation Reserve necessary, as the Bank has decided not to an appeal against the above disallowance depreciation account, thereby, resulting in
Fund’ from Interest Received account. withdraw the said reserve. with CIT(A). During the year, the CIT(A) has " 
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7. Subvention received/receivable from 11. The tax liability of the Bank for the passed order in favour of the Bank. +{<;"

Government of India (GOI) under Seasonal    ± _{{_†{< 
 
 16. During the Assessment of the Income for 22. In the opinion of the Bank’s management,
Agricultural Operations (SAO) amounting to <ƒ<+/ "
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     ± _{+<†+ˆ  Ÿ  ‰ there is no impairment to assets to which
<+;{; "
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’  +_‡< Tax Department. The Bank has provided and
# <;_;ˆ "
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Livelihood Mission (NRLM), being the   !       

#  $ — ‹z&& #  z *  !  23. Pursuant to the directives of RBI, the
"'"

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   !"     Tribunal. with CIT(A). During the year, the CIT(A) has Agriculture and Rural Development Banks
" #
    !"  "  12. Income Tax Department had reopened the passed order in favour of the Bank. (SCARDBs) by way of subscription to the
and shown under accrued interest and assessment for the Assessment Year (AY) 17. During the Assessment of the Income for Special Development Debentures (SDDs)
disclosed under Schedule 13. _{{“†{ƒ± _{{ƒ†{‡ ± _{{‡†{;      ± _{+ˆ†+/  Ÿ  ‰ ™
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towards administration charges on providing [CIT(A)]. The Income Tax department $ — ‹z&& #  z *  !  ‹" †+{–
!"    
 " has preferred appeal against the order of an appeal against the above disallowance and Bonds’.
to StCBs, RRBs and to CCBs, Public Sector CIT(A) with ITAT, Mumbai. Pending appeal with CIT(A). During the year, the CIT(A) has b) Interest earned on the same is shown as
*  #
 !" %‰ "  with ITAT, the refund received from the IT passed order in favour of the Bank. a part of ‘Interest received on Loans and
Co-operative Societies (PACS) for Seasonal department is held in Income Tax Refund 18. During the Assessment of the Income for " ˜%
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Agricultural Operations and under NRLM Account.     ± _{+/†+“  Ÿ  ‰ treating them as ‘Deemed Advances’.
scheme. 13. During the Assessment of the Income for
# ˆ_‡+“ "
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9. The salaries and allowances of the employees     ± _{+{†++  Ÿ  ‰
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The review is due from 01 November 2017.
#     ""
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#  !"   
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 the RIDF/STCRC and others, which was with CIT(A). During the year, the CIT(A) has out of the disbursement extended to various
has been provided under the head Salary and struck down by CIT(A). The Income Tax passed order in favour of the Bank. ‹ •
   $ /“{“<
Allowances during the year. department has preferred appeal against the 19. During the Assessment of the Income for "
Œˆ;/{;"
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10. The Bank, during the year, in accordance CIT(A) order with ITAT, Mumbai. Pending     ± _{+“†+ƒ  Ÿ  ‰ projects. Pending receipt of the proposal
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# <ƒ_{{ "
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#     ""
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# Ÿ
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’ Refund Account. RIDF / STCRC funds. However, the Bank has 
="   
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The details of the deferred tax are as under: 14. During the Assessment of the Income for !   

' disbursement from the fund.
    ± _{++†+_  Ÿ  ‰ CIT(A). 25. In terms of Central Board of Direct Taxes,
(Amount in  crore)
# _;ˆ<+ "
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 20. Free hold land and Lease Land and Premises ž ‰
# $" 
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Sr. Deferred Tax Assets 31 March 31 March
#     ""
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 Œ+“{{ "
’  February 2016, NABARD was allowed
No. 2018 2017 $ — ‹z&& #  z *  !  
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   Ÿ # 
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1 Provision allowable 170.22 149.64 an appeal against the above disallowance for which conveyance is yet to be completed. under section10(15)(iv)(h) of the Income
on payment basis with CIT(A). During the year, the CIT(A) has 21. The depreciation policy for premises in lease zŸ " +;“+ 
 
 /{{{ "

2 Depreciation on 24.12 31.55 passed order in favour of the Bank. hold land and premises on free hold land has ""
 ‰ +/{{ "
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Fixed Assets
15. During the Assessment of the Income for been revised during the year. The change year tenure was mobilized through Private
Total 194.34 181.19     ± _{+_†+<  Ÿ  ‰ in the depreciation policy has resulted in % "</{{"
‰ +{

164 165
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

& 15 year tenure through public issue. The 28. Disclosure required under AS 15 (Amount in  crore)
tax free bonds are in the nature of secured, L  Q
*
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=  >)µ
Particulars 2017–18 2016–17 2015–16 2014–15 2013–14
redeemable and non-convertible bonds. _‡+ !!% 
Present value of defined benefits obligations
These bonds are secured against pari passu  `
‰   !    4496.91 3694.29 2911.93 2411.55 2071.33
as at the year end
charge on property situated in Mumbai and of the bank include Pension, Gratuity,
Fair value of plan assets as at the year end@ 4355.48 3276.21 2801.56 2351.61 2056.07

 !  "
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*  
# Leave Encashment and Post-retirement
NABARD. The interest charge to revenue ž"  !  '"  ! Liability recognized in the Balance sheet as
141.43 418.08 110.37 59.94 15.26
at the year end
pertaining to these bonds for the current year !    z    
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The details of the debenture Trustee is as actuarial valuation using the Projected
under: Unit Credit Method, which recognizes

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Axis House, Second Floor 
 
  
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‰ ! and Loss Account during the year: a. Reconciliation of opening and
Wadia International Centre entitlement and measures each unit "
  " 
# ! !
(Amount in  crore) obligations:
Pandurang Budhkar Marg  ‰
 ! 
 

Worli, Mumbai -400 025 28.1.1 Pension Particulars 2017–18 2016–17 (Amount in  crore)
Telephone: 022 24255215/5216 a. Reconciliation of opening and Current Service Cost 76.52 57.29
26. In terms of RBI Circular RBI/2015- "
  " 
# ! ! Particulars 2017–18 2016–17
Interest Cost 286.31 232.95
+“—+{ˆ
$$&<—{+{_{{—_{+/† obligations: Present value of defined
16 dated 01 July 2015 relating to Prudential Net Actuarial gain/loss 539.72 610.88 benefit obligation at the 487.52 303.02
(Amount in  crore)
Guidelines on Investment in Venture Capital Expected return on Plan beginning of year
$  

#  <<ƒ‡ "
 Œ</</ Particulars 2017–18 2016–17 Assets –239.87 –226.77 Current Service Cost 26.73 32.79
crore) made in the units of VCF was shifted Present value of defined 3694.29 2911.93 Expense recognized in the Interest Cost 37.78 24.24
benefit obligation at the statement of Profit and Loss 662.68 674.35 Actuarial gain/ loss 31.28 156.44
from HTM category, on completion of 3
beginning of year
years, to AFS category Benefits paid –43.06 –28.97
d. Actuarial assumptions:
27. Investments in Government securities Current Service Cost 76.52 57.29 Present value of defined
Particulars benefits obligations at the 540.25 487.52
include the following securities pledged with Interest Cost 286.31 232.95 2017–18 2016–17
year end
Clearing Corporation of India Limited as Actuarial gain/loss 592.77 610.88 Mortality Table (LIC) 2006–08 2006–08
collateral security for borrowings: (Ultimate) (Ultimate)
Benefits paid –152.98 –118.76 b. Amount recognized in Balance Sheet
(Amount in  crore) Discount rate (per annum) 7.40% 7.75%
as on 31 March 2018 and P.Y. from
Present value of defined 4496.91 3694.29
Salary growth (per 6.50% 6.50% _{+<†+ˆ
_{+“†+ƒ 
Particulars Face Value Book Value benefits obligations at
annum)
Pledged for Business 648.00 676.64 the year end
Withdrawal rate 1.00% 1.00%
Segment (Securities) (65.00) (63.51)
Pledged for Business 8856.00 8972.64 b. Amount recognised in the Balance
Segment (Collateralised (8751.68) (9000.53) (Amount in  crore)
Sheet as on 31 March 2018 and
Borrowing and Lending
Obligation) 
  ‰  #
 _{+<†+ˆ 

Particulars 2017–18 2016–17 2015–16 2014–15 2013–14
Pledged for Business 27.00 28.19 _{+“†+ƒ 
Segment (Securities) (3.00) (3.13) Present value of defined benefits
540.25 487.52 303.02 285.34 274.62
Default Fund obligations as at the year end
Pledged for Business 25.00 26.10 Fair value of plan assets as at the year end 510.28 313.46 301.51 303.01 288.49
Segment (Collateral (5.00) (4.63)
Borrowing and Lending Liability recognized in the Balance sheet
Obligation) – Default 29.97 174.06 1.51 –17.67 –13.87
as at the year end
Fund

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Loss Account during the year: a. Reconciliation of opening and and Loss Account during the year: *7
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(Amount in  crore) "

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4-

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(Amount in  crore)
obligations: 2018
Particulars 2017–18 2016–17
(Amount in  crore) Particulars 2017–18 2016–17
Current Service Cost 26.73 32.79 Current Service Cost 6.18 11.62 Encashment
Particulars 2017–18 2016–17 Particulars Pension Gratuity
Interest Cost 37.78 24.24 Interest Cost 23.67 21.23 of OL
Present value of defined Net Actuarial gain/loss 46.78 24.15 % of Plan % of Plan % of Plan
Net Actuarial gain/loss 44.57 156.44
benefit obligation at the 305.50 265.45 Assets Assets Assets
Expected return on Plan
Expected return on Plan beginning of year –27.02 –30.26 Central Govt.
–19.93 –34.61 Assets 22.04 – –
Assets Securities
Current Service Cost 6.19 11.62 Expense recognized in
Expense recognized in the State Govt.
89.14 178.86 the statement of Profit 49.62 26.74 26.04 – –
statement of Profit and Loss Interest Cost 23.68 21.23 Securities
and Loss
Actuarial gain/loss 40.92 24.15 Insurer
d. Actuarial assumptions:
d. Actuarial assumptions: Managed – 100.00 100.00
Benefits paid –20.23 –16.95 Funds
Particulars 2017–18 2016–17 Present value of defined Particulars 2017–18 2016–17 Others 51.92 – –
benefits obligations at the 356.06 305.50
2006–08 2006–08 Mortality Table 2006–08 2006–08 Total 100.00 100.00 100.00
Mortality Table (LIC) year end
(Ultimate) (Ultimate) (LIC) (Ultimate) (Ultimate)
Discount rate (per Discount rate (per
annum)
7.40% 7.75% b. Amount recognized in the Balance 7.40% 7.75%
annum) %&
: > 
*)V-)*
 
Sheet as on 31 March 2018 and P.Y.
Salary growth (per Salary growth (per
7.00% 7.00% #
_{+<†+ˆ
_{+“†+ƒ  7.00% 7.00% (a) The bank contributes its share to
annum) annum)
Provident Fund with RBI. As per the
Withdrawal rate 1.00% 1.00% Withdrawal rate 1.00% 1.00%
   "

    !
contribution plan. During the year
%&"&5
*)U ) + )
 
=  >)  *   "
 ;_‡ˆ
 z    
# ! ! "
Œ+“;/"
’'
(Amount in  crore) obligation in respect of post-retirement (b) The employees’ recruited on or after
Particulars 2017–18 2016–17 2015–16 2014–15 2013–14 " ! ""
%
! 01 January 2012 are covered under
Present value of defined ”
 ""
   ˆ+‡ "
 Œ+{{_ New Pension Scheme, which is a
benefits obligations as at the 356.06 305.50 265.45 239.69 225.88 crore). ! "

   
year end 28.1.5 The estimates of rate of escalation in the year the bank has contributed
Funds earmarked by the salary considered in actuarial valuation,
Bank *
249.76 258.25 263.37 257.61 219.28 __<"
Œ{;“"
’
 
take into account NABARD related scheme.
Liability recognized in the #"
  ™
 
‰ 



Balance sheet as at the year 115.30 47.25 2.08 –17.92 6.60 29 Capital
end and other relevant factors including 29.1 Pattern of Capital contribution as on the
supply and demand in the employment date of the Balance Sheet:
* Represents the amount invested with Insurance companies towards the liability for Leave Encashment. market. The ratio of shareholding of Government
28.1.6 The aforesaid liabilities include of India and RBI in the paid up capital
liabilities of employees deputed to as on 31 March 2017 was at 99.60%:
subsidiaries. 0.40%. During the current year, balance
28.1.7 Amortisation of Post-retirement shareholding of RBI has been transferred
!   to Government of India, as such, as on 31
The entire liability towards post- March 2018, the entire share capital is
! "
%
! subscribed by Government of India. The
and Loss account and are not amortised. details are given below:

168 169
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

( crore)
Sr. No. Particulars 2017–18 2016–17
Contributor 31 March 2018 31 March 2017
Percentage of the shareholding of the Government of
(x) 100.00 99.60
Reserve Bank of India 0.00 0.00% 20.00 0.40% India in the AIFI
Government of India 5,000.00 100.00% 4,980.00 99.60% (xi) Amount of equity capital raised 0.00 0.00
Total 5,000.00 100.00% 5,000.00 100.00%
(xii) Amount of Additional Tier 1 capital raised; of which 0.00 0.00

(a) Perpetual Non-Cumulative Preference Shares

0.00 0.00
(PNCPS):

‰

#<‡‡{"
 T&
)
 ²-E (b) Perpetual Debt Instruments (PDI) 0.00 0.00
Œ+ˆ{{ "
’    " #
 29.2.1 Capital adequacy ratio of the Bank as
(xiii) Amount of Tier 2 capital raised; of which 0.00 0.00
Government of India towards Share Capital on 31 March 2018 was 18.85% (17.71%) as
and the same has been held as Advance against a minimum of 9% as stipulated by (a) Debt capital instruments: 0.00 0.00
towards Capital a/c pending enhancement RBI.
29.2.2 In accordance with RBI Instructions, (b) Perpetual Cumulative Preference Shares (PCPS) 0.00 0.00
of Authorized Capital. The advance towards
   !" #
 
    & (c) Redeemable Non-Cumulative
 "  

  //‡{ "
  
 0.00 0.00
† ”
 z 
  Œ& ”z’ $ Preference Shares (RNCPS)
31 March 2018. Pursuant to increase of


+ˆˆ;+"
Ÿ" #
 (d) Redeemable Cumulative Preference Shares

¤& 
#
<{{{{ 0.00 0.00
the purpose of computing the CRAR. (RCPS)
"
  ¤ 
!"
 
 +ˆ+{
29.2.3 The details of various parameters of
dated 10 April 2018, the above advance Capital to Risk weighted Assets Ratio is given
30. Provisions on Standard Assets
would be transferred to Share Capital below: (Amount in  crore)
""
‰_{+‡†+;
Particulars 2017–18 2016–17

Provisions towards Standard Assets 184.50 173.00

(Amount in  crore)
31. Floating Provisions
(Amount in  crore)
Sr. No. Particulars 2017–18 2016–17
Sr. No. Particulars 2017–18 2016–17
(i) Common Equity 36511.78 29939.49
(a) Opening balance in floating provision account
14.44 14.44
(ii) Additional Tier 1 capital 0.00 0.00 (counter cyclical provisioning buffer)
(b) The quantum of floating provisions made during the
(iii) Total Tier 1 capital (i+ii) 36511.78 29939.49 0.00 0.00
accounting year
(c) Amount of drawdown made during the accounting
(iv) Tier 2 capital 2480.43 2069.92 0.00 0.00
year

(v) Total Capital ( Tier 1+Tier 2) 38992.21 32009.41 (d) Closing balance in the floating provision account 14.44 14.44

(vi) Total Risk Weighted Assets (RWAs) 206869.25 180718.41

Common Equity Ratio (Common Equity as a

(vii) 17.65 16.57
percentage of RWAs)

(viii) Tier 1 Ratio (Tier 1 capital as a percentage of RWAs) 17.65 16.57

(ix) Capital to Risk Weighted Assets Ratio (CRAR) 18.85 17.71

170 171
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

32.  Ä ‰ "!"

 
  Sr. No. Particulars 31.03.2018 31.03.2017
32.1 Non-Performing Advances
(b) Provision made during the year 0.00 0.00
(Amount in  crore)
(c) Write off / write back of excess provision 0.00 0.00
Sr. No. Particulars 31.03.2018 31.03.2017 (d) Closing balance 16.00 16.00
(i) Net NPA to Net Advances (%) 0.00 0.00
  
# +“{{ "
  ®  
(ii) Movement of NPAs (Gross)  
Commodity Exchange Limited (UCX) is
(a) Opening Balance 163.23 190.51 treated as an Non Performing Investment as
(b) Additions during the year 9.15 3.28 the company was barred from operating as
(c) Reductions during the year 7.93 30.56 a Commodity Exchange following Forward
Markets Commission (FMC) directive in
(d) Closing Balance 164.45 163.23
July 2014. As per the RBI guidelines the
(iii) Movement of Net NPAs    "
‰  +—Š
(a) Opening Balance 0.00 23.33
32.3 Non-Performing Assets (34.1+34.2)
(b) Additions during the year 4.70 1.81
(Amount in  crore)
(c) Reductions during the year 4.70 25.14
Sr. No. Particulars 31.03.2018 31.03.2017
(d) Closing Balance 0.00 0.00
(i) Net NPA to Net Assets (Advances +
Movement of provisions for NPAs (excluding Investments) (%) 0.00 0.00
(iv)  
provision on standard assets)
(ii) Movement of NPAs (Gross Advances + Gross
(a) Opening balance 163.23 167.17 Investments)  

(b) Provision made during the year 9.15 10.06 (a) Opening Balance 179.23 206.51
(c) Write off / write back of excess provision 7.93 14.00 (b) Additions during the year 9.15 3.28
(c) Reductions during the year 7.93 30.56
(d) Closing balance 164.45 163.23
(d) Closing Balance 164.45 179.23
32.2 Non-Performing Investments (iii) Movement of Net NPAs  
(Amount in  crore) (a) Opening Balance 0.00 23.33
(b) Additions during the year 4.70 1.81
Sr. No. Particulars 31.03.2018 31.03.2017
(c) Reductions during the year 4.70 25.14
(i) Net NPI to Net Investments (%) 0.00 0.00
(d) Closing Balance 0.00 0.00
(ii) Movement of NPIs (Gross)
(iv) Movement of provisions for NPAs (excluding
(a) Opening Balance 16.00 16.00 provision on standard assets)  

(b) Additions during the year 0.00 0.00 (a) Opening balance 179.23 183.17
(c) Reductions during the year 0.00 0.00 (b) Provision made during the year 9.15 10.06
(d) Closing Balance 16.00 16.00 (c) Write off / write back of excess provision 7.93 14.00
(iii) Movement of Net NPIs (d) Closing balance 180.45 179.23
(a) Opening Balance 0.00 0.00
32.4 Particulars of Accounts Restructured
(b) Additions during the year 0.00 0.00
(c) Reductions during the year 0.00 0.00 Three loans were restructured during
(d) Closing Balance 0.00 0.00 "!" ‰

#
(iv) Movement of provisions for NPIs <_/"
Œ++;“"
’ "
¤
(a) Opening balance 16.00 16.00     
# "!"
 ""
 
restructured in earlier period.

172 173
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

(Amount in  Crore)

  Type of restructuring Under CDR Mechanism Under r SME Debt Restructuring Mechanism Others Total

Asset Classification Std SS Dful Loss Total Std SS Dful Loss Total Std SS Dful Loss Total Std SS Dful Loss Total

Details

1 Restructured Accounts No. of Borrowers                     1 1 1 0 3 1 1 1 0 3

as on 01 April 2017
Amount outstanding                     0.74 0.03 15.68 0.00 16.45 0.74 0.03 15.68 0.00 16.45

Provision thereof                     0.03 0.01 15.68 0.00 15.72 0.03 0.01 15.68 0.00 15.72

2 Fresh restructures during No. of Borrowers                     2 2 1 0 3 1 1 1 0 3

the year
Amount outstanding                     1.20 4.90 0.28 0.00 6.38 1.20 4.90 0.28 0.00 6.38

Provision thereof                     0.07 4.90 0.28 0.00 5.25 0.07 4.90 0.28 0.00 5.25

3 Upgradation to No. of Borrowers                                        

restructured standard
category during 2016–17
Amount outstanding                                        

Provision thereof                                        

4 Restructured Standard No. of Borrowers                    

advances which
cease to attract higher
provisioning and/ or
additional risk weight Amount outstanding                    
at the end of the FY
and hence need not be
shown as restructured
standard advances at the Provision thereof                    
beginning of the next FY

5 Downgradation of No. of Borrowers                    

restructured accounts
during the FY Amount outstanding                    

Provision thereof                    

6 Write offs of Restructured No. of Borrowers                    

accounts during the FY
Amount outstanding                    

Provision thereof                                        

7 Restructured accounts as No. of Borrowers                     3 2 3 0 8 3 2 3 0 8

on 31 March 2018
Amount outstanding                     1.60 4.90 14.86 0.00 21.36 1.60 4.90 14.86 0.00 21.36

Provision thereof                     0.37 4.90 14.86 0.00 20.13 0.37 4.90 14.86 0.00 20.13

174 175
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

32.5 Movement of Non-Performing Advances 32.8 Depreciation and provisions on investments

(Amount in  crore) (Amount in  crore)

Sr. No. Particulars 2017–18 2016–17 Sr. No. Particulars 2017–18 2016–17
(1) Investments
(i) Gross NPAs as on 01 April 2017 163.23 190.51 (i) Gross Investments
(ii) Additions during the year 9.15 3.28 In India 28392.65 22774.22
Sub total (A) 172.38 193.79 Outside India – –
Less : (ii) Provision for Depreciation
(i) Upgradations 0.00 0.61
In India 164.01 138.43
Recoveries (excluding recoveries made from
(ii) 7.44 15.95 Outside India – –
upgraded accounts)
(iii) Technical / Prudential Write offs 0.00 0.00 (iii) Net Investments
(iv) Write offs other than those under (iii) above 0.49 14.00 In India 28228.64 22635.79
Sub-total (B) 7.93 30.56 Outside India – –
Gross NPAs as on 31 March 2018 (A-B) 164.45 163.23 (2) Movement of provisions held towards depreciation on
investments

<_“©Š
 "
  (i) Opening balance 138.43 16.00
(Amount in  crore) Add: Provisions made during the year 148.01 122.43
(ii)
(iii) Appropriation, if any, from Investment Fluctuation Reserve 0.00 0.00
Particulars 2017–18 2016–17 Account during the year

Opening balance of Technical / Prudential written off accounts as 0.00 0.00 (iv) Less: Write off / write back of excess provisions during 122.43 0.00
at April 1 the year
Add : Technical / Prudential write offs during the year 0.00 0.00 (v) Less: Transfer, if any, to Investment Fluctuation Reserve 0.00 0.00
Account
Sub total (A) 0.00 0.00
(vi) Closing balance 164.01 138.43
Less : Recoveries made from previously technical / prudential 0.00 0.00
written off accounts during the year (B) 32.9 Provisions and Contingencies
Closing balance as at March 31 (A–B) 0.00 0.00 (Amount in  crore)


 z"" 
 'Š
 

#
Š#

 '"
 

* 
#"  Provisions and Contingencies shown under the head
Sr. No. 2017–18 2016–17
'Š
Œ# ‰
 ‰’­ª"   Expenditure in Profit and Loss Account
1 Provisions for depreciation on Investment 148.01  122.43
32.7 Overseas Assets, NPAs and Revenue
2 Provision towards NPA 1.63 –1.70
(Amount in  crore)
3 Provision made towards Income tax 1391.85 1171.33
Particulars 2017–18 2016–17 4 Other Provision and Contingencies (provision for other
0.00 –0.03
assets receivable)
Total Assets 0.00 0.00
Total NPAs 0.00 0.00
Total Revenue 0.00 0.00
32.10 Provisioning Coverage Ratio (PCR):
PCR [ratio of provisioning (including
"
 "‰" "  
 
 ’ 

gross non-performing assets] as at close
of business for the current year stood at
108.24% (108.85%).

176 177
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

32.11 Loan under Scheme for Sustainable 33.2 Disclosure of Issuer Composition for
Structuring of Stressed Assets (S4A): Investment in Debt Securities
 ‰_{+“†+ƒ

 
(Amount in  crore)
for stressed loan account (HCC) to the
Ÿ
# ˆ“;+ "
 '  "
  Extent of
Extent of ‘Below Extent of Extent of
under Scheme for Sustainable Sr. Issuer Amount
Private Investment ‘Unrated’ ‘Unlisted’
Structuring of Stressed Assets. The No.
Placement Grade’ Securities Securities
details of resolution plan is given below: Securities
(1) (2) (3) (4) (5) (6) (7)
(i) PSUs 456.56 456.56 – – 61.00
(224.46) (224.46) (113.91)
Particulars Amount ( in crore)
(ii) FIs 982.40 982.40 – – 966.27
Part – A
(48.00) (48.00) (48.00)
(i) Loan outstanding 24.63
(iii) Banks 38.15 38.15 – – 0.00
Part – B (37.79) (37.79) (0.00)
Equity Shares 8.06 (iv) Private Corporates 2085.95 2085.95 – – 27.25
Optionally Convertible Debentures 14.22 (1212.78) (1212.78) (157.85)
Total 46.91 (v) Subsidiaries / Joint 180.15 180.15 – – 180.15
Ventures (180.15) (180.15) (180.15)
(vi) Others – – – – –
(vii) Provision held – – – – –
The net outstanding of the above loan account towards depreciation

<<“{"
 
<+ž"_{+‡z 3743.21 3743.21 – – 1234.67
account is continued as NPA and 100% provision Total (1703.18) (1703.18) (499.91)
held against the outstanding balance as per S4A
    

# ƒƒ+ "
 "
under S4A arrangement has been kept in Debt
Servicing Reserve account.
33.3 Sale and Transfers to / from HTM
/5&
: ) 
*7
4
 )
-' W

//&
 )+ )
*)7* *
*))-)*

Category sold
operations During the year, securities amounting to 34.1 Details of Financial Assets sold to
//&"

 *
)*

_‡ˆ;“ƒ "
 '   # #
 ­zž Securitisation / Reconstruction Company
to AFS category and securities amounting for Asset Reconstruction
(Amount in  crore) A. Details of Sales : NIL

 _/{{ "
 '   # #
 $‹
Minimum Maximum Daily Average to HTM category. The market value of B. Details of Book Value of Investments
Outstanding as on
Particulars outstanding outstanding outstanding
31 March 2018 Investments held under Held to Maturity in Security Receipts : NIL
during the year during the year during the year
(HTM) category as on 31 March 2018 was
Securities sold under repo /+{ƒ/{ "
    

*  
# 34.2 Details of Non Performing Financial
i. Government securities 0.99(4.94) 2010.73(295.40) 48.61(98.44) 2010.73(295.40) /<;“ˆˆ "
 z Ÿ" 
# 

*   Assets Purchased / Sold

ii. Corporate debt securities 0.00(0.00) 0.00(0.00) 0.00(0.00) 0.00(0.00)

* ' _‡‡;ˆ"
Œ_ˆ+{
crore) for which no provision was made as    
#
#
!" 
Securities purchased under reverse repo assets purchased : NIL
per RBI guidelines.
i. Government securities 0.95(10.00) 328.85(10.00) 43.65(10.00) 0.0(0.00)    
#
#
!" 
assets sold : NIL
ii. Corporate debt securities 18.33(10.00) 18.33(10.00) 6.11(10.00) 0.00(0.00)

178 179
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

34.3 Operating Results 35.2 Exposure to Country risk : NIL

</< %  `Ÿ
 ”  † ‹ 
Sr. No. Particulars 2017–18 2016–17 Borrower Limit (SGL) / Group Borrower
(i) Interest income as a percentage to working funds 6.53 6.84 Limit (GBL) exceeded by the AIFI
(ii) Non interest income as a percentage to working funds 0.05 0.06
35.3.1 The number and amount of
exposures in excess of the prudential
(iii) Operating Profit as a percentage to working funds 1.22 1.23
exposure limits during the year: NIL
(iv) Return on Assets (%) 0.80 0.82
35.3.2 Credit exposure as percentage to
(v) Net Profit per employee ( crore) 0.74 0.65
Capital Funds and as percentage to
Total Assets
/9
 )
* ))*
 (Amount in  crore)
35.1. Capital market exposure
2017–18 2016–17
Category Credit Exposure as % to Credit Exposure as % to
(Amount in  crore)
Capital Funds Total Assets Capital Funds Total Assets
Sr. No. Particulars 2017–18 2016–17 I Largest Single Borrower 57.04 5.47 76.56 7.03
1 Direct investment in equity shares, convertible bonds, convertible 3548.85 1525.27 II Largest Borrower Group Not Applicable Not Applicable
debentures and units of equity oriented mutual funds the corpus of III Twenty Largest Single Borrowers
which is not exclusively invested in corporate debt; for the year 459.96 44.10 569.38 48.83
2 Advances against shares / bonds / debentures or other securities or 0.00 0.00 IV Twenty Largest Borrower
on clean basis to individuals for investment in shares (including IPOs Not Applicable Not Applicable
Groups
/ ESOPs), convertible bonds, convertible debentures, and units of
equity oriented mutual funds;
</<_&Ÿ

!  
3 Advances for any other purposes where shares or convertible bonds 0.00 0.00
or convertible debentures or units of equity oriented mutual funds industrial sectors as percentage to
are taken as primary security; total loan assets: Not Applicable
4 Advances for any other purposes to the extent secured by the 0.00 0.00 35.3.2 Factoring exposures : Not
collateral security of shares or convertible bonds or convertible Applicable
debentures or units of equity oriented mutual funds i.e. where the 35.3.2 Exposure where the FI had
primary security other than shares / convertible bonds / convertible
debentures / units of equity oriented mutual funds does not fully exceeded that Prudential Exposure
cover the advances Limits during the year : NIL
5 Secured and unsecured advances to stockbrokers and guarantees 0.00 0.00
35.4 Concentration of borrowings / lines of
issued on behalf of stockbrokers and market makers; credit, credit exposures and NPAs

6 Loans sanctioned to corporates against the security of shares 0.00 0.00 (a) Concentration of borrowings and
/ bonds / debentures or other securities or on clean basis for lines of credit
meeting promoter’s contribution to the equity of new companies in
anticipation of raising resources; (Amount in  crore)
7 Bridge loans to companies against expected equity flows / issues; 0.00 0.00
Sr. No. Particulars 2017–18 2016–17
8 Underwriting commitments taken up by the AIFI in respect of primary 0.00 0.00
(i) Total borrowings from twenty largest lenders 225787.25 168502.98
issue of shares or convertible bonds or convertible debentures or
units of equity oriented mutual funds; (ii) Percentage of borrowings from twenty largest lenders to total
borrowings 67.80 86.67
9 Financing to stockbrokers for margin trading; 0.00 0.00
10 All exposures to Venture Capital Funds (both registered and 180.15 167.91
unregistered)

Total Exposure to Capital Markets 3729.00 1693.18

180 181
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

(b) Concentration of credit exposures 


#  "
"   ‰†
end exchange rate stood at ‡<ˆ<;
(Amount in  crore)
"
 Œ“{<<ƒ "
’    
#
Sr. No. Particulars 2017–18 2016–17 outstanding principal liability in the
(i) Total exposures to twenty largest borrowers 179347.95 170052.61 books of account stood at contracted
(ii) Percentage of exposures to twenty largest borrowers to Total  ‡++‡‡"
Œ“‡</“"
’
50.54 55.10
Advances of the AIFI
The quantitative disclosure in this regard
is as under:
(Amount in  crore)
(c) Sector-wise concentration of
Sr. Particular Current Year Previous Year
exposures and NPAs No
Currency Interest rate Currency Interest rate
The sector wise concentration of Derivatives derivatives Derivatives derivatives
exposure and NPAs is given below:
(i) Derivatives (Notional Principal Amount)
(Amount in  crore)
a) For hedging 871.68 – 603.37 –
No.  Particulars Outstanding Gross % of Gross Outstanding Gross % of Gross
Total NPAs NPAs to Total Total NPAs NPAs to Total b) For trading – – – –
Advances Advances in Advances Advances in (ii) Marked to Market Positions
that sector that sector
a) Asset (+) 28.17 – – –
FY 2017–18 FY 2016–17 b) Liability (–) – – 80.18 –
Agricultural sector
(iii) Credit Exposure [2] 51.83 – 18.77 –
I. including allied 354831.81 145.07 0.04 308771.13 139.93 1.26
agricultural activities (iv) Likely impact of one percentage
1 Central Government 0.00 0.00 0.00 0.00 0.00 0.00 change in interest rate (100*PV01)

2 Central PSUs 84.11 0.00 0.00 5751.04 0.00 0.00 a) on hedging derivatives 9.43 – 2.31 –
3 State Governments 121866.60 0.00 0.00 104369.90 0.00 0.00 b) on trading derivatives – – – –
4 State PSUs 7869.90 0.00 0.00 4978.00 0.00 0.00 (v) Maximum and Minimum of
Scheduled Commercial 100*PV01 observed during the year
5 54840.60 0.00 0.00 41774.69 0.00 0.00
Banks
a) on hedging – – – –
6 Regional Rural Banks 45569.54 0.00 0.00 40183.06 0.00 0.00
b) on trading – – – –
7 Co-operative banks 71360.02 0.00 0.00 77781.19 0.00 0.00
Private sector (excluding
8 32776.01 145.07 0.44 11139.83 140.00 1.26 /#&
 )) 
*7
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4



banks)
Others SCRADB/LDB/
9 20465.04 0.00 0.00 22793.41 0.00 0.00
NBFC-MFI/ ADFC
II. Others 243.78 19.38 7.95 234.82 23.30 9.92
1 Construction Sector 19.02 19.02 100.00 23.23 23.23 100.00
2 Staff Loans 224.76 0.36 0.16 211.59 0.07 0.03
  Total (I+II) 355075.59 164.45 0.05 309005.94 163.23 0.05

hedging of foreign currency borrowings

36. Derivatives
the same is shown at contracted value as
(i) The Bank does not trade in derivatives.
per the Swap agreement. The bank does
However, it has hedged its liability
not have any open exposure in foreign
towards borrowings from KfW Germany
currency.
to the extent of 103.49 million Euro
(ii) The value of outstanding principal
(87.13 million Euro). Consequent upon

182 183
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

38.  )
V )E
. + )
ˆ/ %

 " %
! List of Related Parties:
(Amount in  crore) Loss account are as follows: a) Companies where entity has control:
(Amount in  crore)
Over 3 Over 6 Over 1 year Over 3 years
1 to 15 to 29 days to 3 Total Sr. No. Companies
Particulars month & up Month & up & up to 3 & up to 5 Over 5 years Sr.
14 days 28 days month Particulars 2017–18 2016–17 1. Nabard Financial Services Ltd.
to 6 month to 1 year years years No.
2. NABSAMRUDDHI Finance Limited
Deposits 6.83 1792.79 21.48 22094.60 54523.84 57038.05 51567.73 27404.65 214449.97 1. Income 0.00 0.00 3 NABKISAN Finance Ltd.
(0.00) (8182.96) (250.00) (36753.42) (32755.79) (39998.44) (43709.85) (41631.22) (203281.68) Revenue
2. 0.00 0.00 4. Nabard Consultancy Services Pvt. Ltd.
Advances 504.00 42.66 2901.74 55235.95 85358.26 98760.15 60302.17 51598.41 354703.33 Expenditure
(1628.35) (1391.92) (2561.45) (44151.56) (81524.76) (73034.23) (59705.93) (43364.18) (307362.38) Total 0.00 0.00
b) Key Management Personnel:
Investments 3719.93 1845.99 27699.29 3350.00 830.23 1908.71 529.12 6278.88 46162.13
(7770.89) (7811.79) (4044.29) (8660.38) (2046.88) (1106.26) (501.05) (3524.42) (35465.95) 5;&
*-).
6)
"%
$
 ) 

Name of the party Designation

Borrowings 4719.05 84.68 31939.70 19545.88 12860.47 15835.00 0.00 32777.00 117761.80 )E
: *- 

Dr. Harsh Kumar Bhanwala Chairman

(8376.80) (4040.40) (13170.84) (5061.82) (16114.13) (21204.05) (2417.09) (5000.00) (75385.13) As the Bank is state controlled enterprise
Foreign '
#‹Š+‡³ %‰ Deputy Managing
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Shri Harishkumar Rasiklal Dave
Currency Director
(0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) Transactions”, the details of the transactions
assets Deputy Managing
Foreign with other state controlled enterprises are Shri R Amalorpavanathan
0.00 0.00 0.00 31.90 31.90 322.33 77.16 348.59 811.88 Director
Currency not given.
(0.00) (0.00) (0.00) (23.35) (8.28) (187.87) (77.16) (386.91) (683.56)
liabilities
c) Transactions with Key Management
Personnel:
(Amount in  crore)
/T&
:,
:*,
7*+
   

Sr.
Particulars 2017–18 2016–17
No.
Amount of
40. Business Ratios (a) No. of complaints pending at 0 2
Name of the Party Nature of Relationship Nature of Transaction transaction Outstanding
the beginning of the year
during the year
(b) No. of complaints received 143 75
during the year Dr. Harsh Kumar Bhanwala Key Management Remuneration 0.52 (0.60) 0.00
Particulars 2017–18 2016–17
(c) No. of complaints redressed 136 77 Personnel–Chairman including perquisites
Return on Equity (%) 8.58 9.08 during the year Shri Harishkumar Rasiklal Dave Key Management Remuneration 0.40 (0.43) 0.00
Return on Assets (%) 0.80 0.82 (d) No. of complaints pending at 7 0 Personnel–Deputy including perquisites
the end of the year Managing Director
Net Profit Per Employee
0.74 0.65 ˆ< Š " ‹ ‹%°  ‹

 Œ'" Shri R Amalorpavanathan Key Management Remuneration 0.45 (0.57) 0.00
( crore)
Personnel–Deputy including perquisites
are required to be consolidated as per
Managing Director
41. : *-
*7
  ) 
+* 
VE
accounting norms)
RBI There are no SPVs sponsored by NABARD
During the year RBI has imposed penalty of 44. The movement in Contingent Liability as No amounts, in respect of the related parties
“<ˆ{{—Š#
 

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   ‹•” Liabilities and Contingent Assets” is as during the year. Related party relationships
account at the time of settlement at CCIL on under: !‰
25.07.2017. (Amount in  crore)
relied upon by the auditors.
42. Disclosure of Complaints
Particulars 2017–18 2016–17
(a) Customer Complaints
Opening Balance 16.65 0.00
Addition during the year 21.69 16.65
Deletion during the year 16.65 0.00
Closing Balance 21.69 16.65

184 185
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

47. Information on Business Segment *  "   !"    (c) Since the operations of the Bank are
(a) = 7
=.*- loans disbursed by them to the "
! 
 
 ‰    

The Bank has recognised Primary ultimate borrowers. reportable secondary segment.
segments as under: iii)  -E: Includes investment of 48. Figures in brackets pertain to previous year.
i) Direct Finance: Includes Loans funds in treasury bills, short-term
given to state governments and other deposits, government securities, ˆ; %
 ‰˜ ! 
—
agencies for rural infrastructure etc. rearranged wherever necessary.

 "
Š!"
   iv) Unallocated: Includes income
loans given to voluntary agencies/ #
 
  


†
 
¤
  miscellaneous receipts and Schedules referred to above form an integral part of accounts
for developmental activities and expenditure incurred for the As per our attached report of even date
other direct loans to Co-operative developmental role of the bank and Vyas & Vyas
Banks etc. common administrative expenses. Chartered Accountants
ii)  > : Includes Loans LVQ
7*+)*
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=- 
FRN . 000590C
and Advances given to State 6 .+ )
Governments, Commercial Banks,
SCARDBs, StCBs Regional Rural O P Vyas
R K Deb Barman
Partner
Chief General Manager
(Amount in  crore) M No. 014081
Accounts Department
Shillong
Date : 25 May 2018
Business
Date : 25 May 2018
Treasury Refinance Direct Lending Other Business Total
Segments

Particulars 2017–18 2016–17 2017–18 2016–17 2017–18 2016–17 2017–18 2016–17 2017–18 2016–17 Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash
Revenue 2987.81 3026.69 12240.71 11317.47 9118.16 7906.14 44.01 28.45 24390.69 22278.75 Chairman Deputy Managing Director Director Director

Result 529.59 1391.24 3514.19 3085.85 2313.13 1371.08 –1509.94 –1505.01 4846.96 4343.16
Unallocated
                493.17 526.33
Expenses
Operating
                4353.79 3816.83
Profit
Income Taxes                 1391.85 1171.33
Extraordinary
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
profit / loss
Net Profit                 2961.94 2645.50
Other
                   
Information
Segment
47809.01 33708.94 190887.18 181797.45 165470.35 129008.42 2475.07 3745.46 406641.61 348260.27
Assets
Segment
45487.70 35365.39 191389.94 162534.44 124638.23 112201.19 0.00 0.00 361515.86 310101.01
Liabilities
Unallocated
                45125.75 38159.26
Liabilities
Total
                406641.61 348260.27
Liabilities

186 187
 []]€[[ZZ@€]Q~_{+ƒ†+‡

Particulars 2017–2018 2016–2017

Net cash used / generated from investing activities (B) –2732,44,99 1693,79,87
(c) Cash flow from financing activities
Grants / contributions received –441,15,07 –104,95,20
6I
4J Proceeds of Bonds 23483,61,73 11414,01,05
Increase / (Decrease) in Borrowings 9625,41,49 14342,77,40
Increase / (Decrease) in Deposits 20035,15,45 4628,48,24
Increase in Share capital 3880,00,00 1400,00,00
Net cash raised from financing activities (C) 56583,03,60 31680,31,49
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT Net increase in cash and cash equivalent (A)+(B)+(C ) –2245,41,00 794,22,26
Cash flow for the year ended 31 March 2018 Cash and Cash equivalent at the beginning of the year 4115,09,69 3320,87,43
Cash and cash equivalent at the end of the year 1869,68,69 4115,09,69
( in thousands)

Particulars 2017–2018 2016–2017 1. Cash and cash equivalent at the end of the year includes : 2017–2018 2016–2017
(a) Cash flow from Operating activities Cash in hand 0 1
Net Profit as per Profit and Loss a/c before tax 4353,79,51 3816,83,46 Balance with Reserve Bank of India 187,31,46 2229,83,39
Adjustment for: Balances with other Banks in India 17,28,99 527,91,15
Depreciation 16,82,25 27,29,97 Remittances in Transit 460,84,72 8,29,39
Provisions and Amortisations 0 –3,22 Collateralised Borrowing and Lending Obligations 1204,23,52 1349,05,75
Provision for Non Performing Assets 1,63,11 –1,70,12 Total 1869,68,69 4115,09,69
Provision for Standard Assets 184,50,00 173,00,00
Provision for sacrifice in interest element of Restructured Loan 0 –3,25,42 Schedules referred to above form an integral part of accounts
Profit / Loss on sale of Fixed Assets –2104 21,47
As per our attached report
Interest credited to various Funds (including addition/ adjustment made to
232,95,66 275,41,40 of even date
Interest Differential Fund)
Vyas & Vyas
Income from Investment (including Discount Income) –2983,03,07 –3022,42,39
Chartered Accountants
Operating profit before changes in operating assets 1806,46,42 1265,35,15 FRN . 000590C
Adjustment for changes in working capital :
(Increase) / Decrease in Current Assets –8829,71,73 7014,21,33
Increase / (Decrease) in Current Liabilities –1347,40,12 3271,12,48 O P Vyas
R K Deb Barman
Increase in Loans and Advances (Including Housing Loan & Other Partner
–46271,14,30 –43325,81,69 Chief General Manager
Advances to Staff M No. 014081
Accounts Department
Cash generated from operating activities –54,641,79,73 –31772,12,73 Shillong
Date : 25 May 2018
Income Tax paid – Net of refund –1454,19,88 –807,76,37 Date : 25 May 2018
Net cash flow from operating activities (A) –56095,99,61 –32579,89,10
(b) Cash flow from Investing activities Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash
Income from Investment (including Discount Income) 2983,03,07 3020,57,37 Chairman Deputy Managing Director Director Director
Purchase of Fixed Asset –103,53,23 –71,06,40
Sale of Fixed Assets 6,48,66 5,32,75
Increase / Decrease in Investment –5618,43,49 –1261,03,85

188 189
  
  

   

Annual Accounts 2017-18

Consolidated Balance Sheet

*>)
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of NABARD
?
Subsidiaries
L=6
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 INDEPENDENT AUDITORS’ REPORT

To, accounting principles generally accepted in

The Board of Directors of
National Bank for Agriculture
Development
REPORT ON THE CONSOLIDATED
FINANCIAL STATEMENTS
We have audited the accompanying consolidated
India. The respective management of the Group
and Rural are responsible for maintenance of adequate
accounting records in accordance with the
provisions of the Act for safeguarding the assets
of the Group and for preventing and detecting
frauds and other irregularities; the selection
and application of appropriate accounting
policies; making judgments and estimates that
are reasonable and prudent; and the design,
!" 


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implementation and maintenance of adequate

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its subsidiaries (the holding bank and subsidiaries
completeness of the accounting records, relevant

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to the preparation and presentation of the
comprises the Consolidated Balance Sheet as at
!"   #'
March 31, 2018 and the Consolidated Statement
and are free from material misstatement, whether

# %
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due to fraud or error, which have been used for
Cash Flow Statement for the year then ended,
the purpose of preparation of the consolidated
 ‰
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!"    ‰  
# 
and other explanatory information (hereinafter
holding bank, as aforesaid.
# 
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statements”).
AUDITOR’S RESPONSIBILITY
MANAGEMENT’S RESPONSIBILITY Our responsibility is to express an opinion on
FOR THE CONSOLIDATED FINANCIAL  "

!"    

our audit. We conducted our audit in accordance
STATEMENTS
with the Standards on Auditing issued by the
Holding Bank management is responsible for Institute of Chartered Accountants of India. Those
 

#   "

 !"  Standards require that we comply with ethical
statements that give a true and fair view of the requirements and plan and perform the audit to
"

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 "

 obtain reasonable assurance about whether the
!"  #
"  "

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An audit involves performing procedures to obtain

193
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audit evidence about the amounts and disclosures 3. in the case of the Consolidated Cash Flow  " ‹ %
!  ”
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  "

 !"    z ‹
#" ™
' 
#•
#
 Cash Flow Statement comply with the applicable
procedures selected depend on the auditor’s the year ended on that date. accounting standards.
judgement, including the assessment of the risks
of material misstatement of the consolidated For Vyas & Vyas
!"    '  
 #
 OTHER MATTERS Chartered Accountants
error. In making those risk assessments, the (Firm Registration No 000590C)

 "
     !"  "

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   !"    —
relevant to the holding bank’s preparation and !"  #


# #
    
#  

#  "

 !"  '
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#
statements that give a true and fair view in order Rs.2186.77 crores as at 31st March, 2018, total O.P.Vyas
to design audit procedures that are appropriate  
# <{ƒˆ+"
 " ™
' Partner
in the circumstances but not for the purpose amounting to Rs.20.55 crores for the year ended (Membership No. 014081)
of expressing an opinion whether the holding on that date, as considered in the consolidated
* œ !" "

 !"    z "

 !"  Place: Shillong
‰ 
 !"  
   "   statements also include the Group’s share of net Date: 25 May 2018

" 
# ""

 
!Œ# Ÿ’
#  <‡{; "
  #
  ‰
also includes evaluating the appropriateness of ended 31st March, 2018, as considered in the
accounting policies used and the reasonableness "

!"   z !" 
of the accounting estimates made by management,   — !"  #

  
as well as evaluating the overall presentation of audited by other auditors whose reports have
"

!"    been furnished to us by the Management and our
We believe that the audit evidence obtained by


"

!"   
us and audit evidence obtained by the other in so far as it relates to the amounts and disclosures
auditors in terms of their report referred to in included in respect of these subsidiaries, is based
 ž   
'   ª" solely on the reports of the other auditors.
and appropriate to provide a basis for our audit 


  "

 !" 



"

!"    statements, and our report on Other Legal
and Regulatory Requirements below, is not

!   "
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OPINION
respect to our reliance on the work done and the
In our opinion and to the best of our information 
 
# 
 
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and according to the explanations given to  —!" #

"!‰
   "

 !"     management.
information required and true and fair view
in conformity with the accounting principles
generally accepted in India: REPORT ON OTHER LEGAL AND
REGULATORY REQUIREMENTS
1. in the case of the Consolidated Balance Sheet,
We report that the Consolidated Financial

# 
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Statements have been prepared by holding bank in
31, 2018;
accordance with the requirements of Accounting
2. in the case of the Consolidated Statement of
‹  Œ‹’ _+ ³&

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!”

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Statements”. In our opinion, the consolidated
the year ended on that date; and

194 195
 []]€[[ZZ@€]Q~_{+ƒ†+‡

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT

Consolidated Balance sheet as on 31 March 2018
( in Thousands)

6::
=
6I Sr. No. PROPERTY AND ASSETS Schedule As on 31.03.2018 As on 31.03.2017

1 Cash and Bank Balances 9 18898,32,56 13158,84,65

2 Investments 10 30805,28,48 26270,21,25
3 Advances 11 352359,73,57 305224,38,36
4 Fixed Assets 12 486,25,00 404,10,04

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT 5 Other Assets 13 4446,05,60 3552,37,41
Consolidated Balance sheet as on 31 March 2018 TOTAL   406995,65,21 348609,91,71

( in Thousands) Forward Foreign Exchange Contracts

834,38,70 603,37,41
(Hedging) as per contra
Sr. No. FUNDS AND LIABILITIES Schedule As on 31.03.2018 As on 31.03.2017 Commitment and Contingent Liabilities 17

1 (i) Capital   5000,00,00 5000,00,00 Significant Accounting Policies and

18
Notes on Accounts
  (Under Section 4 of the NABARD Act, 1981)  

  ii) Advance towards Capital   5580,00,00 1700,00,00 Schedules referred to above form an integral part of account.
2 Reserve Fund and Other Reserves 1 27915,93,78 24920,64,82 As per our attached report of even date
Vyas & Vyas
3 National Rural Credit Funds 2 16082,00,00 16078,00,00 Chartered Accountants
FRN . 000590C
4 Gifts, Grants, Donations and Benefactions 3 5456,12,02 4943,94,59

5 Government Schemes 4 1423,33,19 2145,70,01

O P Vyas
R K Deb Barman
6 Minority Interest 1A 121,25,06 98,19,17 Partner
Chief General Manager
M No. 014081
7 Deposits 5 214449,97,42 194414,81,97 Accounts Department
Shillong
Date : 25 May 2018
8 Bonds and Debentures 6 74020,15,49 50536,53,76 Date : 25 May 2018

9 Borrowings 7 44568,75,87 34989,49,17

Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash
10 Current Liabilities and Provisions 8 12378,12,38 13782,58,22
Chairman Deputy Managing Director Director Director
  TOTAL   406995,65,21 348609,91,71

Forward Foreign Exchange Contracts

834,38,70 603,37,41
(Hedging) as per contra

196 197
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
Consolidated Profit and Loss account for the year ended 31 March 2018 Consolidated Profit and Loss Account for the year ended 31 March 2018
( in Thousands) ( in thousands)

Sr. No. Appropriations/Withdrawals 2017–18 2016–17

Sr. No. INCOME Schedule 2017–18 2016–17
1 Profit for the year brought down 3005,78,19 2680,49,89
1 Interest Received on Loans and Advances   21354,70,20 19153,74,64
Add: Withdrawals from various funds against
2 229,76,39 183,46,53
2 Income from Investment operations / Deposits   2982,85,21 3021,23,72 expenditure debited to Profit & Loss Account
3 Total Profit Available for Appropriation 3235,54,58 2863,96,42
3 Other Income   258,74,88 259,13,51
  Less : Transferred to
  TOTAL (A)   24596,30,29 22434,11,87
1 Special Reserve u/s 36(I)(viii) of the Income Tax Act 1961 700,00,00 650,00,00
2 National Rural Credit (Long Term Operations) Fund 1,00,00 1,00,00
Sr. No. EXPENDITURE Schedule 2017–18 2016–17 3 National Rural Credit (Stabilisation) Fund 1,00,00 1,00,00
1 Interest and Financial Charges 14 17848,55,92 16268,66,82 4 Co-operative Development Fund 18,77,59 10,30,23

2 Establishment and other expenses 15 A 2026,96,80 2027,10,77 5 Research & Development Fund 29,18,47 16,16,28
6 Investment Fluctuation Reserve 374,01,07 95,43,39
3 Expenditure on Promotional Activities 15 B 52,53,81 43,66,09
7 Producers’ Organisation Development Fund 2,55,94 61,09,81
4 Provisions 16 211,18,35 179,35,26
8 Rural Infrastructure Promotion Fund 6,27,28 –
5 Depreciation   18,36,84 28,61,99 9 Farm Sector Promotion Fund 20,88,29 21,19,64
  TOTAL (B)   20157,61,72 18547,40,93 10 Revolving Fund Assistance – LWE 10,50
6 Profit before Income Tax (A–B)   4438,68,57 3886,70,94 11 Gramya Vikas Nidhi 26,78,99 20,00,00
12 Climate Change Fund 6,03,53 5,04,95
  Prior period items
13 Reserve Fund 2048,92,92 1982,72,11
7 Provision for Income Tax   1432,07,94 1215,95,60
  Total 3235,54,58 2863,96,42
8 Deferred Tax Asset Adjustment   (11,90,72) (18,83,07)

9 Profit after Tax   3018,51,35 2689,58,41

 #‹" +‡#
‹!"""
%
" 
 
""
 
10 Provision for Dividend and DDT of Subsidiaries   – 3781
As per our attached report of even date
11 Profit after Tax and Dividend   3018,51,35 2689,20,60 Vyas & Vyas
12 Minority Interest  12,73,16 8,70,71 Chartered Accountants
FRN . 000590C
13 Profit available for Appropriation 3005,78,19 2680,49,89

O P Vyas
R K Deb Barman
Partner
Chief General Manager
M No. 014081
Accounts Department
Shillong
Date : 25 May 2018
Date : 25 May 2018

Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash

Chairman Deputy Managing Director Director Director

198 199
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

SCHEDULE TO CONSOLIDATED BALANCE SHEET Consolidated Schedule 2 – National Rural Credit Funds
Consolidated Schedule 1 – Reserve Fund and Other Reserves
( in thousands)
( in thousands)
Transferred
Opening Balance Contribution Balance as on
Sr. Particulars Opening Additions/ Transferred Transferred Balance as on Sr. No. Particulars from P&L
as on 01.04.2017 by RBI 31.03.2018
No. Balance as on Adjustments from P&L to P&L 31.03.2018 Appropriation
01.04.2017 during the Appropriation Appropriation National Rural Credit (Long
year 1 14489,00,00 1,00,00 1,00,00 14491,00,00
Term Operations) Fund
1 Reserve Fund 16487,05,66 –7,74,64 2048,04,19 – 18527,35,21 National Rural Credit
2 1589,00,00 1,00,00 1,00,00 1591,00,00
(Stabilisation) Fund

2 Research and 52,43,41 –3,38 29,18,47 28,93,47 52,65,03   Total 16078,00,00 2,00,00 2,00,00 16082,00,00
Development Fund
  Previous year 16074,00,00 2,00,00 2,00,00 16078,00,00
3 Capital Reserve 85,93,54 – – – 85,93,54
4 Investment Fluctuation 924,00,00 – 374,01,07 148,01,07 1150,00,00
Reserve
5 Co–operative Development 60,00,00 – 18,77,59 18,77,59 60,00,00
Consolidated Schedule 3 – Gifts Grants Donations and Benefactions
Fund
( in thousands)
6 Special Reserves Created 7085,00,00 – 700,00,00 – 7785,00,00
& Maintained u/s 36(1)(viii) Opening Grants received Interest Exp./Disb./
of Income Tax Act 1961 Sr. Balance as on
Particulars Balance as on / adjusted credited to Adjust. during
No 31.03.2018
7 Producers’ Organizations 100,00,00 – 2,55,94 2,55,94 100,00,00 01.04.2017 during the year the fund the year
Development Fund
A. Grants from International Agencies        
8 Rural Infrastructure 16,22,21 – 6,27,27 2,49,48 20,00,00
Promotion Fund KfW – NABARD V Fund for
1 1,17,74 2,94,57 1,06 3,02,42 1,10,95
Adivasi Programme
9 Farm Sector Promotion 60,00,00 – 20,88,29 20,88,29 60,00,00
Fund KfW NB UPNRM –
2 0 2,00,24 0 2,00,24 0
Accompanying Measures
10 Gramya Vikas Nidhi 40,00,00 – 26,78,99 6,78,99 60,00,00
KfW NB UPNRM – Financial
3 0 15,30 0 57 14,73
11 Climate Change Fund 10,00,00 – 6,03,53 1,03,53 15,00,00 Contribution
  Total 24920,64,82 –7,78,02 3232,55,34 229,48,36 27915,93,78 4 KfW UPNRM Fund 0 8,66,75 0 8,66,75 0
  Previous year 22242,79,01 2,10,08 2861,96,42 182,00,53 24920,64,82 Indo German Watershed
5 Development Programme – 1,17,05 0 4,68 0 1,21,73
Andhra Pradesh
Indo German Watershed
Consolidated Schedule 1A – Minority Interest 6 Development Programme – 2,99,75 67,82 6,23 3,73,80 0
Gujarat
( in thousands) Indo German Watershed
7 Development Programme – 2,11,06 3,15,34 4,83 5,31,23 0
Sr. No. Particulars Opening Balance as Addition during Adjustments during Closing balance as Rajasthan
on 01.04.2017 the year the year on 31.03.2018
GIZ UPNRM Technical
8 38,33 0 0 38,33 0
1 Share capital 68,33,67 9,44,00 0 77,77,67 Collaboration
Climate Change – (AFB) –
2 Reserves and Surplus 29,85,50 12,73,16 88,73 43,47,40 9 7,56,91 6,92,19 0 7,25,93 7,23,17
Project Formulation Grant
  Total 98,19,17 22,17,16 88,73 121,25,06 National Adaptation Fund for
10 166,34,12 115,36,00 6,46,39 74,66,16 213,50,35
Climate Change
11 GIZ Soil Project 58,80 76,63 0 1,18,87 16,56
12 KfW Soil Project 0 10,71,69 0 10,71,69 0

200 201
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Opening Grants received Interest Exp./Disb./ Consolidated Schedule 4 – Government Schemes

Sr. Balance as on
Particulars Balance as on / adjusted credited to Adjust. during
No 31.03.2018 ( in thousands)
01.04.2017 during the year the fund the year

B. Other Funds           Additions/

Opening Interest Expenditure/
Sr. Adjustments Balance as on
Watershed Development Particulars Balance as on Credited Disbursements
1 1210,48,81 60,10,28 65,95,58 95,01,49 1241,53,18 No. during the 31.03.2018
Fund (i) 01.04.2017 to the fund from the fund
year
Interest Differential Fund –
2 244,21,11 20,04,89 0 21,91,99 242,34,01 A Government Subsidy Schemes        
Forex Risk
Interest Differential Fund – Capital Investment Subsidy for
3 10,00 0 0 0 10,00 1 55,47 0 0 0 55,47
TAWA Cold Storage Projects – NHB
4 Adivasi Development Fund 5,77,47 0 0 0 5,77,47 Capital Subsidy for Cold
2 8,40 0 0 0 8,40
5 Tribal Development Fund (ii) 1016,56,45 227,36,15 73,76,67 195,16,30 1122,52,97 Storage TM North East

6 Financial Inclusion Fund (iii) 2186,49,15 376,62,00 84,88,14 423,79,92 2224,19,38 Credit Linked Capital Subsidy
3 for Technology Upgradation of 19,73 0 0 19,73 0
Financial Inclusion Fund – SSIs
7 0 213,78,00 1,56,73 1,31,50 214,03,23
Digital
On-farm Water Management for
8 PODF–ID (iv) 0 105,18,00 0 36,40,07 68,77,93 4 7,17 0 0 0 7,17
Crop Production
National Bank – Swiss Bihar Ground Water Irrigation
9 61,87,13 86,10 0 0 62,73,23 5 77,91,88 99,96 0 0 78,91,84
Development Coop. Project Scheme (BIGWIS)
RPF & RIF – Off-Farm Sector Cattle Development Programme
10 31,39,99 3,87,78 0 12,50,63 22,77,14 6 2,50 0 16 0 2,66
Promotion Fund – Uttar Pradesh
Centre for Professional Cattle Development Programme
11 Excellence in Co-operatives 2,18,43 0 14,36 0 2,32,79 7 5,94 0 39 0 6,33
– Bihar
– (C-PEC)
National Project on Organic
LTIF Interest Fluctuation 8 1,56,43 0 0 1,40,32 16,11
12 2,52,29 23,10,91 0 0 25,63,20 Farming
Reserve Fund
Integrated Watershed
  Total 4943,94,59 1182,30,64 232,94,67 903,07,89 5456,12,02 9 Development Programme – 4,29,45 0 0 0 4,29,45
Rashtriya Sam Vikas Yojana
  Previous year 4895,17,29 945,25,97 277,72,51 1174,21,19 4943,94,59
Dairy and Poultry Venture
10 5,38,74 2,31,98 0 0 7,70,72
Capital Fund
NABARD is acting as a banker/ custodian/ trustee on behalf of GOI/ RBI/Other entities and is holding the above funds pending 11 Poultry Venture Capital Fund 1,92,37 1,22,06 0 0 3,14,43
disbursement/ utilization in terms of respective schemes on their behalf to the extent of contribution made by them and accrued
interest on unutilized balances wherever applicable. ISAM – Agricultural Marketing
12 201,53,85 378,08,00 0 496,74,67 82,87,18
Infrastructure
Œ’"  _{‡{"
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ISAM – Grant Recd for
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Ÿ 13 1,23 0 0 0 1,23
Promotional Expenditure
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14 66,47,95 128,08,31 0 90,39,74 104,16,52
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Centrally Sponsored Scheme
15 1,66,72 0 0 0 1,66,72
for establishing Poultry Estate
Multi Activity Approach for
16 Poverty Alleviation – Sultanpur 5,35 0 35 0 5,70
Uttar Pradesh
Multi Activity Approach for
17 Poverty Alleviation – BAIF – Rae 1,43 0 9 0 1,52
Bareli Uttar Pradesh
Dairy Entrepreneurship
18 153,08,56 203,02,00 0 277,53,04 78,57,52
Development Scheme
19 CSS for Solar Mission 81 1,02 0 0 1,83
20 CSS – JNNSM – Solar Lighting 9,67,68 0 0 1,89,73 7,77,95

202 203
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Additions/ Consolidated Schedule 5 – Deposits

Opening Interest Expenditure/
Sr. Adjustments Balance as on
Particulars Balance as on Credited Disbursements ( in thousands)
No. during the 31.03.2018
01.04.2017 to the fund from the fund
year
CSS – Solar Photovoltaic Water Sr. No. Particulars As on 31.03.2018 As on 31.03.2017
21 54,18,68 0 0 24,25,83 29,92,85
Pumping
1 From Central Government – –
Capital Subsidy Scheme – Agri
22 2,39,60 13,56,47 0 13,56,52 2,39,55 2 From State Governments – –
Clinic Agri Business Centres
CSS MNRE Lighting Scheme 3 From Others    
23 85,10 0 0 36,03 49,07
2016
a) Tea/Rubber/Coffee Deposits 164,46,64 219,13,63
Artificial Recharge of
24 4,60,75 0 0 0 4,60,75 b) Commercial Banks (Deposits Under RIDF) 116313,92,78 105502,50,34
Groundwater in Hard Rock Area
c) Short Term Cooperative Rural Credit Fund 45000,00,00 45008,70,00
B Other Government Schemes          
d) Fund for food processing units 300,00,00 150,00,00
Agriculture Debt Waiver and e) Long Term Rural Credit Fund 38000,58,00 30000,58,00
1 Debt Relief Scheme (ADWDR) 284,67,61 47,84 0 0 285,15,45
2008 f) Warehouse Infrastructure Fund 4671,00,00 3531,00,00
Women’s Self Help Groups g) STRRB Deposits 10000,00,00 10002,90,00
2 94,89,15 0 0 20,71,76 74,17,39
[SHGs] Development Fund
  Total 214449,97,42 194414,81,97
3 PRODUCE FUND 136,30,79 0 0 43,47,15 92,83,64
Revival of 23 unlicensed
4 111,22,00 0 0 0 111,22,00
DCCBs
Interest Subvention (Sugar Consolidated Schedule 6 – Bonds and Debentures
5 18 0 0 0 18
Term Loan)
Scheme for providing ( in thousands)
Financial Assistance to Sugar
6 65,27 0 0 65,27 0
Undertakings – 2007 (SEFASU Sr. No. Particulars As on 31.03.2018 As on 31.03.2017
– 2007)
7 Kutch Drought Proofing Project 21,64 0 0 0 21,64 1 SLR Bonds – –

Revival Package for Long Term 2 Non Priority Sector Bonds 38055,00,00 31479,00,00
8 Cooperative Credit Structure 20,00,00 0 0 0 20,00,00
3 Capital Gains Bonds 1,29,40 1,29,40
(LTCCS)
Revival Reform and Restructure 4 Bhavishya Nirman Bonds 3186,86,09 4970,24,36
9 6,15,80 2,91,34 0 2,84,75 6,22,39
of Handloom Sector 5 NABARD Rural Bond – –
Comprehensive Handloom
10 20,99 38,57 0 38,33 21,23 6 Tax Free Bonds 5000,00,00 5000,00,00
Package
Interest Subvention (SAO NRLM 7 LTIF GOI Fully Serviced Bonds 5292,00,00 2187,00,00
11 904,70,82 7335,53,99 0 7814,56,51 425,68,30
NWR) $
8 LTIF Bonds 15155,00,00 6899,00,00
  Total 2145,70,04 8066,61,54 99 8788,99,38 1423,33,19
9 PMAY-GOI Fully Serviced Bonds 7330,00,00 –
  Previous year 1425,03,66 1565,49,48 1,06 844,84,16 2145,70,04
NABARD is acting as a banker/ custodian/ trustee on behalf of GOI/ RBI/Other entities and is holding the above funds pending   Total 74020,15,49 50536,53,76
disbursement/ utilization in terms of respective schemes on their behalf to the extent of contribution made by them and accrued
interest on unutilized balances wherever applicable.
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204 205
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Consolidated Schedule 7 – Borrowings Sr. No. Particulars As on 31.03.2018 As on 31.03.2017

( in thousands) d) Provision for Depreciation in Value of Investments 34,14,25 16,00,00
e) PROVISION FOR OTHER ASSETS AND RECEIVABLES 8,79,41 10,03,35
Sr. No. Particulars As on 31.03.2018 As on 31.03.2017
  (A) In India     f) PROVISION FOR INCOME TAX(Net of Advance Tax) 580,22,40 636,13,15

1 Central Government – – g) Prov for Depre.In GOI Investments 146,44,37 122,43,39

2 Reserve Bank of India – – 13 Other Liabilities 52,86 –
3 From Others     14 Provision for Medical Benefit-Retired Employees 131,05,89 126,88,23
(a) In India     15 COMMITMENT CHARGES – UPNRM BORROWINGS – 9,63
(i) Certificate of Deposits 4001,11,56 7478,85,53 16 Debt Servicing Reserve Account 7,70,54 –
(ii) Commercial Paper 32040,36,49 16193,37,51   Total 12378,12,38 13782,58,22
Borrowing under Collateralised Borrowing Lending
(iii) 2457,06,58 7318,66,34
Obligation
(iv) Terms Money Borrowings 3228,58,32 2192,73,31
(v) Borrowing against Short Term Deposits – 798,92,03 Consolidated Schedule 9 – Cash and Bank Balances
(b) Outside India    
( in thousands)
(i) From International Agencies 811,88,35 683,56,02
4 Borrowings under JNN Solar Mission 2,81,20 14,55,68 Sr. No. Particulars As on 31.03.2018 As on 31.03.2017

5 Repo a/c – Borrowings 2010,73,48 295,40,36 1 Cash in hand 29 36

6 Borrowings from Commercial Banks FIs 16,19,89 13,42,39 2 Balances with:    

  Total 44568,75,87 34989,49,17 a) Reserve Bank of India 18731,46 2229,83,39

b) Others    
Out of the above borrowings under CBLO are secured against Government Securities including Treasury Bills   (1) In India    
  (i) Others Bank in India    
  a) On Current Account 56,28,80 546,36,06
Consolidated Schedule 8 – Current Liabilities and Provisions   b) Deposit with Banks 16989,63,77 9025,29,70
( in thousands)   (ii) Remittance in Transit 460,84,72 8,29,39
  (iii) Collateralised Borrowing and Lending Obligations 1204,23,52 1349,05,75
Sr. No. Particulars As on 31.03.2018 As on 31.03.2017   (iv) Reverse Repo a/c – Investment – –
1 Interest / Discount Accrued 8870,23,61 9780,88,46   (2) Outside India –  
2 Sundry Creditors 403,25,18 861,58,62   Total 18898,32,56 13158,84,65
3 Subsidy Reserve (Co-finance Cold Storage CSAMI) 112,66,00 56,85,18
4 Provision for Gratuity 30,14,30 174,21,99
5 Provision for Pension 143,14,05 420,26,10
6 Provision for Encashment of Ordinary Leave 357,54,23 306,60,10 Consolidated Schedule 10 – Investments
7 Unclaimed Interest on Bonds 1,69,60 1,68,23
( in thousands)
8 Unclaimed Interest on Term Deposits 11,52 1,74
9 Term Deposits Matured but not claimed 4,78 9,08 Sr. No. Particulars As on 31.03.2018 As on 31.03.2017
10 Bonds Matured but Not Claimed 71,93,02 4,53,49 1 Government Securities    
11 Bond Premium 10,52,60 1,16,50   a) Securities of Central Government & State Govt. 13029,00,98 8944,24,48
12 Provisions and Contingencies       [Face Value 124811410000 (86767500000)]    
a) Provisions for Standard Assets 1426,82,11 1240,32,96   [Market Value 12674430000 (90183699746 )]    
b) Provisions-Countercyclical Provisioning Buffer 14,44,89 14,44,89   b) Treasury Bills 2560,16,63 2421,35,28
c) Provisions – Amortisation of G Sec – HTM 26,66,77 8,33,13   [Face Value 27154340000 (24387690000)]    

206 207
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Sr. No. Particulars As on 31.03.2018 As on 31.03.2017 Sr. No. Particulars As on 31.03.2018 As on 31.03.2017
  [Market Value 25601662705 (24213528106 )]     (viii) Bharat Heavy Electricals Ltd. 1,99,13 1,99,13
2 Other Approved Securities       [80000 shares (80000) of 2 each]    
  Bill Rediscounting Scheme 0 197,71,14 (ix) Maruti Suzuki India Ltd. 1,78,84 1,78,84
  [Face Value 0 (2000000000)]       [7000 shares (7000 ) of 5 each]    
3 Equity Shares in :     (x) Tata Consultancy Services Ltd. 0 2,39,88
(a) Agricultural Finance Corporation Ltd. 1,00,00 1,00,00   [0 shares (10000 ) of 1 each]    
  [1000 (1000) – Equity shares of 10000 each]     (xi) Larsen & Toubro Infotech Limited 0 11,35
(b) Small Industries Development Bank of India 966,27,55 48,00,00   [0 ( 1599) Shares of 2 each]    
  [53192203 (16000000) – Equity shares of 10 each]     (xii) Hindustan Construction Co. Ltd 8,06,30 8,06,30
(c) Agriculture Insurance Company of India Ltd. 60,00,00 60,00,00   [ 2308978 (2308978) Shares of 10 each]    
  [60000000 (60000000) – Equity shares of 10 each]     (xiii) Bandhan Bank 61,51 0
(d) Multi Commodity Exchange of India Ltd. 30,22 30,22   [ 16403 (0) Shares of 10 each]    
  [377758 (1070096) – Equity shares of 10 each]     4 Debentures and Bonds    
(e) National Commodity and Derivatives Exchange Ltd. 16,87,50 16,87,50 (i) Special Dev Debentures of SCARDBs 2592,77,98 3676,14,23
  [5625000 (5625000) – Equity shares of 10 each]     (ii) Non Convertible Debentures 2426,54,78 1307,30,80
(f) Universal Commodity Exchange Ltd [UCX] 16,00,00 16,00,00 5 Others    
  [16000000 (16000000) Shares of 10 each]     (a) Mutual Fund 0 4001,09,28
(g) Indian Financial Technology and Allied Services [Equity] 0 49 (b) Commercial Paper 3423,54,30 2766,91,10
  [ 0 (4900) Shares of 10 each]       [Face Value 36500000000 (29500000000)]    
(h) CSC e-Governance Services India Ltd Equity 9,74,60 9,74,60 (c) Certificate of Deposit 5206,20,83 2311,32,08
  [ 55000 (55000) Shares of 1000 each]       [Face Value 55250000000 (23500000000 )]    
(i) Agriculture Skill Council of India 40 40 (d) SEAF – Indian Agri- Business 9,73,06 9,50,08
  [ 4000 (4000) Shares of 10 each]     (e) APIDC – Venturies Life Fund III 14,38,07 14,38,07
(j) National E-Governance Services India Ltd [Equity] 1,50,00 1,50,00 (f) BVF (Bio-Tech Venture Fund) – APIDC-V Investment 4,77,62 4,77,62
  [ 1500000 (15000000) Shares of 10 each]     (g) Omnivore India Capital Trust 22,07,16 19,72,25
(k) National e-Repository Ltd. 10,53,00 0 (h) India Opportunities 13,30,09 10,80,62
  [ 10530000 (0) Shares of 10 each]     (i) IvyCap Ventures Fund 18,48,87 19,60,00
(l) Other Equity Investments     (j) Tata Capital Innovation Fund 55,82,63 55,11,31
(i) Coal India Ltd. 0 1,65,56 (k) TVS Shriram Growth Fund IB 15,52,11 19,82,59
  [0 (43389) – Equity shares of 10 each]     (l) Golden Gujarat Growth Fund 8,00,00 7,04,00
(ii) MOIL Ltd. 0 25,20 (m) India Nivesh Growth and Special Situations Fund 3,75,00 2,75,00
  [0 (6719) -Equity shares of 10 each]     (n) Ivycap Ventures Fund – II 2,00,00 1,50,00
(iii) State Bank of India 37,54,25 37,54,25 (o) India Advantage Fund S4 2,90,00 2,90,00
  [2398880 (2398880 share of 1 each ) ]     (p) IFMR FIMPACT Long Term Credit Fund 10,00,00 0
(iv) Punjab National Bank 0 23,87 (q) Investment Earmarked towards EOL 249,76,14 258,25,14
  [0 (12000) shares of 2 each]       Total 30805,28,48 26270,21,25
(v) Larsen & Toubro Limited 0 17,32 All the above investments are in India
  [0 shares (1000) of 2 each]    
(vi) Oil and Natural Gas Corporation Ltd. 4,28,93 4,28,93
  [187200 shares (187200) of 5 each]    
(vii) Steel Authority of India Ltd. 0 6,02,34
  [0 shares (858626) of 10 each]    

208 209
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Consolidated Schedule 11 – Advances Consolidated Schedule 12 – Fixed Assets

( in thousands) ( in thousands)

Sr. No. Particulars As on 31.03.2018 As on 31.03.2017 Sr. No. Particulars As on 31.03.2018 As on 31.03.2017
1 LAND : Freehold & Leasehold    
1 Refinance Loans    
  Opening Balance 181,97,92 174,33,32
(a) Production & Marketing Credit 66128,18,38 73682,58,42   Additions/adjustments during the year 3,86,19 7,64,60
(b) Medium Term – Conversion Loans 632,76,66 1065,00,22   Sub-Total 185,84,11 181,97,92
  Less: Cost of assets sold/written off – –
(c) Other Investment Credit :    
  Closing Balance (at cost) 185,84,11 181,97,92
(i) Medium Term and Long Term Project Loans 118478,11,21 100536,85,00   Less: Amortisation of Lease Premia 55,29,63 53,29,82
(ii) Direct refinance to DCCBs 2949,50,70 2565,20,00   Book Value 130,54,48 128,68,10
2 PREMISES    
(iii) Other Refinance Loans – JNN Solar Mission 14,07 1,51,10
  Opening Balance 410,97,49 363,26,00
2 Direct Loans       Additions/adjustments during the year 5,82,50 47,71,49
(a) Loans under Rural Infrastructure Development Fund 110061,76,71 100981,48,44   Sub-Total 416,79,99 410,97,49
  Less: Cost of assets sold/written off – –
(b) Loans under Warehouse Infrastructure Fund 4296,12,13 3402,10,63
  Closing Balance (at cost) 416,79,99 410,97,49
(c) Long Term Non-Project Loans (net of provision) 1908,16,01 1188,04,05   Less: Depreciation to date 244,34,37 240,94,02
(d) Loans under NABARD Infrastructure Development 7241,57,49 4978,00,40   Book Value 172,45,62 170,03,47
Assistance (NIDA) 3 FURNITURE & FIXTURES    
(e) Loans under Producers’ Organisation Development Fund 219,61,25 316,57,82   Opening Balance 63,09,78 63,19,51
(PODF) (net of provision)   Additions/adjustments during the year 6,83,35 90,26
  Sub-Total 69,93,13 64,09,77
(f) Credit Facility to Federations [CFF] 11954,00,00 6961,00,00
  Less: Cost of assets sold/written off 61,98 99,99
(g) Loans under Food Processing Fund 239,40,24 139,78,82   Closing Balance (at cost) 69,31,15 63,09,78
(h) Loans under Long Term Irrigation Fund 20446,52,47 9086,02,10   Less: Depreciation to date 61,34,29 59,27,74
  Book Value 7,96,86 3,82,04
(i) PMAY-G 7329,43,00 –
4 COMPUTER INSTALLATIONS & OFFICE EQUIPMENTS    
(j) Other Loans:       Opening Balance 109,15,54 103,89,38
(i) Loans out of Watershed Development Fund 33,68,88 37,47,02   Additions/adjustments during the year 18,49,48 8,24,65
  Sub-Total 127,65,02 112,14,03
(ii) Loans under KfW UPNRM (net of provision) 181,59,72 68,71,50
  Less: Cost of assets sold/written off 3,94,05 2,98,49
(iii) Loans out of Tribal Development Fund (net of provision) 6,08,15 11,38,51   Closing Balance (at cost) 123,70,97 109,15,54
(iv) Loans under off-farm sector promotion activities (net of 252,91,48 200,54,11   Less: Depreciation to date 103,40,24 96,95,23
provision)   Book Value 20,30,73 12,20,31
(v) Loans out of Micro Finance Development Equity Fund – 83,41 5 VEHICLES    
(net of provision)   Opening Balance 8,75,54 8,17,74
  Additions/adjustments during the year 2,06,66 2,17,00
(vi) Loans out of Cooperative Development Fund – 42,86
  Sub-Total 10,82,20 10,34,74
(vii) Loans out of Farmers technology fund 2,88 4,27   Less: Cost of assets sold/written off 1,93,33 1,59,20
(k) Co-Finance Loans (Net of Provision) 12,14 79,68   Closing Balance (at cost) 8,88,87 8,75,54
  Less: Depreciation to date 4,97,46 4,51,60
  Total 352359,73,57 305224,38,36
  Book Value 3,91,41 4,23,94
6 Capital Work in Progress [Purchase of Staff Quarters & Office 151,05,90 85,12,18
Premises]
  Total 486,25,00 404,10,04

210 211
 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

Consolidated Schedule 13 – Other Assets Sr. No. Particulars 2017–18 2016–17

( in Thousands) 16 Rural Innovation Fund – –

Sr. No. Particulars As on 31.03.2018 As on 31.03.2017 17 Indo German Watershed Development Programme – 4,68 2,85
Andhra Pradesh
1 Accrued Interest 3300,06,22 2882,11,32
18 Indo German Watershed Development Programme – Rajasthan 4,83 64
2 Deposits with Landlords 1,76,48 1,60,35
19 Indo German Watershed Development Programme – Gujarat 6,23 21,56
3 Deposits with Government Departments and Other Institutions 36,60,91 10,44,47
20 KfW – NB Indo German Watershed Development Programme- – –
4 Housing loan to staff 127,77,02 121,13,40
Phase III-Maha
5 Other Advances to staff 97,51,32 91,22,13
21 KfW – NB – IX Adivasi Development Programme – 59,96
6 Advances to Landlords 63 92
22 KfW – NB – V Adivasi Development Programme 1,06 7,54
7 Sundry Advances 120,88,74 86,23,76
23 Corporate Borrowings from Banks and FIs in India – –
8 Deferred Tax Assets 196,32,50 184,31,15
24 Rural Innovation Fund – –
9 Expenditure recoverable from Government of India / 146,44,18 71,04,59
International Agencies. 25 Tribal Development Fund 73,76,67 57,91,12

10 Discount Receivable 418,67,60 104,25,32 26 Multi Activity Approach for Poverty Alleviation – BAIF Project- 45 47
Sultanpur / Raebareli UP
  Total 4446,05,60 3552,37,41
27 Financial Inclusion Fund 84,88,14 142,77,35
  28 Financial Inclusion Fund – Digital 1,56,73 –

Consolidated Schedule 14 – Interest and Financial Charges 29 Center for Professional Excellence in Co-operatives 14,35 15,16
30 Commitment Charges -KfW UPNRM Borrowings – –
( in thousands)
31 Deposits / Borrowings 1,66,85 1,50,12
Sr. No. Particulars 2017–18 2016–17
32 Discount Cost Paid on Certificate of Deposits 346,75,31 475,43,93
Interest Paid on    
33 Interest Paid on STRRB Deposits 438,73,22 694,02,10
1 Loans from Central Government – 52,33
34 Interest Paid on LTRCF Deposits 1586,40,35 1333,72,13
2 Bonds 4475,12,40 3626,04,77
35 Interest Paid on Fund for Food Processing Units 13,48,10 7,23,53
3 Tea / Coffee / Rubber Deposits 7,87,99 11,49,55
36 Repo – Interest Expenditure a/c 198,95,61 9,45
4 Term Money Borrowings 159,40,74 98,45,04
37 Interest Paid on Funds – –
5 CBS Deposits 1,05 72
38 Discount Paid on Bonds – –
6 Financial Inclusion Fund/Financial Inclusion Technology Fund – –
39 Int Paid – PMAY-G Bonds – –
7 Borrowings from International Agencies 22,50,95 24,19,01
40 Discount on Collateralised Borrowing and Lending Obligations 360,19,52 117,48,44
8 Commercial Paper 1527,90,18 879,02,24
41 Swap Charges 6,03 48,46
9 Borrowing against ST Deposit 50,23 24,71
42 Discount Brokerage Commission and issue exp. on Bonds and 22,96,68 15,53,26
10 KfW UPNRM – Accompanying measures – 22 Securities

11 Short Term Cooperative Rural Credit Fund 1954,54,21 2452,44,43 43 Loss On Investments – –

12 Deposits under RIDF 6276,76,17 6038,85,05 44 National Adaptation Fund for Climate Change 6,46,39 7,12,69

13 Warehouse Infrastructure Fund 221,74,67 214,13,98   Total 17848,55,92 16268,66,82

14 Cattle Development Programme (UP and Bihar) 55 59

15 Watershed Development Fund 65,95,58 68,83,42

212 213
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Consolidated Schedule 15 A – Establishment and Other Expenses Consolidated Schedule 16 – Provisions

( in thousands) ( in thousands)

Sr. No. Particulars 2017–18 2016–17

Sr. No. Particulars 2017–18 2016–17
1 Salaries and Allowances 898,44,31 707,30,94
  Provisions for :    
2 Contribution to / Provision for Staff Superannuation Funds 701,78,87 961,08,10
1 Amortisation of G. Sec – –
3 Other Perquisites & Allowances 57,70,00 41,50,93
2 Standard Assets 186,49,14 173,43,36
4 Travelling & Other allowances in connection with Directors’ & 40,70 41,48
Committee Members’ Meetings 3 Non-Performing Assets 24,69,21 9,41,39

5 Directors’ & Committee Members’ Fees 18,90 13,27 4 Depreciation in Investments G Sec – –

6 Rent Rates Insurance Lighting etc. 37,04,40 36,22,55 5 Depreciation in value of Investment Account – Equity – –
7 Travelling Expenses 44,85,56 42,28,51 6 Sacrifice in Interest Element of Restructured Accounts – (3,25,42)
8 Printing & Stationery 6,56,80 5,68,42 7 Other Assets/Receivable – (24,07)
9 Postage Telegrams & Telephones 19,53,30 20,54,47 8 NB General Advices – –
10 Repairs 39,73,77 51,53,65   Total 211,18,35 179,35,26
11 Auditors’ Fees 45,33 45,15

12 Legal Charges 1,53,91 1,24,81

13 Miscellaneous Expenses 138,74,94 103,30,00 Consolidated Schedule 17 – Commitments and Contingent Liabilities
14 Expenditure on Miscellaneous Assets 7,65,39 8,12,76 ( in thousands)

15 Expenditure on Study & Training 72,30,62 47,25,73 Sr. No. Particulars As on 31.03.2018 As on 31.03.2017

  Total 2026,96,80 2027,10,77 1 Commitments on account of capital contracts remaining to be 83,99,67 111,88,93
executed

  Sub Total “A” 83,99,67 111,88,93

Consolidated Schedule 15 B – Expenditure on Promotional Activities 2 Contingent Liabilities    

( in thousands) (i) Claims against the Bank not acknowledged as debt – 7,30,35

Sr. No. Particulars 2017–18 2016–17 (ii) Bank Guarantee 21,69,75 16,65,00
1 Cooperative Development Fund 18,77,59 16,72,43   Sub Total “B” 21,69,75 23,95,35
2 Producers Organization Development Fund 2,55,94 4,10,43
  Total (A + B) 105,69,42 135,84,28
3 Rural Infrastructure Promotion Fund 2,49,48 1,58,42

4 NFS Promotional Measures/Activities – 22

5 Farm Sector Promotion Fund 20,88,28 21,19,64

6 Climate Change Fund 1,03,53 4,95

7 Gramya Vikas Nidhi 6,78,99 –

  Total 52,53,81 43,66,09

214 215
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period in nature is disclosed separately only when
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9 Multi Activity Approach For Poverty Alleviation (Sultanpur 6.57% 7.46%
of: headed by Deputy Managing Director to evaluate and Rae Bareilly)
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1. In terms of the agreement with Kreditanstalt
15.4 Provisions, contingent liabilities and 1 KfW-UPNRM – Accompanying Measures 2.00 1.84
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Bank (KfW), accretion/income and
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expenditure under UPNRM have been
4 KfW-NB IGWDP (Gujarat) 0.97 0.00
charged to the fund. The loans granted out
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 " [CIT(A)]. The Income Tax department $ — ‹z&& #  z *  ! 
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  to StCBs, RRBs and to CCBs, Public Sector has preferred appeal against the order of an appeal against the above disallowance
to contributors in respect of Micro Finance *  #
 !" %‰ "  CIT(A) with ITAT, Mumbai. Pending appeal with CIT(A). During the year, the CIT(A) has
Development and Equity Fund (MFDEF). Co-operative Societies (PACS) for Seasonal with ITAT, the refund received from the IT passed order in favour of the Bank.
 

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   Agricultural Operations and under NRLM department is held in Income Tax Refund 18. During the Assessment of the Income for

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Appropriation account. 9. The salaries and allowances of the employees 13. During the Assessment of the Income for
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5. Pursuant to the directions of RBI, the
#  *  ' ‰ ! ‰      ± _{+{†++  Ÿ  ‰
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relative margin available to the Bank in The review is due from 01 November 2017.
# <+<{ƒ "
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excess of 0.5 percent in respect of Rural % "  

#+{{
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  an appeal against the above disallowance
Infrastructure Development Fund (RIDF) crore has been provided under the head the RIDF/STCRC and others, which was with CIT(A). During the year, the CIT(A) has
deposits, Warehousing Infrastructure Fund Salary and Allowances during the year. struck down by CIT(A). The Income Tax passed order in favour of the Bank.
(WIF) deposits and Food Processing Fund, 10. The Bank, during the year, in accordance department has preferred appeal against the 19. During the Assessment of the Income for
placed by the Commercial Banks is credited '‹__³""
#
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and PODF. Previous year, the amounts were The details of the deferred tax are as under: Refund Account. RIDF / STCRC funds. However, the Bank has
credited to Watershed Development Fund, 14. During the Assessment of the Income for !   

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Tribal Development Fund and Financial     ± _{++†+_  Ÿ  ‰ CIT(A).
(Amount in  crore)
Inclusion Fund.
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6. Pursuant to the agreement with Government Sr. Deferred Tax Assets 31 March 31 March
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No. 2018 2017
of India, the relative margin in excess of $ — ‹z&& #  z *  !  
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1 Provision allowable on 170.22 149.64
0.60%, if any, in respect of Long Term an appeal against the above disallowance for which conveyance is yet to be completed.
payment basis

 $    # 
 ³”z$ with CIT(A). During the year, the CIT(A) has 21. The depreciation policy for premises in lease
2 Depreciation on Fixed 24.12 31.55
Fluctuation Reserve Fund”, which will be Assets passed order in favour of the Bank. hold land and premises on free hold land has
used during the period when the relative Total 194.34 181.19 15. During the Assessment of the Income for been revised during the year. The change
margin is less than 0.60%. During the year     ± _{+_†+<  Ÿ  ‰ in the depreciation policy has resulted in
 

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being the excess margin earned has been Special Reserve created u/s 36(1)(viii) of
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transferred to the ‘LTIF Fluctuation Reserve the Income Tax Act, 1961, is not considered $ — ‹z&& #  z *  !  crore. This amount has been credited to the
Fund’ out of Interest Received account. necessary, as the Bank has decided not to an appeal against the above disallowance depreciation account, thereby, resulted in
7. Subvention received/receivable from withdraw the said reserve. with CIT(A). During the year, the CIT(A) has " 
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Government of India (GOI) under Seasonal 11. The tax liability of the Bank for the passed order in favour of the Bank. +{<;"

Agricultural Operations (SAO) amounting to Assessment Year 2002-03 amounting to 16. During the Assessment of the Income for 22. Investments in Government securities
<+;{; "
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Livelihood Mission (NRLM), being the paid the said liability. However, the Bank
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"'"

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" #
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and shown as accrued interest and disclosed 12. Income Tax Department had reopened the passed order in favour of the Bank.
under Schedule 13. assessment for the Assessment Year (AY) 17. During the Assessment of the Income for
‡  "  "   +_<{< "
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towards administration charges on providing &
 

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 []]€[?X‚@?Q_{+ƒ†+‡ []]€[[ZZ@€]Q~_{+ƒ†+‡

(Amount in  crore)  

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  ®   (b) Concentration of credit exposures
Commodity Exchange Limited (UCX) is
Particulars Face Value Book Value
treated as an Non Performing Investment as (Amount in  crore)
648.00 676.64
Pledged for Business Segment (Securities) the company was barred from operating as a
(65.00) (63.51) Sr. Particulars 2017–18 2016–17
Pledged for Business Segment (Collateralised Borrowing and Lending 8856.00 8972.64 Commodity Exchange following Forward Markets No.
Obligation) (8751.68) (9000.53) Commission (FMC) directive in July 2014. As per (i) Total exposures
27.00 28.19 the RBI guidelines the investment in the company to twenty largest 179347.95 170052.61
Pledged for Business Segment (Securities) Default Fund borrowers
(3.00) (3.13)   +—Š
(ii) Percentage of
Pledged for Business Segment (Collateral Borrowing and Lending 25.00 26.10 25. * ))*
*7
V**,.
W
 
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Obligation) – Default Fund (5.00) (4.63) exposures to

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twenty largest
50.50 55.05
(a) Concentration of borrowings and lines borrowers to
23. Dividend proposed by the subsidiaries for
of credit Total Advances
‰_{+ƒ†+‡ ="

 
# (Amount in  crore) of the AIFI
shareholders in the ensuing Annual General
Meeting: Sr. Particulars 2017–18 2016–17
26. Pattern of Capital contribution as on
No.
the date of the Balance Sheet:
(Amount in  crore) (i) Total borrowings
from twenty 225787.25 168502.98 The shareholding of Government of India
Sr. No. Subsidiary Proposed dividend largest lenders and RBI in the Paid up capital as on 31 March
(ii) Percentage of 2017 was at 99.60%: 0.40%. During the
1 NABCONS 0.60 borrowings from current year, balance shareholding of RBI
2 NABSAMRUDDHI 1.67 twenty largest 67.80 86.67
has been transferred to Government of India,
lenders to total
3. NABKISAN 2.89 borrowings as such, as on 31 March 2018, the entire share
capital is subscribed by Government of India.
4. NABFINS 3.23
The details are given below.
( crore)
5&
*U 7*+.
 )+ )

Contributor 31 March 2018 31 March 2017

(Amount in  crore)
Reserve Bank of India 0.00 0.00% 20.00 0.40%
Sr. No. Particulars 31.03.2018 31.03.2017
Government of India 5,000.00 100.00% 4,980.00 99.60%
(i) Net NPI to Net Investments (%) 0.00 0.00
Total 5,000.00 100.00% 5,000.00 100.00%
(ii) Movement of NPIs (Gross)
(a) Opening Balance 16.00 16.00
(b) Additions during the year 0.00 0.00
  ‰  

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(c) Reductions during the year 0.00 0.00
Œ+ˆ{{ "
’    " #

(d) Closing Balance 16.00 16.00
Government of India towards Share Capital
(iii) Movement of Net NPIs
and the same has been held as Advance
(a) Opening Balance 0.00 0.00
towards Capital a/c pending enhancement
(b) Additions during the year 0.00 0.00
of Authorized Capital. The advance towards
(c) Reductions during the year 0.00 0.00
 "  

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(d) Closing Balance 0.00 0.00
31 March 2018. Pursuant to increase of
(iv) Movement of provisions for NPIs 
¤ & 
#  
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(a) Opening balance 16.00 16.00 "
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+ˆ+{
(b) Provision made during the year 0.00 0.00 10 April 2018, the above advance would be
(c) Write off / write back of excess provision 0.00 0.00 transferred to Share Capital account during
(d) Closing balance 16.00 16.00 ‰_{+‡†+;

226 227
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27. The movement in *). )

V )E as (b) Information on Primary Business Segment
œ  ‹ _; ³%
 
  &
 (Amount in  crore)
Liabilities and Contingent Assets” is as Particulars Treasury Refinance Direct Lending Other Business Total
under:
Business 2017–18 2016–17 2017–18 2016–17 2017–18 2016–17 2017–18 2016–17 2017–18 2016–17
Segments
(Amount in  crore)
Revenue 2987.81 3026.69 12240.71 11317.47 9256.82 8007.01 110.97 85.35 24596.30 22436.52
Particulars 2017–18 2016–17 Result 511.25 1391.24 3514.19 3085.85 2400.95 1431.75 –1482.87 –1479.84 4943.53 4429.00
Unallocated                 504.84 542.29
Opening Balance 16.94 0.29
Expenses
Addition during the year 21.69 16.65 Operating Profit 4438.69 3886.71
Deletion during the year 16.94 0.00 Income Taxes                 1420.17 1197.50

Closing Balance 21.69 16.94 Extraordinary 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
profit / loss
Net Profit                 3018.52 2689.21
_‡ %

 " %
!
Other Information                  
Loss account are as follows:
Segment Assets 47809.01 33708.94 190887.18 181797.45 165719.86 129258.67 2579.60 3844.86 406995.65 348609.92

(Amount in  crore) Segment 45487.70 35365.39 191389.94 162534.44 124887.75 112451.43 0.00 0.00 361765.38 310351.26
Liabilities
Sr. No. Particulars 2017–18 2016–17 Unallocated                 45230.27 38258.65
1. Income 0.00 11.61 Liabilities

2. Revenue Expenditure 0.00 0.00 Total Liabilities                 406995.65 348609.92

3. Post-Retirement Medical Benefits 0.00 0.00

(c) Since the operations of the Bank are
4. Fund Expenditure 0.00 0.00
"
! 
 
 ‰    

Total 0.00 11.61
reportable secondary segment.
30. Figures in brackets pertain to previous year.
29. 7*+)*
*
=- 
6 .+ ) loans disbursed by them to the <+ %
 ‰˜ ! 
—
(a) = 7
=.*- ultimate borrowers. rearranged wherever necessary.
The Bank has recognized Primary iii)  -E: Includes investment of
segments as under: funds in treasury bills, short-term Schedules referred to above form an integral part of accounts
i) Direct Finance: Includes Loans deposits, government securities,
As per our attached report of even date
given to state governments and other etc.
Vyas & Vyas
agencies for rural infrastructure iv) Unallocated: Includes income
Chartered Accountants

 "
Š!"
   #
 
  

FRN . 000590C
loans given to voluntary agencies/ miscellaneous receipts and

†
 
¤
  expenditure incurred for the
for developmental activities and developmental role of the bank and O P Vyas
other direct loans to Co-operative common administrative expenses. R K Deb Barman
Partner
Banks etc. Chief General Manager
M No. 014081
ii)  > : Includes Loans Accounts Department
Shillong
and Advances given to State Date : 25 May 2018
Date : 25-May-18
Governments, Commercial Banks,
SCARDBs, StCBs Regional Rural
*  "   !"    Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash
Chairman Deputy Managing Director Director Director

228 229
 []]€[[ZZ@€]Q~_{+ƒ†+‡

Particulars 2017–18 2016–17

Sale of Fixed Assets 6,49,66 5,57,68
Increase / Decrease in Investment –5627,99,87 6560,35,55

6I
4J Net cash used / generated from investing activities (B) –2731,90,70 9513,70,41
(c )Cash flow from financing activities    
Grants / contributions received –441,15,07 –110,83,44
Proceeds of Bonds 23483,61,73 11414,01,05
Increase / (Decrease) in Borrowings 10120,19,34 14343,45,21
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT Increase / (Decrease) in Deposits 20035,15,45 4628,48,24
Consolidated Cash flow for the year ended 31 March 2018
Divided Paid including Tax on Dividend –7,73,66 0
( in Thousands)
Increase in Share capital 3889,44,00 1400,00,00
Particulars 2017–18 2016–17
Net cash raised from financing activities (C) 57079,51,79 31675,11,06
(a) Cash flow from Operating activities    
Net increase in cash and cash equivalent (A)+(B)+(C ) –2224,86,16 777,51,62
Net Profit as per Profit and Loss a/c before tax 4438,68,57 3886,70,93
Cash and Cash equivalent at the beginning of the year 4133,54,95 3356,03,33
Adjustment for:    
Cash and cash equivalent at the end of the year 1908,68,79 4133,54,95
Depreciation 18,36,84 28,61,99
Cash and cash equivalent at the end of the year includes : 2017–18 2016–17
Provisions and Amortisations 0 –24,07
Cash in hand 29 36
Provision for Non performing Assets 22,57,05 9,41,39
Balance with Reserve Bank of India 187,31,46 2229,83,39
Provision for Standard Assets 185,76,20 173,43,36
Balances with other Banks in India 56,28,80 546,36,06
Provision for sacrifice in interest element of Restructured Loan 0 –3,25,42
Remittances in Transit 460,84,72 8,29,39
Profit / Loss on sale of Fixed Assets -21,03 –21,47
Collateralised Borrowing and Lending Obligations 1204,23,52 1349,05,75
Interest credited to various Funds (including addition/ adjustment made to
232,92,28 277,73,56 Total 1908,68,79 4133,54,95
Interest Differential Fund)
Income from Investment (including Discount Income) –2996,53,41 –3021,79,15
Operating profit before changes in operating assets 1901,56,50 1350,41,12 As per our attached report of even date
Adjustment for changes in working capital :     Vyas & Vyas
Chartered Accountants
(Increase) / Decrease in Current Assets –8908,75,88 200,19,25
FRN . 000590C
Increase / (Decrease) in Current Liabilities –1255,04,58 2048,90,18
Increase in Loans and Advances (Including Housing Loan & Other
–46825,18,15 –44844,41,99
Advances to Staff O P Vyas
R K Deb Barman
Cash generated from operating activities –55087,42,11 –41244,91,44 Partner
Chief General Manager
M No. 014081
Income Tax paid - Net of refund –1485,05,15 833,61,59 Accounts Department
Shillong
Net cash flow from operating activities (A) –56572,47,25 –40411,29,85
Date : 25 May 2018
Date : 25 May 2018
(b) Cash flow from Investing activities    
Income from Investment (including Discount Income) 2996,53,41 3021,79,16 Harsh Kumar Bhanwala R Amalorpavanathan Ashok Gulati Anup Kumar Dash
Purchase of Fixed Asset –106,93,90 –74,01,98 Chairman Deputy Managing Director Director Director

230 231
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Chairman’s Secretariat chairmansectt@nabard.org 
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Deputy Managing Director (Shri H. R. Dave)’s Secretariat dmd.dave@nabard.org
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Deputy Managing Director (Shri R.Amalorpavanathan)’s Secretariat dmd.amal@nabard.org NABARD Complex, Kamaraj Road 1st & 2nd Floor Pithalia Complex, NABARD TOWERS, Near Saraswati
Accounts Department ad@nabard.org (VIP Road), PO Junglighat Oppo. Trunk Exchange, Dham, Rail Head Complex, Railway
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Business Initiative Department bid@nabard.org Tel No : (03192) 233308 †ˆ;_{{;Œ&•’ Tel No : (0191) 2472355
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Department of Economic Analysis and Research dear@nabard.org 1-1-61, RTC ‘X’ Roads 3rd Floor, Nizari Bhavan, Opposite Adivasi College Hostel
Department of Financial Inclusion and Banking Technology !Ë
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­±`†/{{{_{ %=†ˆ{<{{+ "†‡<ˆ{{+
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NABARD Tower NABARD Tower NABARD Towers,
Department of Subsidiaries and Strategic Investments dssi@nabard.org Bank Tinali Opp. Municipal Garden 46, Kempe Gowda Road
Farm Sector Development Department fsdd@nabard.org Post Box No. 133 Post Box no. 8  †/“{{{;
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Law Department law@nabard.org Dispur &†+“{{__ Punnen Road, Statue
Micro Credit Innovation Department mcid@nabard.org •®©­z†ƒ‡+{{“ Tel no : (0172) 5046728/5046784 z†“;/{{+
Tel No : ( 0361) 2313228 Fax : (0172) 2604033, Tel no : (0471) 2701600/2701700
NABARD Consultancy Services (NABCONS) 
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NABSAMRUDDHI Finance Limited nabsamruddhi@nabard.org =I II
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 Block No. 32 E-5, Arera Colony

Maurya Lok Complex SDA Commercial Complex Bittan Market
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Dak Bunglow Road Kasumpti, 
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Risk Management Department rmd@nabard.org %†‡{{{{+ ‹ †+ƒ+{{; Tel No : (0755) 2464775
Secretary’s Department secy@nabard.org Tel No : (0612) 2223985 Tel No : 0177-2622258/2624380/ Fax No : (0755) 2466188
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Reception : 022-26539895/96/99
Protocol & Security : 022 - 26539046

232 233
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54, Wellesley Road Ankur, 2/1, Nayapalli Civic Centre 1-1-61, RTC ‘X’ Roads
Shivaji Nagar  '†ƒ/+{+/ Musheerabad REGISTERED OFFICE CORPORATE OFFICE
%†ˆ++{{/ Tel no : (0674) 2553884/2374301/ ­‰†/{{{_{ c/o NABARD c/o NABARD
Tel No : (020 ) 25500176/ 2374302/2374303 Tel No : (040) 27612640 3rd Floor,C - wing, 
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25500172/ 25541439 Fax No : (0674) 2552019 Fax No : (040) 27611829 ­ª" NABARD Tower,24,
Fax : (020) 25542250 Email id : bhubaneswar@nabard.org Email id : hyderabad@nabard.org Plot No. C-24, G- Block, Bandra-Kurla Complex, Rajendra Place, 1st Floor, NABARD Building,
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Tel No : 02226539419/26539320 Tel No : 011 41539353
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Leiren Mansion 2nd Floor Plot No. 3, Sector 34-A, Shilpa Nigam Bhaban,Ground Floor `  
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Lamphelpat, Chandigarh - 160022 Khejur Bagan near Ginger Hotel PO
 †ƒ;/{{ˆ Tel No : (0172) 5046701; ²= †ƒ;;{{“
Tel No : (0385) 2416192 Fax No : (0172) 2604433, Tel No : (0381) 2412378 =O6
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Email id : imphal@nabard.org Email id : agartala@nabard.org REGISTERED OFFICE CORPORATE OFFICE
c/o NABARD, c/o NABARD,
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 ª" Ground Floor, ‘D’ Wing,
‘U Pheit Kharmihpen Building’ 3,Nehru Place, Tonk Road, 11, VipinKhand, Gomti Nagar
48, Mahatma Gandhi Road,Nungambakkam ­ª"
2nd & 3rd Floor, Plot No. 28(2) «†<{_{+/ ”"*
'†__“{+{
Chennai- 600034 Plot No. C-24, G- Block, BandraKurla Complex
Dhankheti Tel No: (0141) 2741633/2740821 Tel No : (0522) 2307630/4005394
Tel No: 044 28304658/ 28270138 Bandra ( East)
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Bawngkawn Church Road Hotel Sunrise Building
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FIG Farmer Interest Group JCC Joint Consultative Committee MPC Milk Producer Company NWDA National Water Development
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GW Gigawatt ME Micro Enterprise PMJDY Pradhan Mantri Jan Dhan Yojana
Derivatives Exchange Limited
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NDDB National Dairy Development
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SCARDB State Cooperative Agriculture and UN United Nations
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Consortium V-SAT Very Small Aperture Terminal
SFB Small Finance Banks VWC Village Watershed Committee
SFPs State Focus Papers WB World Bank
SHG Self-Help Group WDF Watershed Development Fund
SHPI Self Help Promoting Institutions WIF Warehouse Infrastructure Fund
SLBC State Level Bankers’ Committee WSHG Women Self Help Group
SLCC State Level Consultative XIMB Xavier Institute of Management,
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