Full Text
REGD. No. D. L.-33004/99
CG-DL-E-31082026-275871
EXTRAORDINARY
PART III—Section 4
PUBLISHED BY AUTHORITY
NEW DELHI, MONDAY, AUGUST 17, 2026/SHRAVAN 26, 1948
THE GAZETTE OF INDIA : EXTRAORDINARY
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
NOTIFICATION
New Delhi, the 24th July, 2026
F. No. NB.Secy/47664/2026-27.—
REPORT ON THE AUDIT OF THE STANDALONE FINANCIAL STATEMENTS
OPINION
We have audited the accompanying Standalone Financial Statements of National Bank for
Agriculture and Rural Development (‗the Bank‘ or ‗NABARD‘), which comprise the Standalone
Balance Sheet as at March 31, 2026, Standalone Profit and Loss Account and the Standalone
Cash Flow Statement for the year then ended, and notes to the Standalone Financial Statements,
including a summary of significant accounting policies and other explanatory information herein
after referred to as the (‗Standalone Financial Statements‘).
In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid Standalone Financial Statements are full and fair financial statements containing all
necessary particulars and properly drawn up in conformity with National Bank for Agriculture
and Rural Development (Additional) General Regulations, 1984 and the Accounting Standards
notified by the Institute of Chartered Accountants of India (‗ICAI‘) and accounting principles
generally accepted in India, so as to give a true and fair view of the state of affairs of the Bank as
at March 31 2026, the profit and its cash flows for the year ended on that date.
BASIS OF OPINION
We conducted our audit of the standalone financial statements in accordance with the Standards
on Auditing (‗SAs‘) issued by the ICAI. Our responsibilities under those SAs are further
described in the Auditor‘s Responsibilities for the Audit of the Standalone Financial Statements
section of our report. Those Standards require that we comply with ethical requirements. We are
independent of the Bank in accordance with the Code of Ethics issued by ICAI and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the Code of
Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide the basis for our audit opinion on the standalone financial statements.
KEY AUDIT MATTERS
Key audit matters are those matters that, in our professional judgment, were of most significance
in our audit of the Standalone Financial Statements for the financial year ended 31 March 2026.
These matters were addressed in the context of our audit of the Standalone Financial Statements,
as a whole, and in forming our opinion thereon, we do not provide a separate opinion on the key
audit matters. In our professional judgement, we have decided the following to be the key audit
matter to be communicated in our report:
+-----+---------------------------------------------------+---------------------------------------------+
| Key Audit Matter | How our audit addressed the key audit matter |
+=====+===================================================+=============================================+
| 1. | Identification of Non-performing Advances, | Principal audit procedures performed |
| | Income Recognition and Provision of Advances | |
| | | - Understanding and considering the Bank‘s |
| | Advances include Refinance loans to banks, | accounting policies for NPA identification |
| | Financial Institutions, Micro Finance Institutions | and provisioning and assessing compliance |
| | and NBFCs; and Direct loans to State Governments | with the prudential norms prescribed by |
| | and Central Government. | the RBI |
| | | (IRACP Norms), including the additional |
| | The Reserve Bank of India (‗RBI‘) has prescribed | provisions and asset classification benefit |
| | the ‗Prudential Norms on Income Recognition, | extended on restructured advances. |
| | Asset Classification and Provisioning‘ in respect | - Understanding the key controls (including |
| | of advances for banks (‗IRACP Norms‘). | system based automated controls) for |
| | | identification and provisioning of impaired |
| | The identification of performing and non- | accounts based on the extant guidelines |
| | performing advances involves establishment of | on IRACP laid down by the RBI. |
| | proper mechanism and the Bank is required to | |
| | apply significant degree of judgement to identify | - Considering testing of the exception reports|
| | and determine the amount of provision required | generated from the application systems |
| | against each advance applying both quantitative | where the advances have been recorded. |
| | as well as qualitative factors prescribed by the | |
| | regulations. | - Considering the accounts reported by the |
| | | Bank and other banks as Special Mention |
| | Significant judgements and estimates for NPA | Accounts (―SMA‖) in RBI‘s central |
| | identification and provisioning could give rise | repository of information on large credits|
| | to material misstatements on: | (CRILC) to identify stress. |
| | | |
| | - Completeness and timing of recognition of non- | - Reviewing account statements, drawing |
| | performing assets in accordance with criteria | power calculation, security and other |
| | as per IRACP norms; | related information of the borrowers |
| | | selected based on quantitative and |
| | - Measurement of the provision for non- | qualitative risk factors. |
| | performing assets based on loan exposure, | |
| | ageing and classification of the loan, | - Reading of minutes of Credit Risk |
| | realizable value of security; | Monitoring committee meetings and |
| | | performing inquiries with the Bank to |
| | - Appropriate reversal of unrealized income on | ascertain if there were indicators of |
| | the NPAs. | stress or an occurrence of an event of |
| | | default in a loan account or any product. |
| | Since the classification of advances, | |
| | identification of NPAs and creation of provision | - Considering key observations arising out |
| | on advances (including additional provisions | of Internal Audits and Concurrent Audits |
| | under applicable IRACP Norms) and income | conducted as per the policies and |
| | recognition on advances: | procedures of the Bank. |
| | | |
| | - requires proper control mechanism and | - Considering the RBI Financial Inspection |
| | significant level of estimation by the Bank | report on the Bank, the Bank‘s response |
| | and has significant impact on the overall | to the observations and other |
| | financial statements of the Bank; we have | communication with RBI during the year. |
| | ascertained this area as a Key Audit Matter. | |
| | | - Examination of advances on a sample basis |
| | (Refer Schedule 11 read with Note 8 of | with respect to compliance with the RBI |
| | Schedule 18 to the standalone financial | Master Circulars / Guidelines. |
| | statements) | |
| | | - Seeking independent confirmation of |
| | | account balances from borrowers. |
+-----+---------------------------------------------------+---------------------------------------------+
- Visits to regional offices and
examination of documentation and
other records relating to advances.
- For non-performing advances
identified, we, based on factors
including stressed sectors and account
materiality, tested on a sample basis the
asset classification dates, reversal of
unrealized interest, value of available
security and provisioning as per IRACP
norms.
- Recomputed the provision for NPA on
such samples after considering the key
input factors and compared our
measurement outcome to that prepared
by management.
2. Valuation of Investments,
Identification of and provisioning for
Non-Performing Investments
Investments include investments made by
the Bank in Central and State Governments
Securities, Bonds, Debentures, Shares,
Mutual Funds, AIFs and other approved
securities. RBI Circulars and directives,
inter-alia, cover valuation of investments,
classification of investments, identification
of non-performing investments, non recognition of income and provisioning
against non-performing investments.
The valuation of each category (type) of the
aforesaid securities is to be done as per the
method prescribed in circulars and
directives issued by the RBI which involves
collection of data/information from various
sources such as FBIL/FIMMDA rates, rates
quoted on BSE/NSE, financial statements
of unlisted companies etc.
We identified valuation of investments and
identification of NPI as a Key Audit Matter
because of the management judgement involved
in determining the value of certain
investments (Bonds and Debentures, AIFs)
based on applicable Regulatory guidelines
and the Bank‘s policies, impairment
assessment for HTM book based on
management judgement, the degree of
regulatory focus and the overall
significance to the financial results of the
Bank.
Principal audit procedures performed
- Evaluated and understood the Bank‘s internal
control system to comply with relevant RBI
guidelines regarding valuation, classification,
identification of NPIs, reversal of income on
NPIs and provisioning/depreciation related to
investments;
- Assessed and evaluated the process adopted for
collection of information from various sources
for determining market value of these
investments;
- Tested on sample basis , the accuracy
and compliance with the RBI Master
Circulars and directions by re performing valuation for each category
of the security;
- Carried out substantive audit procedures
to recompute independently the
provision to be maintained in accordance
with the circulars and directives of the
RBI.
- Selected samples from the investments of
each category and tested for NPIs as per
the RBI guidelines and recomputed the
provision to be maintained and if accrual
of income is in accordance with the RBI
Circular for those selected sample of
NPIs.
(Schedule 10 read with Note 5 of
Schedule 18 to the standalone financial
statements)
3. Multiple IT Systems and controls:
The Bank is dependent on technology
considering significant number of
transactions that are processed daily across
multiple and discrete Information
Technology (‗IT‘) systems. The audit
approach relies extensively on several
reports generated by interface of these IT
systems and inbuilt automated controls
therein.
The major IT systems concerning the
financial reporting process include:
• CLMAS – transactions processing,
workflows and financial reporting system
• NABRajKosh – Treasury Operations
• Empower HRMS – HR and payroll
• FAMS – Property, Plant and Equipment
and processing of expenses
• Interface/interplay of one or more of
above systems in building up or generating
reports.
IT general and application controls are
critical to ensure that changes to
applications and underlying data are made
in an appropriate manner. Adequate
controls contribute to mitigating the risk of
potential fraud or errors as a result of
changes to the applications and data.
Management of the Bank continuously
endeavours several remediation activities
and is in the process of bettering the
implementation thereof aiming at
minimization of the risks over IT
applications in the financial reporting
process.
These includes implementation of
preventive and detective controls across
critical applications and infrastructure.
Due to the pervasive nature, in our
preliminary risk assessment, we planned
our audit by assessing the risk of a material
misstatement arising from the technology as
significant for the audit, hence the Key
Audit Matter.
Principal audit procedures performed
- Involved our IT specialist for checking
the IT system and controls over
financial Reporting.
- Reviewed the report of IS Audit carried
out for half year ending March 31, 2025
by an independent firm of Chartered
Accountants pertaining to IT systems,
general controls including access rights
over applications, operating systems and
databases relied upon for financial
reporting.
- Understanding the Bank‘s IT control
environment and key changes in the course
of our audit that were considered relevant
to the audit;
- Selectively recomputing interest
calculations and maturity dates;
- Selectively re-evaluating masters updation,
interface with resultant reports;
- Testing of the system generated reports
and accounting entries manually for core
financial reporting matters (i.e. verification
around the computer system), so as to
rectify the incorrect entries noticed during
the audit.
INFORMATION OTHER THAN THE STANDALONE FINANCIAL STATEMENTS
AND AUDITOR‘S REPORT THEREON
The Bank‘s Management and Board of Directors are responsible for the preparation of the other
information, comprising of the information such as Report of Corporate Governance and such
other disclosures included in the Bank‘s annual report, but does not include the Financial
Statements and auditors‘ report thereon.
The Reports are expected to be made available to us after the date of this auditors‘ report. Our
opinion on the standalone financial statements does not cover the other information and we do not
express any form of assurance or conclusion thereon.
In connection with our audit of the Standalone Financial Statements, our responsibility is to read
the other information when it becomes available and, in doing so, consider whether the other
information is materially inconsistent with the Standalone Financial Statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated.
When we read the other Information and if we conclude that there is a material misstatement
therein, we are required to communicate the matter to those charged with governance as required
under SA 720 ‗The Auditor‘s responsibilities Relating to other Information‘.
RESPONSIBILITIES OF MANAGEMENT AND THOSE CHARGED WITH
GOVERNANCE FOR THE STANDALONE FINANCIAL STATEMENTS
The Bank‘s Management and the Board of Directors are responsible for the preparation of the
Standalone 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,
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.
In preparing the Standalone Financial Statements, the Management and Board of Directors are
also responsible for assessing the Bank‘s ability to continue as a going concern, disclosing, as
applicable, matters related to going concern and using the going concern basis of accounting
unless management either intends to liquidate the Bank or to cease operations, or has no realistic
alternative but to do so.
The Board of Directors is also responsible for overseeing the Bank‘s financial reporting process.
AUDITOR‘S RESPONSIBILITY FOR THE AUDIT OF THE STANDALONE
FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the Standalone Financial
Statements, as a whole, are free from material misstatement, whether due to fraud or error and to
issue an auditor‘s report that includes our opinion. Reasonable assurance is a high level of
assurance but is not a guarantee that an audit conducted in accordance with SAs will always
detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to
influence the economic decisions of users taken on the basis of these Standalone Financial
Statements.
As part of an audit in accordance with SAs, we exercise professional judgement and maintain
Professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the standalone financial statements,
whether due to fraud or error, design and perform audit procedures responsive to those risks,
and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Bank‘s internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors‘ use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Bank‘s ability to
continue as a going concern. If we conclude that material uncertainty exists, we are required
to draw attention in our auditor‘s report to the related disclosures in the standalone financial
results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor‘s report. However, future
events or conditions may cause the Bank to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone financial results,
including the disclosures, and whether the standalone financial results represent the
underlying transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the financial statements that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of
the financial statements may be influenced. We consider quantitative materiality and qualitative
factors in (i) planning the scope of our audit work and in evaluating the results of our work; and
(ii) to evaluate the effect of any identified misstatements in the financial statements.
We communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with
relevant ethical requirements regarding independence and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our independence, and
where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters
that were of most significance in the audit of the standalone financial statements of the current
period as per our professional judgement and are therefore Key Audit Matters. We describe such
matters in our Auditor‘s Report, unless law or regulation precludes public disclosure about the
matter when, in extremely rare circumstances, we determine that a matter should not be
communicated in our report because the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such communication.
OTHER MATTERS
• The Bank has 32 (Thirty-two) Regional Offices (ROs) including Head Office (HO), 3 (Three)
Training Establishments (TEs). The financial accounting systems of the Bank are centralized for
the ROs and TEs. Out of the total ROs, we have visited 11 (Eleven) ROs including Head Office
and 1 (One) TE, which covers 70.42% of Advances, 100% of PSL Deposits,100% of Borrowings
as on 31 March 2026 and 100% of interest income on advances, 100% of interest expenses PSL
Deposits and 100% of interest expenses on Borrowings for the year ended 31 March 2026. These
ROs have been selected in consultation with the management of the Bank. In conduct of the audit
we have relied on the various information and returns received from remaining ROs of the Bank
not visited by us, generated through centralized database at HO.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
The Balance Sheet and the Profit and Loss Account of the Bank including the heads and sub heads have been drawn up as per Schedule ‗A‘ and Schedule ‗B‘ of Chapter IV of National Bank
for Agriculture and Rural Development (Additional) General Regulations, 1984.
We further report that:
a) We have sought and obtained all the information and explanations which to 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 in course of our audit, have
been within the powers of the Bank.
c) In our opinion, the Balance sheet, Profit and Loss Account and Cash Flow Statement
dealt with by this report are in agreement with the books of account and with the returns
received from the regional offices and staff colleges not visited by us.
d) In our opinion, the Standalone Financial Statements comply with the applicable
accounting standards, in all material aspects.
For Suresh Surana & Associates LLP
Chartered Accountants
Firm‘s Registration No.: 121750W / W100010
Ramesh Gupta
Partner
Membership No.: 102306
UDIN: 26102306YYMWOY5004
Place: Mumbai
Date: 26 May 2026
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
STANDALONE BALANCE SHEET AS ON 31 MARCH 2026
(Amount in ₹ crore)
+-----+---------------------------------------------+----------+--------------+--------------+
| Sr. | FUNDS AND LIABILITIES | SCHEDUL | As on | As on |
| No. | | E | 31.03.2026 | 31.03.2025 |
+=====+=============================================+==========+==============+==============+
| 1 | Capital | | 17,080.00 | 17,080.00 |
| | (Under Section 4 of the NABARD Act, 1981) | | | |
+-----+---------------------------------------------+----------+--------------+--------------+
| 2 | Reserve Fund and other Reserves | 1 | 70,576.69 | 63,413.71 |
+-----+---------------------------------------------+----------+--------------+--------------+
| 3 | National Rural Credit Funds | 2 | 16,114.00 | 16,110.00 |
+-----+---------------------------------------------+----------+--------------+--------------+
| 4 | Gifts, Grants, Donations and Benefactions | 3 | 6,556.53 | 6,615.72 |
+-----+---------------------------------------------+----------+--------------+--------------+
| 5 | Government Schemes | 4 | 967.11 | 723.61 |
+-----+---------------------------------------------+----------+--------------+--------------+
| 6 | Deposits | 5 | 2,95,312.47 | 2,75,991.45 |
+-----+---------------------------------------------+----------+--------------+--------------+
| 7 | Bonds and Debentures | 6 | 3,45,517.32 | 3,27,366.25 |
+-----+---------------------------------------------+----------+--------------+--------------+
| 8 | Borrowings | 7 | 3,15,130.97 | 2,51,220.50 |
+-----+---------------------------------------------+----------+--------------+--------------+
| 9 | Current Liabilities and Provisions | 8 | 28,611.74 | 26,109.70 |
+-----+---------------------------------------------+----------+--------------+--------------+
| | Total | | 10,95,866.83 | 9,84,630.94 |
+-----+---------------------------------------------+----------+--------------+--------------+
Schedules referred to above form an integral part of the standalone financial statements
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
STANDALONE BALANCE SHEET AS ON 31 MARCH 2026
(Amount in ₹ crore)
+-----+----------------------------------------+----------+--------------+--------------+
| Sr. | PROPERTY AND ASSETS | SCHE | As on | As on |
| No | | DULE | 31.03.2026 | 31.03.2025 |
+=====+========================================+==========+==============+==============+
| 1 | Cash and Bank Balances | 9 | 49,183.29 | 45,358.92 |
+-----+----------------------------------------+----------+--------------+--------------+
| 2 | Investments | 10 | 1,03,507.62 | 91,817.30 |
+-----+----------------------------------------+----------+--------------+--------------+
| 3 | Advances | 11 | 9,30,822.88 | 8,39,055.03 |
+-----+----------------------------------------+----------+--------------+--------------+
| 4 | Property, Plant and Equipment (Fixed | 12 | 993.91 | 559.91 |
| | Assets) | | | |
+-----+----------------------------------------+----------+--------------+--------------+
| 5 | Other Assets | 13 | 11,359.13 | 7,839.78 |
+-----+----------------------------------------+----------+--------------+--------------+
| | Total | | 10,95,866.83 | 9,84,630.94 |
+-----+----------------------------------------+----------+--------------+--------------+
Commitment and Contingent Liabilities | 17 | | |
Significant Accounting Policies and | 18 | | |
Notes to Accounts | | | |
Schedules referred to above form an integral part of the standalone financial statements
As per our attached report of even date
For Suresh Surana & Associates LLP
Chartered Accountants
Firm Registration No.: 121750W/W100010
For and on behalf of the Board of Directors
Ramesh Gupta
Partner
Membership No.: 102306
Accounts Department
Mumbai
Date: 26 May 2026
Goverdhan Singh Rawat
Deputy Managing Director
Dr. Shaji Krishnan V
Chairman
R Inigo Arul Selvan
Chief General Manager & Secretary
Mumbai
26 May 2026
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
STANDALONE PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2026
(Amount in ₹ crore)
+--------+---------------------------------------------+----------+--------------+--------------+
| Sr. No.| INCOME | SCHEDULE | 2025-26 | 2024-25 |
+========+=============================================+==========+==============+==============+
| 1 | Interest on Loans and Advances | | 52,185.16 | 50,675.74 |
+--------+---------------------------------------------+----------+--------------+--------------+
| 2 | Income from Investment Operations / Deposits| | 5,766.01 | 5,815.27 |
| (a) | Interest on Investments | | 4,355.01 | 2,973.65 |
| (b) | Dividend on Investments | | 40.48 | 49.11 |
| (c) | Discount on Investments | | 1,313.87 | 1,332.67 |
| (d) | Gain/(Loss) on Sales/Maturity of Investments| | 1,842.65 | 905.11 |
| (e) | Gain/(Loss) on Revaluations of Investments | | (1,786.00) | 554.73 |
+--------+---------------------------------------------+----------+--------------+--------------+
| 3 | Other Receipts | | 2,723.68 | 1,933.40 |
+--------+---------------------------------------------+----------+--------------+--------------+
| | Total "A" | | 60,674.85 | 58,424.41 |
+--------+---------------------------------------------+----------+--------------+--------------+
+--------+---------------------------------------------+----------+--------------+--------------+
| Sr. No.| EXPENDITURE | SCHEDULE | 2025-26 | 2024-25 |
+========+=============================================+==========+==============+==============+
| 1 | Interest and Financial Charges (Refer Note | 14 | 48,753.78 | 44,861.17 |
| | B-24 of Schedule-18) | | | |
+--------+---------------------------------------------+----------+--------------+--------------+
| 2 | Establishment and Other Expenses | 15 A | 2,057.79 | 2,952.78 |
+--------+---------------------------------------------+----------+--------------+--------------+
| 3 | Expenditure on Promotional Activities | 15 B | 280.32 | 152.61 |
+--------+---------------------------------------------+----------+--------------+--------------+
| 4 | Provisions | 16 | 191.93 | 246.45 |
+--------+---------------------------------------------+----------+--------------+--------------+
| 5 | Depreciation and Amortisation | | 74.02 | 56.79 |
+--------+---------------------------------------------+----------+--------------+--------------+
| | Total "B" | | 51,357.84 | 48,269.80 |
+--------+---------------------------------------------+----------+--------------+--------------+
| 6 | Profit before Tax (A - B) | | 9,317.01 | 10,154.61 |
+--------+---------------------------------------------+----------+--------------+--------------+
| 7 | Tax Expense | | | |
| a) | Income Tax | | 2,170.00 | 2,450.00 |
| b) | Income Tax Adjustment for earlier years | | - | - |
| c) | Deferred Tax ( Refer Note B-19.5.1 of | | (21.16) | 76.28 |
| | Schedule 18) | | | |
+--------+---------------------------------------------+----------+--------------+--------------+
| 8 | Profit after Tax | | 7,168.17 | 7,628.33 |
+--------+---------------------------------------------+----------+--------------+--------------+
| | Significant Accounting Policies and Notes to| 18 | | |
| | Accounts | | | |
+--------+---------------------------------------------+----------+--------------+--------------+
Note - Other Receipts include interest received on staff loans, rental income and other miscellaneous income.
Schedules referred to above form an integral part of the standalone financial statements.
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
PROFIT AND LOSS APPROPRIATION ACCOUNT
(Amount in ₹ rore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| APPROPRIATIONS / WITHDRAWALS | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1 | Profit for the year brought down | 7,168.17 | 7,628.33 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Add: | | |
| | Withdrawals from funds against expenditure | | |
| | debited to Profit & Loss A/c [Refer Schedule| | |
| | 1] | | |
| a) | Co-operative Development Fund | 105.25 | 54.55 |
| b) | Research and Development Fund | 51.92 | 48.00 |
| c) | Producers' Organisation Development Fund | 116.95 | 0.29 |
| d) | Rural Infrastructure Promotion Fund | 2.60 | 3.18 |
| e) | Farm Sector Promotion Fund | 15.12 | 34.28 |
| f) | Climate Change Fund | - | - |
| g) | Gramya Vikas Nidhi | 37.66 | 57.69 |
| h) | Catalytic Capital Fund | 1.83 | 2.52 |
| i) | Technology Facilitation Fund | 0.90 | 3.94 |
| j) | Investment Fluctuation Reserve Fund | 7,500.40 | 7,832.78 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Profit available for Appropriation | | |
+--------+---------------------------------------------+--------------+--------------+
| | Less: Transferred to: [Refer Schedule 1&2] | | |
| a) | Special Reserves u/s 36(1) (viii) of Income | 980.00 | 850.00 |
| | Tax Act, 1961 | | |
| b) | National Rural Credit (Long Term | 1.00 | 1.00 |
| | Operations) Fund | | |
| c) | National Rural Credit (Stabilisation) Fund | 1.00 | 1.00 |
| d) | Research and Development Fund | 51.92 | 98.00 |
| e) | Co-operative Development Fund | 105.25 | 154.55 |
| f) | Producers' Organisation Development Fund | 116.95 | 0.29 |
| g) | Rural Infrastructure Promotion Fund | 2.60 | 3.18 |
| h) | Farm Sector Promotion Fund | 15.12 | 34.29 |
| i) | Gramya Vikas Nidhi | 37.66 | 57.69 |
| j) | Catalytic Capital Fund | 1.83 | 2.52 |
| k) | Technology Facilitation Fund | 0.90 | 3.94 |
| l) | NABARD Green Impact Fund | - | 1,000.00 |
| m) | NABARD Carbon Fund | - | 300.00 |
| n) | RRB Development Fund | - | 100.00 |
| o) | NABARD-Rural Samriddhi Fund (N-RSF) | 200.00 | - |
| p) | Reserve Fund | 5,986.17 | 5,226.32 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 7,500.40 | 7,832.78 |
+--------+---------------------------------------------+--------------+--------------+
Schedules referred to above form an integral part of the standalone financial statements
As per our attached report of even date
For Suresh Surana & Associates LLP
Chartered Accountants
Firm Registration No: 121750W/W100010
For and on behalf of the
Board of Directors
Ramesh Gupta
Partner
Membership No.: 102306
Accounts Department
Mumbai
Date: 26 May 2026
Goverdhan Singh Rawat
Deputy Managing Director
Dr. Shaji Krishnan V
Chairman
R Inigo Arul Selvan
Chief General Manager & Secretary
Mumbai
26 May 2026
Schedule 1 - Reserve Fund and Other Reserves
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| Sr. No.| Particulars | Opening | Additions/ | Withdrawals/ | Balance |
| | | Balance as | Transferred | Refund/ | as on |
| | | on | from P&L | Transferred to | 31.03.2026 |
| | | 01.04.2025 | Appropriatio | P&L | |
| | | | n | Appropriation | |
+========+=============================================+==============+===================+===================+==============+
| 1 | Reserve Fund* | 45,025.45 | 5,986.17 | - | 51,011.62 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 2 | Research and Development Fund | 100.00 | 51.92 | 51.92 | 100.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 3 | Capital Reserve | 74.81 | - | - | 74.81 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 4 | Investment Fluctuation Reserve | 1,885.70 | - | - | 1,885.70 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 5 | Co-operative Development Fund | 300.00 | 105.25 | 105.25 | 300.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 6 | Special Reserves Created & Maintained u/s | 14,000.00 | 980.00 | - | 14,980.00 |
| | 36(1)(viii) of Income Tax Act, 1961 | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 7 | Producers' Organisation Development Fund | 300.00 | 116.95 | 116.95 | 300.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 8 | Rural Infrastructure Promotion Fund | 50.00 | 2.60 | 2.60 | 50.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 9 | Farm Sector Promotion Fund | 60.00 | 15.12 | 15.12 | 60.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 10 | Gramya Vikas Nidhi | 110.00 | 37.66 | 37.66 | 110.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 11 | Climate Change Fund | 20.00 | - | - | 20.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 12 | Catalytic Capital Fund | 20.00 | 1.83 | 1.83 | 20.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 13 | Forex Fluctuation Reserve Fund | 17.75 | - | - | 17.75 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 14 | Technology Facilitation Fund | 50.00 | 0.90 | 0.90 | 50.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 15 | NABARD Green Impact Fund | 1,000.00 | - | - | 1,000.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 16 | NABARD Carbon Fund | 300.00 | - | - | 300.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 17 | RRB Development Fund | 100.00 | - | - | 100.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 18 | PODF-Credit guarantee Fund | - | - | (0.01) | 0.01 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 19 | Derivative - Hedging Reserve (Equity)# | - | - | 3.20 | (3.20) |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| 20 | NABARD-Rural Samriddhi Fund (N-RSF) | - | 200.00 | - | 200.00 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| | Total | 63,413.71 | 7,498.40 | 335.42 | 70,576.69 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
| | Previous year | 55,787.39 | 7,830.77 | 204.45 | 63,413.71 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+--------------+
*Note- The format prescribed in NABARD (Additional) General Regulations, 1984 for 'Reserve Fund and Other
Reserves' has Profit and Loss Account as one of the sub-item. Since the Bank has the practice of transferring
the balance in profit and loss account after all the appropriations to Reserve Fund, there remains no balance in profit
and loss account due to which the same has not been separately disclosed above.
#Refer Note B-11.5 (iii) (c) of Schedule 18
Schedule 2 - National Rural Credit Funds
(Amount in ₹ crore)
+--------+-------------------------------------+--------------+--------------+-------------------+--------------+
| Sr. No.| Particulars | Opening | Contrib | Transferred from | Balance |
| | | Balance | ution | P&L | as on |
| | | as on | by RBI | Appropriation | 31.03.2026 |
| | | 01.04.2025 | | | |
+========+=====================================+==============+==============+===================+==============+
| 1 | National Rural Credit (Long Term | 14,505.00 | 1.00 | 1.00 | 14,507.00 |
| | Operations) Fund | | | | |
+--------+-------------------------------------+--------------+--------------+-------------------+--------------+
| 2 | National Rural Credit (Stabilisation)| 1,605.00 | 1.00 | 1.00 | 1,607.00 |
| | Fund | | | | |
+--------+-------------------------------------+--------------+--------------+-------------------+--------------+
| | Total | 16,110.00 | 2.00 | 2.00 | 16,114.00 |
+--------+-------------------------------------+--------------+--------------+-------------------+--------------+
| | Previous year | 16,106.00 | 2.00 | 2.00 | 16,110.00 |
+--------+-------------------------------------+--------------+--------------+-------------------+--------------+
Schedule 3 - Gifts, Grants, Donations and Benefactions
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| Sr. No.| Particulars | Opening | Additions/ | Interest | Expenditure / | Balance |
| | | Balance as | Refunds | Credited# | Adjustments | as on |
| | | on | during the | | during the | 31.03.2026 |
| | | 01.04.2025 | year | | year | |
+========+=============================================+==============+===================+===================+===================+==============+
| A. | Grants from International Agencies | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 1 | GIZ UPNRM Technical Collaboration | 0.03 | - | - | 0.03 | - |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 2 | Climate Change - (AFB) - Project | 22.51 | 0.05 | 0.56 | - | 23.12 |
| | Formulation Grant | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 3 | National Adaptation Fund for Climate | 3.42 | 88.35 | 0.13 | 91.84 | 0.06 |
| | Change a/c | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 4 | GCF AE Fee grant to EE | - | 6.37 | - | 6.37 | 0.00* |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 5 | KfW Soil Project | - | 2.81 | - | 2.55 | 0.26 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 6 | GCF Project Grants | 20.35 | - | 1.84 | - | 22.19 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| B. | Other Funds | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 1 | Watershed Development Fund | 1,354.82 | - | 33.36 | 83.49 | 1304.69 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 2 | Interest Differential Fund - (Forex Risk) | 223.43 | - | - | - | 223.43 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 3 | Interest Differential Fund - TAWA | 0.10 | - | - | - | 0.10 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 4 | Adivasi Development Fund | 5.77 | - | - | - | 5.77 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 5 | Tribal Development Fund | 1,086.59 | - | 26.53 | 88.00 | 1025.12 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 6 | Financial Inclusion Fund (i) | 3,191.78 | 259.20 | 27.05 | 223.40 | 3254.63 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 7 | PODF-ID | 223.65 | - | 5.36 | 36.30 | 192.71 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 8 | National Bank - Swiss Development | 68.60 | 0.81 | - | - | 69.41 |
| | Cooperation Project | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 9 | RPF & RIF - Off-Farm Sector Promotion Fund | 20.83 | 2.49 | - | 1.09 | 22.23 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 10 | Centre for Professional Excellence in | 3.77 | - | 0.17 | - | 3.94 |
| | Co-operatives - (C-PEC) | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 11 | LTIF Interest Fluctuation Reserve Fund | 211.78 | 15.18 | 5.29 | - | 232.25 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 12 | Capacity Building Fund for Social Stock | 9.37 | - | 0.76 | 0.14 | 9.99 |
| | Exchange | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 13 | Climate Change Fund - ID (ii) | 168.92 | - | 4.19 | 6.48 | 166.63 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| | Total | 6,615.72 | 375.26 | 105.24 | 539.69 | 6,556.53 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| | Previous year | 6,691.17 | 346.00 | 186.96 | 608.41 | 6,615.72 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
#Refer B-21 of Schedule 18
Schedule 4 - Government Schemes
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| Sr. No.| Particulars | Opening | Additions/ | Interest | Expenditure/ | Closing |
| | | Balance as | Adjustments | Credited# | Disbursements | Balance |
| | | on | during the | | from the | as on |
| | | 01.04.2025 | year | | fund | 31.03.2026 |
+========+=============================================+==============+===================+===================+===================+==============+
| A | Government Subsidy Schemes | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 1 | Capital Investment Subsidy for Cold | 0.89 | - | - | 0.11 | 0.78 |
| | Storage Projects - NHB | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 2 | Capital Subsidy for Cold Storage TM North | 0.08 | - | - | - | 0.08 |
| | East | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 3 | Credit Linked Capital Subsidy for | 1.01 | - | - | - | 1.01 |
| | Technology Upgradation of SSIs | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 4 | On-farm Water Management for Crop | 0.07 | - | - | - | 0.07 |
| | Production | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 5 | Bihar Ground Water Irrigation Scheme | 78.98 | - | - | - | 78.98 |
| | (BIGWIS) | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 6 | Cattle Development Programme - Uttar | 0.04 | - | 0.00* | - | 0.04 |
| | Pradesh | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 7 | Cattle Development Programme - Bihar | 0.11 | - | 0.00* | - | 0.11 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 8 | National Project on Organic Farming | 1.80 | - | - | - | 1.80 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 9 | Integrated Watershed Development | 4.29 | - | - | - | 4.29 |
| | Programme - Rashtriya Sam Vikas Yojana | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 10 | Dairy and Poultry Venture Capital Fund | 2.83 | - | - | - | 2.83 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 11 | Poultry Venture Capital Fund | 0.08 | 0.10 | - | 0.02 | 0.16 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 12 | ISAM - Agricultural Marketing | 11.59 | - | 0.08 | 11.15 | 0.52 |
| | Infrastructure | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 13 | National Livestock Mission - PVCF EDEG | 0.30 | 0.10 | - | - | 0.40 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 14 | Centrally Sponsored Scheme for establishing | 0.08 | - | - | - | 0.08 |
| | Poultry Estate | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 15 | Multi Activity Approach for Poverty | 0.10 | - | 0.01 | - | 0.11 |
| | Alleviation - Sultanpur Uttar Pradesh | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 16 | Multi Activity Approach for Poverty | 0.02 | - | 0.00* | - | 0.02 |
| | Alleviation - BAIF - Rae Bareli, Uttar | | | | | |
| | Pradesh | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 17 | Dairy Entrepreneurship Development Scheme | 1.25 | 0.45 | - | 0.02 | 1.68 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 18 | CSS for Solar Mission | 0.00* | - | - | - | 0.00* |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 19 | Capital Subsidy Scheme - Agri Clinic Agri | 0.10 | 0.55 | 0.00* | 0.20 | 0.45 |
| | Business Centres | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 20 | CSS MNRE Lighting Scheme 2016 a/c | 1.15 | - | - | - | 1.15 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 21 | Artificial Recharge of Groundwater in Hard | 4.62 | - | - | - | 4.62 |
| | Rock Area | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| B | Other Government Schemes | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 1 | Agriculture Debt Waiver and Debt Relief | 283.94 | - | - | - | 283.94 |
| | Scheme (ADWDR)- 2008 | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 2 | Women's Self Help Groups [SHGs] | 1.21 | - | - | 0.73 | 0.48 |
| | Development Fund | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 3 | Interest Subvention (Sugar Term Loan) | 0.18 | 600.00 | - | 600.04 | 0.14 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 4 | AMI - Workshop Assistance Fund | 0.00* | - | - | - | 0.00* |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 5 | Kutch Drought Proofing Project | 0.22 | - | - | - | 0.22 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 6 | Revival Package for Long Term Cooperative | 20.00 | - | - | 20.00 | - |
| | Credit Structure (LTCCS) | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 7 | Revival Reform and Restructure of | 4.09 | - | - | - | 4.09 |
| | Handloom Sector | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 8 | Comprehensive Handloom Package | - | 0.01 | - | - | 0.01 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 9 | Interest Subvention (SAO, NRLM, NWR) | 224.10 | 11,062.65 | - | 10,720.09 | 566.66 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 10 | Arunachal Agri Start Up Scheme | 0.50 | - | - | - | 0.50 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 11 | Centrally sponsored Project-PACS | 17.48 | 65.55 | 0.22 | 83.22 | 0.03 |
| | Computerisation | | | | | |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| 12 | AgriSURE-GoI | 62.50 | 20.47 | - | 71.11 | 11.86 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| | Total | 723.61 | 11,749.88 | 0.31 | 11,506.69 | 967.11 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
| | Previous year | 1,506.36 | 13,054.41 | 2.02 | 13,839.18 | 723.61 |
+--------+---------------------------------------------+--------------+-------------------+-------------------+-------------------+--------------+
#Refer B-21 of Schedule 18
*Represents an amount less than ₹ 50,000.
Consolidated Schedule 5 - Deposits
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Central Government | - | - |
+--------+---------------------------------------------+--------------+--------------+
| 2 | State Governments | - | - |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Others | | |
| a) | Tea / Rubber / Coffee Deposits | 37.10 | 40.23 |
| b) | Deposits Under RIDF | 2,14,547.05 | 1,94,482.88 |
| c) | Short Term Cooperative Rural Credit Fund | 35,000.00 | 32,079.11 |
| d) | Short Term RRB Credit Refinance Fund | 7,500.00 | 7,023.74 |
| e) | Warehouse Infrastructure Fund | 2,070.00 | 2,870.00 |
| f) | Long Term Rural Credit Fund | 35,678.32 | 38,945.49 |
| g) | Food Processing Fund | 480.00 | 550.00 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 2,95,312.47 | 2,75,991.45 |
+--------+---------------------------------------------+--------------+--------------+
Consolidated Schedule 6 - Bonds and Debentures
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Tax Free Bonds | 3,111.50 | 5,000.00 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Non-Priority Sector Bonds | 2,06,783.00 | 1,86,736.30 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | PMAY-G - GOI Fully Serviced Bonds | 48,809.60 | 48,809.60 |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Bonds - LTIF | 38,160.25 | 38,160.25 |
+--------+---------------------------------------------+--------------+--------------+
| 5 | LTIF- GOI Fully Serviced Bonds | 19,506.80 | 19,506.80 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | SBM(G) - GOI Fully Serviced Bonds | 12,298.20 | 12,298.20 |
+--------+---------------------------------------------+--------------+--------------+
| 7 | Micro Irrigation Fund (MIF) Bonds | 1,754.60 | 1,754.60 |
+--------+---------------------------------------------+--------------+--------------+
| 8 | Social Bonds | 1,040.50 | 1,040.50 |
+--------+---------------------------------------------+--------------+--------------+
| 9 | Infra Bonds | 14,052.87 | 14,060.00 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 3,46,017.32 | 3,27,366.25 |
+--------+---------------------------------------------+--------------+--------------+
Consolidated Schedule 7 - Borrowings
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Central Government | - | - |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Reserve Bank of India | - | - |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Others: | | |
| (A) | In India | | |
| (i) | Certificate of Deposits | 57,123.90 | 37,939.26 |
| (ii) | Commercial Paper | 56,981.23 | 57,386.19 |
| (iii) | CBLO / Tri Party Repo | 59,361.98 | 51,707.99 |
| (iv) | Term Money Borrowings | 4.66 | 10.36 |
| (v) | Term Loan from Banks | 1,40,664.33 | 1,03,869.94 |
| (vi) | JNN Solar Mission | 2.81 | 2.81 |
| (B) | Outside India | | |
| (i) | International Agencies | 1,240.13 | 518.00 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 3,15,379.04 | 2,51,434.55 |
+--------+---------------------------------------------+--------------+--------------+
Consolidated Schedule 8 - Current Liabilities and Provisions
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Interest / Discount Accrued | | |
| (a) | Interest / Discount Accrued on Bond and | 10,335.94 | 9,880.53 |
| | Borrowings | | |
| (b) | Interest Accrued on Deposits | 2,977.07 | 2,320.49 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Sundry Creditors | 86.41 | 188.93 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Subsidy Reserve (Co-finance, Cold Storage, | 29.55 | 7.38 |
| | CSAMI) | | |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Subsidy Reserve | - | 22.32 |
+--------+---------------------------------------------+--------------+--------------+
| 5 | Provision for Gratuity | 45.86 | 23.78 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | Provision for Pension | - | 434.85 |
+--------+---------------------------------------------+--------------+--------------+
| 7 | Provision for Encashment of Ordinary Leave | 468.98 | 396.92 |
+--------+---------------------------------------------+--------------+--------------+
| 8 | Provision for Post-Retirement Medical | 234.27 | 192.17 |
| | Benefit | | |
+--------+---------------------------------------------+--------------+--------------+
| 9 | Unclaimed Interest on Bonds | 4.32 | 4.36 |
+--------+---------------------------------------------+--------------+--------------+
| 10 | Bonds matured but not claimed | 9.93 | 9.83 |
+--------+---------------------------------------------+--------------+--------------+
| 11 | Bond Premium | 310.82 | 80.97 |
+--------+---------------------------------------------+--------------+--------------+
| 12 | Commitment Charges - International | 0.57 | 0.24 |
| | Borrowings | | |
+--------+---------------------------------------------+--------------+--------------+
| 13 | Provisions and Contingencies | | |
| a) | Depreciation in Value of Investment | | |
| (i) | Government securities | | |
| (ia) | Securities of Central & State Government | 1,659.60 | - |
| (ib) | Treasury Bills | - | - |
| (ii) | Other Approved securities | - | - |
| (iii) | Equity shares | - | - |
| (iv) | Debenture and Bonds | 3.56 | 12.04 |
| (v) | Subsidiaries and joint venture | - | - |
| (vi) | Others – Mutual Funds | 8.84 | 9.63 |
| b) | Amortisation of Premium on Securities Held | 6.28 | 6.28 |
| | to Maturity | | |
| c) | For Standard Assets | 3,760.46 | 3,572.61 |
| d) | Non-performing Investments | 222.21 | 300.59 |
| e) | Counter Cyclical Provisioning Buffer / | 2,014.45 | 2,014.45 |
| | Floating Provision | | |
| f) | Provision for Other Assets & Receivables | 6.93 | 125.40 |
| g) | Provision for Income Tax [Net of Advance | 2,877.34 | 2,922.99 |
| | Tax] | | |
+--------+---------------------------------------------+--------------+--------------+
| 14 | Other Liabilities | 3,742.61 | 3,940.55 |
+--------+---------------------------------------------+--------------+--------------+
| 15 | Derivative Liabilities | 7.31 | - |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 28,813.31 | 26,467.31 |
+--------+---------------------------------------------+--------------+--------------+
Note- Non-Performing Advances have been adjusted against the Advances shown in Schedule-11
Consolidated Schedule 9 - Cash and Bank Balances
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Cash in hand | 0.00* | 0.00* |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Balances with | | |
| (A) | Banks in India | | |
| (i) | Reserve Bank of India | 10,026.97 | 6,568.72 |
| (ii) | Other Banks | | |
| a) | In Current Account | 7,671.60 | 4,547.80 |
| b) | Deposit with Banks # | 32,228.14 | 33,910.50 |
| (B) | Banks outside India | - | - |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Tri Party Repo – Lending | - | 999.30 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 49,926.71 | 46,026.32 |
+--------+---------------------------------------------+--------------+--------------+
# includes Short Term Deposits with Banks (with maturity of 3 months and less) of ₹ 12,412.88 crore as on
31.03.2026 (₹ 3,650.00 crore as on 31.03.2025)
*Represents an amount less than ₹ 50,000
Consolidated Schedule 10 - Investments
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Government Securities | | |
| a) | Securities of Central Government & State | 62,812.50 | 53,061.47 |
| | Government | | |
| | [Face Value ₹ 6,19,49,98,00,000 | | |
| | (₹ 5,21,76,90,80,000)] | | |
| b) | Treasury Bills | 15,614.37 | 11,297.96 |
| | [Face Value ₹ 1,61,68,24,70,000 | | |
| | (₹ 1,14,99,23,50,000)] | | |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Other Approved Securities | 5.00 | 5.40 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Equity Shares in : | | |
| (a) | Agricultural Finance Corporation Ltd. | 1.00 | 1.00 |
| | [1,000 (1,000) - Equity shares of ₹ 10,000 | | |
| | each] | | |
| (b) | Small Industries Development Bank of India | 966.28 | 966.28 |
| | [5,31,92,203 (5,31,92,203) - Equity shares of| | |
| | ₹ 10 each] | | |
| (c) | Agriculture Insurance Company of India Ltd. | 60.00 | 60.00 |
| | [6,00,00,000 (6,00,00,000) - Equity shares of| | |
| | ₹ 10 each] | | |
| (d) | Multi Commodity Exchange of India Ltd. | - | 0.30 |
| | [Nil (3,77,758) - Equity shares of ₹ 10 each]| | |
| (e) | National Commodity and Derivatives Exchange | 16.88 | 16.88 |
| | Ltd. | | |
| | [56,25,000 (56,25,000) - Equity shares of ₹ 10| | |
| | each] | | |
| (f) | CSC e-Governance Services India Ltd Equity | 9.75 | 9.75 |
| | [55,000 (55,000) Shares of ₹ 1000 each] | | |
| (g) | Agriculture Skill Council of India | 0.00* | 0.00* |
| | [4,000 (4000) Shares of ₹ 10 each] | | |
| (h) | National E-Goverance Services India Ltd | 1.50 | 1.50 |
| | [Equity] | | |
| | [15,00,000 (15,00,000) Shares of ₹ 10 each] | | |
| (i) | National e-Respository Ltd. | 10.53 | 10.53 |
| | [1,05,30,000 (1,05,30,000) Shares of ₹ 10 | | |
| | each] | | |
| (j) | Open Network for Digital Commerce | 40.00 | 40.00 |
| | [40,00,000 (40,00,000) Shares of ₹ 100 each]| | |
| (k) | Online PSB Loans Limited | 56.76 | 56.76 |
| | [2,87,329 (2,87,329) Shares of ₹10 each] | | |
| (l) | 24x7 Moneyworks Consulting Private Limited | 3.84 | 3.84 |
| | [23,333 (23,333) Shares of ₹10 each] | | |
| m) | Ferbine Private Limited | 0.01 | - |
| | [5,000 (NIL) Shares of ₹10 each] | | |
| (n) | Sahakar Taxi Co-operative Limited | 2.00 | - |
| | [200,000 (NIL) Shares of ₹100 each] | | |
| (o) | North Eastern Development Finance | 121.82 | - |
| | Corporation Ltd | | |
| | [100,00,000 (NIL) Shares of ₹10 each] | | |
| (p) | State Bank of India | 20.02 | 20.02 |
| | [12,79,000 (12,79,000) Shares of ₹ 1 each] | | |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Investment in Associates | | |
| | Sahakar Sarathi Private Limited | | |
| | [33,33,33,334 (NIL) shares of ₹ 10 each] | | |
| | Cost of Investments | 333.33 | - |
| | Add: Post-acquisition Profit / (Loss) | 2.42 | - |
| | (Equity method) | | |
| | Total | 335.75 | - |
+--------+---------------------------------------------+--------------+--------------+
| 5 | Debentures and Bonds | | |
| (a) | Special Development Debentures of SCARDBs | 10.39 | 65.19 |
| | (Refer Note B-10 of Schedule 18) | | |
| (b) | Non-Convertible Debentures | 441.10 | 852.99 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | Others | | |
| (a) | Mutual Fund | 9,800.65 | 6,604.32 |
| (b) | Commercial Paper | 556.46 | 1,453.08 |
| | [Face Value ₹ 5,75,00,00,000 | | |
| | (₹15,00,00,00,000)] | | |
| (c) | Certificate of Deposit | 11,390.05 | 16,100.04 |
| | [Face Value ₹ 1,16,25,00,00,000 | | |
| | (₹1,64,50,00,000)] | | |
| (d) | Venture Capital Funds / AIFs | 658.14 | 575.61 |
| (e) | Investment Earmarked towards EOL | - | 10.94 |
| (f) | Infrastructure Investment Trust (InvITs) | 1.94 | 2.00 |
| (g) | Investment in Securitisation-PTC | 435.67 | 236.65 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 1,03,372.41 | 91,452.51 |
+--------+---------------------------------------------+--------------+--------------+
*Represents an amount less than ₹ 50,000
Consolidated Schedule 11 - Advances
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Refinance Loans | | |
| (a) | Production and Marketing Credit | 1,81,068.83 | 1,69,224.53 |
| (b) | Other Investment Credit | | |
| (i) | Medium Term and Long-Term Project Loans | 2,89,283.02 | 2,52,632.27 |
| (ii) | Direct refinance to DCCBs | 33,785.65 | 27,767.64 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Direct Loans | | |
| (a) | Loans under Rural Infrastructure | 1,98,551.75 | 1,84,724.16 |
| | Development Fund | | |
| (b) | Loans under Warehouse Infrastructure Fund | 1,823.75 | 2,581.85 |
| (c) | Long Term Non-Project Loans | 1,986.02 | 1,687.32 |
| (d) | Loans under NABARD Infrastructure | 53,574.88 | 40,879.33 |
| | Development Assistance (NIDA) | | |
| (e) | Loans under Producers' Organisation | 0.05 | 0.14 |
| (f) | Credit Facility to Federations [CFF] | 53,209.55 | 41,676.56 |
| (g) | Loans under Food Processing Fund | 295.36 | 386.48 |
| (h) | Loans under Long Term Irrigation Fund | 50,238.16 | 51,803.83 |
| (i) | Pradhan Mantri Awas Yojana - Gramin | 48,819.03 | 48,819.03 |
| (j) | Swacch Bharat Mission-Gramin | 12,298.20 | 12,298.20 |
| (k) | Dairy Infrastructure Development Fund (DIDF)| 1,171.10 | 1,366.80 |
| (l) | Loan under Green Climate Fund (GCF) | 544.84 | 517.99 |
| (m) | Micro Irrigation Fund | 3,037.21 | 2,871.83 |
| (n) | Fisheries and Aquaculture Infrastructure | 1,628.81 | 1,141.38 |
| | Development Fund | | |
| (o) | Rural Infrastructure Assistance Scheme | 76.76 | 65.16 |
| | (RIAS) | | |
| (p) | NABARD Green Lending Facility (NGLF) | 1,155.42 | - |
| (q) | Other Loans | | |
| (i) | Watershed Development Fund Programme Loans | 0.45 | 1.66 |
| (ii) | Off Farm Sector Promotion Activities | 0.13 | 0.29 |
| | Programme Loans | | |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 9,32,548.97 | 8,40,446.45 |
+--------+---------------------------------------------+--------------+--------------+
Note - The Advances are net off the provisions for Non-performing Assets amounting to ₹ 2,141.46 crore.
(₹ 2,241.61 crore as on 31.03.2025)
Consolidated Schedule 12 – Property, Plant and Equipment (Fixed Assets)
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | LAND: Freehold & Leasehold (Refer Note B-8 | | |
| | of Schedule 18) | | |
| | Opening Balance | 201.23 | 201.23 |
| | Additions/adjustments during the year | 411.71 | - |
| | Sub-Total | 612.94 | 201.23 |
| | Less: Cost of assets sold/written off | 6.39 | - |
| | Closing Balance (at cost) | 606.55 | 201.23 |
| | Less: Amortisation of Lease Premia | 66.92 | 67.15 |
| | Book Value | 539.63 | 134.08 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | PREMISES (Refer Note B-8 of Schedule 18) | | |
| | Opening Balance | 672.34 | 663.08 |
| | Additions/adjustments during the year | 21.42 | 9.26 |
| | Sub-Total | 693.76 | 672.34 |
| | Less: Adjustments during the year | 1.80 | - |
| | Less: Cost of assets sold/written off | - | - |
| | Closing Balance (at cost) | 691.96 | 672.34 |
| | Less: Depreciation to date | 391.01 | 375.27 |
| | Book Value | 300.95 | 297.07 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | FURNITURE & FIXTURES | | |
| | Opening Balance | 75.73 | 73.37 |
| | Additions/adjustments during the year | 5.68 | 2.55 |
| | Sub-Total | 81.41 | 75.92 |
| | Less: Cost of assets sold/written off | 2.05 | 0.19 |
| | Closing Balance (at cost) | 79.36 | 75.73 |
| | Less: Depreciation to date | 69.37 | 68.30 |
| | Book Value | 9.99 | 7.43 |
+--------+---------------------------------------------+--------------+--------------+
| 4 | COMPUTER INSTALLATIONS & OFFICE EQUIPMENT| | |
| | Opening Balance | 305.64 | 272.63 |
| | Additions/adjustments during the year | 99.45 | 40.63 |
| | Sub-Total | 405.09 | 313.26 |
| | Less: Cost of assets sold/written off | 5.54 | 7.62 |
| | Closing Balance (at cost) | 399.55 | 305.64 |
| | Less: Depreciation to date | 301.81 | 251.63 |
| | Book Value | 97.74 | 54.01 |
+--------+---------------------------------------------+--------------+--------------+
| 5 | VEHICLES | | |
| | Opening Balance | 16.04 | 14.92 |
| | Additions/adjustments during the year | 3.97 | 6.98 |
| | Sub-Total | 20.01 | 21.90 |
| | Less: Cost of assets sold/written off | 4.56 | 5.86 |
| | Closing Balance (at cost) | 15.45 | 16.04 |
| | Less: Depreciation to date | 6.79 | 6.03 |
| | Book Value | 8.66 | 10.01 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | Capital Work in Progress [Including Premises,| 57.01 | 75.12 |
| | Furniture & Fixtures and Software | | |
| | Implementation] | | |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 1013.98 | 577.72 |
+--------+---------------------------------------------+--------------+--------------+
Note - Depreciation to date includes opening depreciation, depreciation on addition & sale and depreciation for
current financial year.
Consolidated Schedule 13 - Other Assets
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
+========+=============================================+==============+==============+
| 1 | Accrued Interest | | |
| (a) | Accrued Interest on Loans and Advances | 4,527.25 | 4,116.96 |
| (b) | Accrued Interest on Investments | 2,156.97 | 1,859.71 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Deposits with Landlords | 4.42 | 3.75 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Deposits with Government Departments and | 47.47 | 54.24 |
| | Other Institutions | | |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Housing loan to staff | 231.87 | 188.47 |
+--------+---------------------------------------------+--------------+--------------+
| 5 | Other Advances to staff | 97.18 | 98.10 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | Sundry Advances | 250.12 | 250.56 |
+--------+---------------------------------------------+--------------+--------------+
| 7 | Deferred Tax Assets (Refer Note B-6 of | 172.28 | 148.66 |
| | Schedule 18) | | |
+--------+---------------------------------------------+--------------+--------------+
| 8 | Receivable from Government of | 1,297.65 | 1,193.46 |
| | India / International Agencies. (Refer Note | | |
| | B-2 and B-4 of Schedule 18) | | |
+--------+---------------------------------------------+--------------+--------------+
| 9 | Discount on Issue of Bonds | 49.42 | 94.98 |
+--------+---------------------------------------------+--------------+--------------+
| 10 | Other Assets - Input Tax Credit (GST) | 20.84 | 7.30 |
+--------+---------------------------------------------+--------------+--------------+
| 11 | Other Asset- FIF Fund Investment * | 2,500.01 | - |
+--------+---------------------------------------------+--------------+--------------+
| 12 | Derivative Assets | 83.28 | - |
+--------+---------------------------------------------+--------------+--------------+
| 13 | Advance towards Pension | 17.52 | - |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 11,456.28 | 8,016.19 |
+--------+---------------------------------------------+--------------+--------------+
*Other Asset- FIF Fund Investment maintained across various banks, which are exclusively
earmarked for the
NABARD Financial Inclusion Fund. These funds are restricted for use solely in accordance with the
Fund‘s guidelines.
Consolidated Schedule 14 - Interest and Financial Charges
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1 | Interest Paid on | | |
| (a) | Deposits under Rural Infrastructure | 7,627.18 | 6,752.89 |
| | Development Fund (RIDF) | | |
| (b) | Short Term Cooperative Rural Credit Fund | 1,662.89 | 1,975.77 |
| (c) | Short Term RRB Credit Refinance Fund | 343.49 | 574.67 |
| (d) | Warehouse Infrastructure Fund | 74.42 | 105.27 |
| (e) | Long Term Rural Credit Fund | 1,540.60 | 1,599.15 |
| (f) | Fund for Food Processing Units | 19.72 | 19.69 |
| (g) | Tea / Coffee / Rubber Deposits | 1.97 | 2.35 |
| (h) | Term Money Borrowings | 0.31 | 39.73 |
| (i) | Bonds | 24,532.00 | 21,322.39 |
| | (Refer Notes B-4 & B-12 of Schedule 18) | | |
| (j) | Term Loans from Banks | 6,351.84 | 6,168.07 |
| (k) | Borrowings from International Agencies | 8.64 | 6.20 |
| (l) | Borrowing against ST Deposit | - | (0.00)* |
| (m) | Discount on Commercial Paper | 1,828.67 | 2,506.68 |
| (n) | Discount on Certificate of Deposits | 2,995.63 | 2,020.56 |
| (o) | Repo Interest Expenditure | 2.58 | 10.58 |
| (p) | Interest on funds | 78.26 | 186.82 |
| (q) | Commitment Fee - International Borrowings | 2.14 | 0.24 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Discount on CBLO / Tri-Party Repo | 1,636.91 | 1,505.68 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Discount, Brokerage, Commission & issue exp.| 59.43 | 76.21 |
| | on Bonds and Securities | | |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Swap Charges | 17.93 | 17.96 |
+--------+---------------------------------------------+--------------+--------------+
| 5 | Derivative/ Hedged Item Fair Valuation | 7.31 | - |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 48,791.92 | 44,890.91 |
+--------+---------------------------------------------+--------------+--------------+
*Represents an amount less than ₹ 50,000
Consolidated Schedule 15 A - Establishment and Other Expenses
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1 | Salaries and Allowances | 955.12 | 1,431.89 |
| | (Refer Note B-21 of Schedule 18) | | |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Contribution to / Provision for Staff | 359.48 | 836.10 |
| | Superannuation Funds | | |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Other Perquisites and Allowances | 266.02 | 310.37 |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Travelling and Other allowances in | 0.39 | 0.42 |
| | connection with Directors' & Committee | | |
| | Members' Meetings | | |
+--------+---------------------------------------------+--------------+--------------+
| 5 | Directors' and Committee Members' Fees | 0.96 | 1.04 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | Rent, Rates, Insurance, Lighting, etc. | 71.68 | 54.58 |
+--------+---------------------------------------------+--------------+--------------+
| 7 | Travelling Expenses | 82.06 | 82.46 |
+--------+---------------------------------------------+--------------+--------------+
| 8 | Printing and Stationery | 8.28 | 9.22 |
+--------+---------------------------------------------+--------------+--------------+
| 9 | Postage, Telegrams and Telephones | 31.29 | 32.93 |
+--------+---------------------------------------------+--------------+--------------+
| 10 | Repairs and Maintenance | 39.31 | 21.47 |
+--------+---------------------------------------------+--------------+--------------+
| 11 | Auditors' Fees | 0.61 | 0.56 |
+--------+---------------------------------------------+--------------+--------------+
| 12 | Legal Charges | 6.28 | 5.41 |
+--------+---------------------------------------------+--------------+--------------+
| 13 | Miscellaneous Expenses | 492.18 | 460.46 |
+--------+---------------------------------------------+--------------+--------------+
| 14 | Expenditure on Miscellaneous Assets | 8.98 | 12.93 |
+--------+---------------------------------------------+--------------+--------------+
| 15 | Expenditure on Study and Training | 133.62 | 115.00 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 2,456.26 | 3,374.84 |
+--------+---------------------------------------------+--------------+--------------+
Consolidated Schedule 15 B - Expenditure on Promotional Activities
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1 | Cooperative Development Fund | 105.25 | 54.55 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Producers Organization Development Fund - | 116.95 | 0.29 |
| | NABARD | | |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Rural Infrastructure Promotion Fund | 2.60 | 3.17 |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Expenditure under Farm Sector Promotion Fund| 15.12 | 21.37 |
+--------+---------------------------------------------+--------------+--------------+
| 5 | Gramya Vikas Nidhi | 37.66 | 57.69 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | Catalytic Capital Fund | 1.83 | 2.52 |
+--------+---------------------------------------------+--------------+--------------+
| 7 | Technology Facilitation Fund | 0.90 | 0.10 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 280.31 | 139.69 |
+--------+---------------------------------------------+--------------+--------------+
Consolidated Schedule 16 - Provisions
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| | Provisions for: | | |
| 1 | Standard Assets | 208.45 | 241.98 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Non-Performing Assets | 167.30 | 151.61 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Non-Performing Investments | (11.44) | 2.00 |
+--------+---------------------------------------------+--------------+--------------+
| 4 | Depreciation in value of Investment Account | - | (8.50) |
| | - Equity | | |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 364.31 | 387.09 |
+--------+---------------------------------------------+--------------+--------------+
Consolidated Schedule 17 - Commitments and Contingent Liabilities
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| Sr. No.| Particulars | As on | As on |
| | | 31.03.2026 | 31.03.2025 |
| | | 31.03.2026 | |
+========+=============================================+==============+==============+
| 1 | Commitments on account of capital contracts | 151.32 | 68.12 |
| | remaining to be executed (Net of Advances) | | |
| | Sub Total "A" | 151.32 | 68.12 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Contingent Liabilities | | |
| (i) | Bank Guarantee | 28.98 | 21.94 |
| (ii) | Claims against the Bank not acknowledged as | 40.52 | 6.00 |
| | debt | | |
| (iii) | Pending legal cases including Income Tax | 415.01 | 415.19 |
| | Appeals | | |
| | Sub Total "B" | 484.51 | 443.13 |
+--------+---------------------------------------------+--------------+--------------+
| | Total (A + B) | 635.83 | 511.25 |
+--------+---------------------------------------------+--------------+--------------+
Consolidated Cash Flow Statement for the year ended 31 March 2026
(Amount in ₹ crore)
+---------------------------------------------------+--------------+--------------+
| Particulars | 2025-26 | 2024-25 |
+===================================================+==============+==============+
| (a) Cash flow from Operating activities | 9,564.83 | 10,436.51 |
| Net Profit as per Profit and Loss Accounts before | | |
| tax | | |
| Adjustment for: | | |
| Depreciation and Amortisation on Fixed Assets | 80.13 | 62.70 |
| Provision for Non-Performing Assets | 155.86 | 153.61 |
| Provision for Standard Assets | 208.44 | 241.98 |
| Depreciation in value of Investment Account - | - | (8.50) |
| Equity | | |
| Profit / (Loss) on sale of Fixed Assets | 1.14 | (1.11) |
| Interest credited to various Funds | 105.56 | 188.99 |
| Income from Investments | (5,836.74) | (5,850.64) |
| Amortization of Premium on Bonds | (107.01) | (16.80) |
| Operating profit before changes in operating | 4,172.21 | 5,206.74 |
| assets | | |
| Adjustment for changes in working capital : | | |
| (Increase) / Decrease in Current Assets | 7,071.19 | (8,451.28) |
| Increase / (Decrease) in Current Liabilities | 2,128.57 | 1,510.13 |
| (Increase) / Decrease in Loans and Advances | (92,531.11) | (44,239.49) |
| Cash generated from operating activities | (79,159.14) | (45,973.90) |
| Income Tax paid (Net of refund) | (2,285.10) | (2,613.77) |
| Net cash flow from operating activities (A) | (81,444.24) | (48,587.67) |
| (b) Cash flow from Investing activities | | |
| Purchase of Investments (net of sale of | (11,974.65) | (22,024.88) |
| Investments) | | |
| Income from Investments | 5,836.74 | 5,850.64 |
| Purchase of Fixed Assets | (524.12) | (77.64) |
| Sale of Fixed Assets | 7.05 | 2.81 |
| Net cash used / generated from investing activities| (6,654.98) | (16,249.07) |
| (B) | | |
| (c ) Cash flow from financing activities | | |
| Grants / contributions received | 528.61 | (1,045.19) |
| Proceeds from Bonds (net of repayment) | 18,651.07 | 41,273.43 |
| Proceeds from Borrowings (net of repayment) | 64,943.80 | 56,652.15 |
| Proceeds from Deposits (net of repayment) | 19,321.03 | (25,966.62) |
| Withdrawal/Addition to Reserve Fund | 0.00* | - |
| Dividend paid during the year | (0.37) | (6.61) |
| Net cash raised from financing activities (C) | 1,03,444.14 | 70,907.16 |
| Net increase in cash and cash equivalents (A) + | 15,344.92 | 6,070.42 |
| (B) + (C) | | |
| Cash and Cash equivalents at the beginning of the | 14,766.52 | 8,696.10 |
| year | | |
| Cash and Cash equivalents at the end of the year | 30,111.44 | 14,766.52 |
+---------------------------------------------------+--------------+--------------+
+---------------------------------------------------+--------------+--------------+
| 1. Cash and cash equivalents at the end of the | 2025-26 | 2024-25 |
| year includes: | | |
+===================================================+==============+==============+
| Cash in hand | - | - |
+---------------------------------------------------+--------------+--------------+
| Balance with Reserve Bank of India | 10,026.97 | 6,568.72 |
+---------------------------------------------------+--------------+--------------+
| Balances with other Banks in India | 7,671.59 | 4,547.80 |
+---------------------------------------------------+--------------+--------------+
| Short Term Deposits with Banks (with maturity of | 12,412.88 | 3,650.00 |
| 3 months and less) | | |
+---------------------------------------------------+--------------+--------------+
| Total | 30,111.44 | 14,766.52 |
+---------------------------------------------------+--------------+--------------+
*Represents amount of less than ₹1.00 Lakh
Note: The above Cash Flow Statement has been prepared under the Indirect Method as set out in AS-3
―Cash Flow Statements‖.
As per our attached report of even date
For Suresh Surana & Associates LLP
Chartered Accountants
Firm Registration No.: 121750W/W100010
For and on behalf of the Board of Directors
Ramesh Gupta
Partner
Membership No.: 102306
Accounts Department
Mumbai
Date: 26 May 2026
Goverdhan Singh Rawat
Deputy Managing Director
Dr. Shaji Krishnan V
Chairman
R Inigo Arul Selvan
Chief General Manager & Secretary
Mumbai
26 May 2026
SCHEDULE 18
SIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART OF THE CONSOLIDATED
FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2026
A. SIGNIFICANT ACCOUNTING POLICIES
1. Basis of Preparation:
The financial statements are prepared on the historical cost convention and comply with all
material aspects contained in the National Bank for Agriculture and Rural Development Act, 1981
and Regulations thereof, applicable Accounting Standards (AS) issued by the Institute of
Chartered Accountants of India (ICAI) and regulatory norms prescribed by the Reserve Bank of
India (RBI). Except otherwise mentioned, the accounting policies have been consistently applied
by the National Bank for Agriculture and Rural Development (the Bank / NABARD) and are
consistent with those used in the previous year.
2. Use of Estimates:
Preparation of financial statements in conformity with the Generally Accepted Accounting
Principles (GAAP) requires the management to make estimates and assumptions that affect
reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of the operations for the reporting period. Although these
estimates are based on the management‘s best knowledge, the actual results could differ from
these estimates. Such differences are recognized in the year of outcome of such results.
3. Revenue recognition:
3.1 Income and expenditure are accounted on accrual basis, except the following, which are
accounted on cash basis:
i) Interest on non-performing assets identified as per RBI guidelines.
ii) Income by way of penal interest charged due to delayed receipt of loan dues or non–
compliance with terms of loan.
iii) Service Charges on loans given out of various Funds.
iv) Expenses not exceeding ₹ 10,000/- at each accounting unit, under a single head of
expenditure.
3.2 Discount on Bonds and Commercial Papers issued are amortized over the tenure of bonds and
commercial papers. Issue expenses relating to the floatation of bonds, including applicable stamp
duty, are recognized as expenditure in the year of issue of bonds.
3.3 Dividend on investments is accounted for, when the right to receive the dividend is established.
3.4 i) Income from Venture Capital funds is accounted on realization basis.
ii) Release of subsidy in which NABARD is acting as a pass through agency is accounted for,
including service charges thereon, on payment basis subject to availability of funds under the
respective schemes.
3.5 Recovery in non-performing assets (NPA) is appropriated in the following order:
i) Penal interest
ii) Cost and charges
iii) Overdue interest and interest
iv) Principal
3.6 In case of Compromise and Resolution/ Settlement, recovery shall be appropriated as per the
terms of respective compromise/ resolution settlement.
3.7 In case of suit filed/decreed accounts, recovery shall be appropriated as under:-
i) As per the directives of the concerned Court.
ii) In the absence of specific directives from the Court, as mentioned at point 3.5 above.
4. Property Plant and Equipment (Fixed Assets)
4.1 Fixed assets are stated at cost of acquisition, less accumulated depreciation and impairment
losses, if any. The cost of assets includes taxes, duties, freight and other incidental expenses
related to the acquisition and installation of the respective assets. Subsequent expenditure
incurred on existing asset is capitalized, only when it increases the future benefit from the
existing assets beyond its previously assessed level of performance.
4.2 Land includes freehold and leasehold land.
4.3 Premises include value of land, where segregated values are not readily available.
4.4 Depreciation policy on premises situated on freehold land and leasehold land has been revised
during the FY 2017-18 and calculated on straight line basis over the period of 30 years.
4.5 The upfront lease premium paid on leasehold land are amortized over the tenure of lease period
@ 5% on opening written down value or the proportionate amount of remaining lease premium
on the remaining period of lease, whichever is higher.
4.6 Fixed Assets individually costing ₹ 1 lakh or less (except easily portable electronic assets such as
laptops, mobile phones, etc.) are charged to the Profit and Loss Account in the year of
acquisition. Easily portable electronic assets such as laptops, mobile phones, etc., are capitalized,
if individual cost of the items is more than ₹ 10,000. All software costing ₹ 1 lakh each and less,
purchased independently are charged to the Profit and Loss Account.
4.7 Depreciation on other fixed assets is charged over the estimated useful life of the assets
ascertained by the management at the following rates on Straight Line Method basis:
+--------------------------+-------------------+
| Type of Assets | Depreciation Rate |
+==========================+===================+
| Furniture and Fixtures | 20% |
+--------------------------+-------------------+
| Computer & Software | 33.33% |
+--------------------------+-------------------+
| Office Equipment | 20% |
+--------------------------+-------------------+
| Vehicles | 20% |
+--------------------------+-------------------+
4.8 Depreciation is charged from the month in which the asset is capitalized in the year of purchase
up to the month in which the asset is sold in the year of sale.
4.9 Capital work in progress includes capital advances and is disclosed under Fixed Assets.
5. Investments
5.1 The transactions in Securities are recorded on ―Settlement Date‖.
5.2 In accordance with the RBI guidelines, Investments are classified into ―Held for Trading‖ (HFT),
―Available for Sale‖ (AFS) and ―Held to Maturity‖ (HTM) categories (hereinafter called
―categories‖).
5.3 Securities that are held principally for resale within 90 days from the date of purchase are
classified as ―HFT‖. Investments that the Bank intends to hold till maturity are classified as
―HTM‖. Securities which are not to be classified under any of the above categories are classified
as ―AFS‖.
5.4 Investments classified under HTM category are carried at acquisition cost, wherever cost is
equivalent to face value or less. If cost is more than the face value, the premium is amortized over
the period remaining to maturity. Provision for diminution, other than temporary, in the value of
investments in subsidiaries and joint ventures under the category ―HTM‖ is made, wherever
necessary. Provision for diminution/ amortization, in value of such investments, is included under
Current Liabilities and Provisions.
5.5 Profit on redemption of investment categorized under ―HTM‖ is recognized in Profit and Loss
Account.
5.6 Investments under ―AFS‖ are marked to market, scrip-wise, at the rate, declared by the Fixed
Income Money Market and Derivative Association of India (FIMMDA) and by the Financial
Benchmarks India Pvt. Ltd. Net depreciation, if any, is provided for investments in the category
classified as ―AFS‖ and appreciation is ignored. The book values of the individual scrip are not
changed after such revaluation.
5.7 Investments under ―HFT‖ are marked to market, scrip-wise, at the rate, declared by Fixed Income
Money Market and Derivative Association of India (FIMMDA) and by Financial Benchmarks
India Pvt. Ltd., AMFI etc. Net depreciation, if any, is provided for investments in the category
classified as ―HFT‖ and appreciation is ignored. The book values of the individual scrip are not
changed after such revaluation.
5.8 Investments in subsidiaries, joint ventures and associates are classified as Held to Maturity.
5.9 Treasury Bills, Commercial Papers and Certificates of Deposits are valued at carrying cost.
5.10 Unquoted Shares are valued at breakup value, if the latest Audited Financial Statements of the
investee companies are available, or at ₹ 1/- per Company as per RBI guidelines.
5.11 Brokerage, commission, etc. paid in respect of investments including unlisted equities, at the time
of acquisition, are charged to revenue.
5.12 Brokerage, paid on acquisition / disposal of equities traded on stock exchange is capitalized.
5.13 Broken period interest paid/received on debt investments is treated as interest expenses/ income
and is excluded for cost/ sale consideration.
5.14
+--------+------------------+------------------+---------------------------------------------+
| Sr. No.| Existing | Proposed | Accounting policy |
| | category | category | |
+========+==================+==================+=============================================+
| 1. | AFS / HFT | HTM | Lower of book value or market value. |
| | | | In cases where the market value is lower than |
| | | | the book value, the provision for depreciation|
| | | | held against the security (including the |
| | | | additional provision, if any, required based |
| | | | on valuation done on the date of transfer) |
| | | | shall be adjusted to reduce the book value to |
| | | | the market value and the security shall be |
| | | | transferred at the market value. |
+--------+------------------+------------------+---------------------------------------------+
| 2. | HTM | AFS / HFT | Transfer at book value / amortised cost. |
| | | | Such Securities shall be immediately re- |
| | | | valued consequent to transfer and resultant |
| | | | depreciation, if any, shall be provided. |
+--------+------------------+------------------+---------------------------------------------+
| 3. | AFS/HFT | HFT/AFS | Transfer at book value. |
| | | | Securities need not be re-valued on the date |
| | | | of transfer and the provisions for the |
| | | | accumulated depreciation, if any, held shall |
| | | | be transferred to the provisions for |
| | | | depreciation against the HFT securities and |
| | | | vice-versa. |
+--------+------------------+------------------+---------------------------------------------+
5.15 Amortization/Gain/Loss on Revaluation of Government Securities is charged to
Profit and Loss Account.
5.16 Weighted average cost method has been followed for accounting for investments.
5.17 Investments in Venture Capital Funds are accounted as per the accounting policy adopted by the
respective Fund.
5.18 Investments are subject to appropriate provisioning/ de-recognition of income, in line with the
IRAC norms issued by the Reserve Bank of India. The depreciation/provision in respect of non performing securities is not set off against the appreciation in respect of the other performing
securities.
If any credit facility availed by an entity is NPA in the books of the Bank, investment in any of
the securities issued by the same entity would also be treated as NPI and vice versa.
In case of securities i.e. bonds, debentures, etc. where the credit facilities are availed by the
borrowers, the provision has been made on the basis of YTM or IRAC norms whichever is
higher.
5.19 The securities sold and purchased under Repo/ Reverse Repo are accounted as Collateralized
lending and borrowing transactions. However, securities are transferred as in the case of normal
outright sale/purchase transactions and such movement of securities is reflected using the
Repo/Reverse Repo Accounts and Contra entries. The above entries are reversed on the date of
maturity. Costs and revenues are accounted as interest expenditure/income, as the case may be.
6. Foreign Currency Transactions
Accounting for transactions involving foreign exchange is done in accordance with AS-11 on
―The Effects of Changes in Foreign Exchange Rates‖, issued by the ICAI.
6.1 Foreign currency transactions are recorded in the books of account in respective foreign
currencies at the exchange rate prevailing on the date of transaction. Contingent liability in
respect of outstanding forward exchange contracts is calculated at the contracted rates of
exchange and in respect of guarantees; acceptances, endorsements and other obligations are
calculated at the closing exchange rates notified by Foreign Exchange Dealers‘ Association of
India (‗FEDAI‘)/Bloomberg.
6.2 Monetary foreign currency assets and liabilities are translated at closing exchange rates notified
by FEDAI/Bloomberg and the resulting gains / losses are recognised in the profit and loss
account. The revaluation difference on foreign currency and Letters of Comfort (LoC) is adjusted
and recorded in a special account opened and maintained for managing exchange risk.
7. Accounting for Hedges/Derivatives (Refer Note B-11 of Schedule 18)
7.1 Hedges executed by the bank are accounted as per the Board approved policy drawn in line with
the applicable accounting standards and guidance notes thereto, having regard to the terms and
conditions of the agreement
7.2 The Bank has adopted requirements of the Guidance Note on Accounting for Derivative
Contracts (Revised 2021) issued by the Institute of Chartered Accountants of India. The Bank
presents its derivative assets and liabilities as separate line items. The Bank do make adjustments
to the carrying value of its liability in compliance with the hedge accounting requirements of the
said Guidance Note.
8. Advances and Provisions thereon
8.1 Advances are classified as per the IRAC norms issued by the RBI. Provision for standard assets
and non–performing assets is made in respect of identified advances, based on a periodic review
and in conformity with the IRAC norms issued by the RBI.
8.2 In case of restructuring/ rescheduling of advances, the difference between the present value of
future principal and interest as per the original agreement and the present value of future principal
and interest as per the revised agreement is provided for.
8.3 Advances are stated net of provisions towards Non-performing Advances.
8.4 Provision for Non-Performing Loans in respect of loans granted out of funds are charged to the
Profit and Loss account.
8.5 In addition to the specific provision on NPAs, general provisions are also made towards standard
assets as per extant RBI Guidelines. These provisions are reflected in Schedule 8 of the Balance
Sheet under the head ―Current Liabilities & Provisions‖ and are not considered for arriving at the
Net NPAs.
9. Employee Benefits
All personnel transferred from RBI are considered as employees of the Bank and provisions for
Employee Benefits are made accordingly. Actuarial valuation, wherever required, for long term
employee benefits are carried out at each balance sheet date.
9.1 Short Term Employee Benefits:
The undiscounted amount of short-term employee benefits, which are expected to be paid in
exchange for the services rendered by employees are recognised during the period when the
employee renders the service.
9.2 Post-Retirement Benefits:
i) Defined Contribution Plan
The Bank has introduced a New Pension Scheme (NPS) for all the officers/employees who
have joined the services of the Bank on or after 01 January 2012. The Bank has adopted the
―NPS- Corporate Sector Model‖, a defined contribution plan, as formulated by the Pension
Fund Regulatory and Development Authority (PFRDA). Contribution to the Fund is made on
accrual basis.
ii) Defined Benefit Plan
a. Provision for gratuity is made based on actuarial valuation, made at the end of each financial
year based on the projected unit credit method in respect of all eligible employees. The
scheme is funded by the Bank and is managed by a separate trust. Actuarial gain or loss are
recognised in the Profit and Loss Account on accrual basis.
b. Provision for pension is made based on actuarial valuation, in respect of all eligible employees
who joined the Bank on or before 31 December 2011. The scheme is funded by the Bank and
is managed by a separate trust. Actuarial gain or loss are recognised in the Profit and Loss
Account on accrual basis.
iii) Other Long Term benefits
All eligible employees of the bank are entitled for compensated absences and post-retirement
medical benefits. The cost of providing these long term benefits is determined using the
projected unit credit method based on actuarial valuations being carried out at each balance
sheet date. Actuarial gain or loss are recognised in the Profit and Loss Account on accrual
basis.
10. Taxes on Income
10.1 Tax on income for the current period is determined on the basis of taxable income and tax credits
computed, in accordance with the provisions of Income Tax Act, 1961 and based on expected
outcome of assessments/ appeals.
10.2 Deferred tax is recognized, on timing difference, being the difference between taxable income
and accounting income for the year and quantified, using the tax rates and laws that have been
enacted or substantively enacted, as on Balance Sheet date.
10.3 Deferred tax assets relating to unabsorbed depreciation/ business losses are recognised and
carried forward to the extent that there is virtual certainty that sufficient future taxable income
will be available against which, such deferred tax assets can be realized.
10.4 Tax paid/ provided on taxable income earned by the funds are accounted as expenditure of
respective funds.
11. Segment Reporting
11.1 The Bank recognizes the Business segment as the Primary reporting segment in accordance with
the RBI guidelines and in compliance with the Accounting Standard 17 issued by ICAI.
11.2 Segment revenue includes interest and other income directly identifiable with / allocable to the
segment. Income, which relates to Bank as a whole and not allocable to segments is included
under "Other Unallocable Bank Income‖.
11.3 Expenses that are directly identifiable with/ allocable to segments are considered for determining
the segment result. The expenses, which relate to the Bank as a whole and not allocable to
segments, are included under "Other Unallocable Expenditure".
11.4 Segment assets and liabilities include those directly identifiable with the respective segments.
Unallocable assets and liabilities include those that relate to the Bank as a whole and not allocable
to any segment.
12. Impairment of Assets
12.1 As at each balance sheet date, the carrying amount of assets having the indication of impairment
is tested for impairment so as to determine:
i) the provision for impairment loss, if any, required; or
ii) the reversal, if any, required for impairment loss recognized in the previous periods.
12.2 Impairment loss is recognized when the carrying amount of an asset exceeds recoverable amount.
13. Provisions, Contingent Liabilities and Contingent Assets (AS-29)
13.1 Provisions are recognised for liabilities that can be measured only by using substantial degree of
estimation if:
a) the Bank has a present obligation as a result of a past event;
b) a probable outflow of resources is expected to settle the obligation; and
c) the amount of the obligation can be reliably estimated.
13.2 Contingent liability is disclosed in the case of:
a) a possible obligation arising from past events, when it is not probable that an outflow of
resources will be required to settle the obligation,
b) a present obligation when no reliable estimate is possible, and
c) a possible obligation arising from past events where the probability of outflow of resources is
remote.
13.3 Contingent assets are neither recognized, nor disclosed.
13.4 Provisions and contingent liabilities are reviewed at each Balance Sheet date.
14. Cash and cash equivalents
a) Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank, cash
in hand and other short-term investments.
b) Cash Flow statement is reported using Indirect method. The cash flow from operating,
financing and investing activity is segregated based on the available information.
15. Prior Period Income/ Expenses
Items of Income/ Expenditure which are prior period in nature are disclosed separately only
when the individual prior period income / expense exceeds 0.5% of gross income.
16. Implementation of Indian Accounting Standards (Ind AS)
In terms of the Press Release No. 11/10/2009 CL-V dated 18 January 2016 issued by the MCA,
the bank would be required to prepare Ind AS based financial statements for accounting periods
beginning from April 1, 2018 onwards, with comparatives for the periods ending March 31, 2018
and thereafter. The implementation of Ind AS by AIFIs has since been deferred by Reserve Bank
of India until further notice.
B. NOTES FORMING PART OF THE CONSOLIDATED FINANCIALSTATEMENTS
1. NABARD is acting as a banker/ custodian/ trustee on behalf of GOI/ RBI/ Other entities and is
holding the following funds, pending 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. Interest on unutilized balances has been credited to the following funds as per the
respective agreements/ as approved by the management/ Board of Directors. The details of rate of
interest for respective funds are as under:
+--------+---------------------------------------------+-------------------+-------------------+
| S. No.| Name of the Fund | Rate of Interest | Rate of Interest |
| | | for 2025-26 | for 2024-25 |
+========+=============================================+===================+===================+
| 1. | Watershed Development Fund | 2.5% | 3% |
+--------+---------------------------------------------+-------------------+-------------------+
| 2. | National Adaptation Fund for Climate change | 2.5% | 0% |
+--------+---------------------------------------------+-------------------+-------------------+
| 3. | Tribal Development Fund | 2.5% | 3% |
+--------+---------------------------------------------+-------------------+-------------------+
| 4. | Financial Inclusion Fund | 0% | 3% |
+--------+---------------------------------------------+-------------------+-------------------+
| 5. | Climate Change - (AFB) - Project | 2.5% | 3% |
| | Formulation Grant | | |
+--------+---------------------------------------------+-------------------+-------------------+
| 6. | LTIF Interest Fluctuation Reserve Fund | 2.5% | 3% |
+--------+---------------------------------------------+-------------------+-------------------+
| 7 | Producer Organisation Development | 2.5% | 3% |
| | Fund-Interest Differential | | |
+--------+---------------------------------------------+-------------------+-------------------+
| 8. | Climate Change Fund -Interest Differential | 2.5% | 3% |
+--------+---------------------------------------------+-------------------+-------------------+
| 9 | GCF Project Grants | 2.5% | 3% |
+--------+---------------------------------------------+-------------------+-------------------+
| 10 | Cattle Development Fund (UP & Bihar) | 4.38% | 7.83% |
+--------+---------------------------------------------+-------------------+-------------------+
| 11 | Multi Activity Approach For Poverty | 4.38% | 7.83% |
| | Alleviation (Sultanpur and Rae Bareilly) | | |
+--------+---------------------------------------------+-------------------+-------------------+
| 12 | Center for Professional Excellence in | 4.38% | 7.83% |
| | Co-operatives. | | |
+--------+---------------------------------------------+-------------------+-------------------+
| 13 | AgriSURE-GoI Fund | 2.5% | 0% |
+--------+---------------------------------------------+-------------------+-------------------+
| 14 | Capacity Building Fund For Social Stock | 2.5% | 0% |
| | Exchange | | |
+--------+---------------------------------------------+-------------------+-------------------+
2. Recoverable from Government of India/ International Agencies (Refer Schedule-13 of Balance
Sheet) includes ₹ 1.08 crore (₹ 2.00 crore) being debit balance of various funds.
The details of such funds are as under:
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| S. No.| Name of the Fund | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1 | KfW- Soil Project | 0.00 | 0.92 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | NAFCC | 1.08 | 1.08 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 1.08 | 2.00 |
+--------+---------------------------------------------+--------------+--------------+
3. ₹ 236.41 crore included in Schedule 8 ―Current Liabilities‖ is the interest differential available to
the Bank in respect of Rural Infrastructure Development Fund (RIDF) deposits, Warehousing
Infrastructure Fund (WIF) deposits and Food Processing Fund (FPF), placed by various banks is
credited to the funds in pursuance to directions issued by RBI. However, no such directions has
been received for the year 2025-26 till the date of the report. As and when received, it will be
apportioned as per the RBI directions.
4. Interest Subvention received/ receivable from Government of India (GOI) under various schemes
has been adjusted from Interest and financial charges under Schedule 14. The amount of Interest
subvention adjusted under different schemes is given below:
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| S. No.| Scheme | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1 | Long Term Irrigation Fund | 548.74 | 567.95 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Seasonal Agricultural Operations (SAO) | (86.80) | 140.96 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Dairy Infrastructure Development Fund (DIDF)| 29.97 | 34.72 |
+--------+---------------------------------------------+--------------+--------------+
| 4 | National Rural Livelihood Mission (NRLM) | 161.15 | 126.07 |
+--------+---------------------------------------------+--------------+--------------+
| 5 | Micro Irrigation Fund (MIF) | 85.11 | 87.68 |
+--------+---------------------------------------------+--------------+--------------+
| 6 | Fisheries and Aquaculture Infrastructure | 36.65 | 25.85 |
| | Development Fund (FIDF) | | |
+--------+---------------------------------------------+--------------+--------------+
5. Interest Margin on providing refinance under interest subvention scheme to StCBs, RRBs and to
CCBs, Public Sector Banks for financing Primary Agriculture Co-operative Societies (PACS) for
Seasonal Agricultural Operations and under NRLM scheme has been accounted as interest
income. The amount received/ receivable from GOI under scheme stood at ₹ 88.05 crore (₹
115.09 crore).
6. The Bank recognizes deferred tax asset / liability on timing differences in accordance with AS 22
―Accounting for taxes on Income‖. During the year, the Bank has recognized deferred tax
expense (charge) of ₹ 24.23 crore (₹ 59.73 crore). in the Profit and Loss Account. The details of
total deferred tax assets as on 31.03.2026 are as under:
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| S. No.| Deferred Tax Assets | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1 | Provision allowable on payment basis | 121.95 | 102.46 |
+--------+---------------------------------------------+--------------+--------------+
| 2 | Depreciation on Fixed Assets | 16.75 | 13.70 |
+--------+---------------------------------------------+--------------+--------------+
| 3 | Others | 33.58 | 32.50 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | 172.28 | 148.66 |
+--------+---------------------------------------------+--------------+--------------+
Provision for Deferred Tax on account of Special Reserve created u/s 36(1)(viii) of the Income
Tax Act, 1961, is not considered necessary, as the Bank has decided not to withdraw the said
reserve.
As the loan book is growing year on year, Provision on Standard Assets is required to be created
every year in line with the RBI Prudential Norms. Therefore, in accordance with the principles
laid down in AS-22, the Bank does not recognise Deferred Tax Asset on account of Provision on
Standard Assets, as there is no reasonable certainty of their realisation.
7. The details of pending Income Tax Appeals with various authorities at the end of FY 2025-26 are
given below:
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| S. No.| Assessment | Authority where | Appeal | Amount of tax | Amount of tax |
| | Year | Appeal is pending | preferred | in dispute | in dispute |
| | | | by | as on 31-03- | as on 31-03- |
| | | | | 2026 | 2025 |
| | | | | (₹ Crore) | (₹ Crore) |
+========+===================+===================+===================+===================+===================+
| 1 | 2002-03 | High Court – Mumbai| IT Dept. | 415.00 | 415.00 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 2 | 2006-07 | High Court – Mumbai| IT Dept. | 217.85 | 217.85 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 3 | 2007-08 | High Court – Mumbai| IT Dept. | 88.56 | 88.56 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 4 | 2008-09 | High Court – Mumbai| IT Dept. | 118.77 | 118.77 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 5 | 2009-10 | High Court – Mumbai| IT Dept. | 194.82 | 194.82 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 6 | 2010-11 | High Court – Mumbai| NABARD | 28.20 | 28.20 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 7 | 2010-11 | High Court – Mumbai| IT Dept. | 215.32 | 215.32 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 8 | 2011-12 | High Court – Mumbai| NABARD | 51.03 | 51.03 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 9 | 2012-13 | High Court – Mumbai| NABARD | 45.63 | 45.63 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 10 | 2013-14 | High Court – Mumbai| NABARD | 1.70 | 1.70 |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 11 | 2012-13 | Income Tax Appellate| NABARD | 25.55 | -- |
| | | Tribunal (ITAT) | | | |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 12 | 2022-23 | Income Tax Appellate| IT Dept. | 147.78 | -- |
| | | Tribunal (ITAT) | | | |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 13 | 2023-24 | Income Tax Appellate| IT Dept. | 72.20 | -- |
| | | Tribunal (ITAT) | | | |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 14 | 2016-17 | Commissioner of | NABARD | 407.23 | 407.23 |
| | | Income Tax | | | |
| | | (Appeals) | | | |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 15 | 2017-18 | Commissioner of | NABARD | 360.69 | 360.69 |
| | | Income Tax | | | |
| | | (Appeals) | | | |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 16 | 2018-19 | Commissioner of | NABARD | 278.52 | 278.52 |
| | | Income Tax | | | |
| | | (Appeals) | | | |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
| 17 | 2022-23 | Commissioner of | NABARD | -- | 182.64 |
| | | Income Tax | | | |
| | | (Appeals) | | | |
+--------+-------------------+-------------------+-------------------+-------------------+-------------------+
8. Free hold land and Lease hold Land and Premises include ₹ 12.56 crore (₹ 11.85 crore) paid
towards Office Premises and Staff Quarters for which conveyance is yet to be completed.
9. In the opinion of the Bank‘s management, there is no impairment to assets to which AS 28 –
―Impairment of Assets‖ applies requiring any provision.
10.Pursuant to the directives of RBI, the project loans provided to State Co-operative Agriculture and
Rural Development Banks (SCARDBs) by way of subscription to the Special Development
Debentures (SDDs) floated by these agencies, are treated as under:
a) Classified as Investments and shown in Schedule – 10 under the head ‗Debenture and Bonds‘.
b) Interest earned on the same is shown as a part of ‗Interest received on Loans and Advances‘ in
the Profit and Loss Account, treating them as ‗Deemed Advances‘.
c) ‗Deemed Advances‘ for the purpose of IRAC norms, capital adequacy and computation of
ratios etc.
11.As on the date of the financial statements, out of the disbursement extended to various State
Governments under RIDF, ₹ 789.39 crore (₹633.71 crore) pertains to projects yet to be grounded
under ongoing Tranches (XXVII to XXXI) towards mobilisation advance. Pending receipt of the
proposal from the State Government for adjustment of the amount with the respective/ other
projects, the amount has been classified as disbursement from the fund.
12. In terms of Central Board of Direct Taxes, Ministry of Finance notification dated 18 February
2016, NABARD was allowed to raise tax free bonds having benefits under section10(15)(iv)(h) of
the Income Tax Act 1961 amounting to ₹ 5,000 crore. Accordingly, ₹ 1,500 crore repayable in 10
year tenure was mobilized through Private Placement and ₹ 3,500 crore repayable in 10 & 15 year
tenure was mobilized through public issue. The tax free bonds are in the nature of secured,
redeemable and non-convertible bonds. These bonds are secured against pari passu charge on
property situated in Mumbai and also first charge on specified book debts of NABARD. The
interest charge to revenue pertaining to these bonds for the current year is ₹ 354.41 crore (₹
365.07 crore). The details of the debenture Trustee is: Axis Trustee Services Limited, The Ruby,
2
nd Floor, SW, 29, Senapati Bapat Marg, Dadar West, Mumbai – 400028 Telephone: +91 22 6230
0451
13. In terms of RBI (AIFIs-Classification, Valuation and Operation of Investment Portfolio)
Directions, 2025 dated 28 November 2025 relating to Prudential Guidelines on Investment in
Venture Capital Fund, an amount of ₹ 180.24 crore (₹ 20.98 crore) invested in the units of AIF
was shifted from HTM category to AFS category, on completion of 3 years.
14.(a) Investments in Government securities include the following securities pledged with
Clearing Corporation of India Limited as collateral security for borrowings:
(Amount in ₹ crore)
+---------------------------------------------+--------------+--------------+
| Particulars | Face Value | Book Value |
+=============================================+==============+==============+
| Pledged for Business Segment (Securities) | 300.00 | 304.54 |
| | (237.00) | (237.69) |
+---------------------------------------------+--------------+--------------+
| Pledged for Business Segment (CBLO / Tri | 67,024.29 | 90,031.65 |
| Party Repo) | (56,100.51) | (68,247.12) |
+---------------------------------------------+--------------+--------------+
| Pledged for Business Segment (Securities) | 50.00 | 51.75 |
| Default Fund | (50.00) | (51.75) |
+---------------------------------------------+--------------+--------------+
| Pledged for Business Segment (CBLO / Tri | 50.00 | (51.75) |
| Party Repo) – Default Fund | (50.00) | (51.75) |
+---------------------------------------------+--------------+--------------+
(b) Investments in Government securities include the following securities pledged with Reserve
of India as collateral security for Intra Day Limit:
(Amount in ₹ crore)
+---------------------------------------------+--------------+--------------+
| Particulars | Face Value | Book Value |
+=============================================+==============+==============+
| Pledged for Intra Day Limit (Securities) | 5,168.17 | 5,358.42 |
| | (5,168.17) | (5,396.34) |
+---------------------------------------------+--------------+--------------+
15. Provisions on Standard Assets
(Amount in ₹ crore)
+---------------------------------------------------+--------------+--------------+
| Particulars | 2025-26 | 2024-25 |
+===================================================+==============+==============+
| Provisions towards Standard Assets made during the| 208.45 | 241.98 |
| year | | |
+---------------------------------------------------+--------------+--------------+
| Total Provision towards standard asset | 3,760.46 | 3,572.61 |
| outstanding as on March 31,2026 | | |
+---------------------------------------------------+--------------+--------------+
16. (i) Floating Provision:
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| S. No.| Particulars | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| (a) | Opening balance in the floating provision | 2,000.00 | 2,000.00 |
| | account | | |
+--------+---------------------------------------------+--------------+--------------+
| (b) | The quantum of provisions made during the | 0.00 | 0.00 |
| | accounting year # | | |
+--------+---------------------------------------------+--------------+--------------+
| (c) | Amount of drawdown made during the | 0.00 | 0.00 |
| | accounting year | | |
+--------+---------------------------------------------+--------------+--------------+
| (d) | Closing balance in the floating provision | 2,000.00 | 2,000.00 |
| | account | | |
+--------+---------------------------------------------+--------------+--------------+
# The Board of Directors of the Bank decided to create floating provisions, in accordance with
RBI guidelines, to be utilized for any unexpected or exceptional circumstances.
(ii) Counter Cyclical Buffer: ₹ 14.45 crore (₹ 14.45 crore)
17. Non-Performing Assets:
+--------+---------------------------------------------+--------------+--------------+
| S. No.| Particulars | 2025-26* | 2024-25* |
+========+=============================================+==============+==============+
| (i) | Net NPI to Net Investments (%) | 0.00 | 0.00 |
+--------+---------------------------------------------+--------------+--------------+
| (ii) | Movement of NPIs (Gross) | | |
| (a) | Opening Balance | 2,540.87 | 2,419.25 |
| (b) | Additions during the year | 201.58 | 247.49 |
+--------+---------------------------------------------+--------------+--------------+
| (c) | Write off /recoveries | (264.48) | (125.87) |
+--------+---------------------------------------------+--------------+--------------+
| (d) | Closing Balance | 2,477.97 | 2,540.87 |
+--------+---------------------------------------------+--------------+--------------+
| (iii) | Movement of Net NPIs | | |
| (a) | Opening Balance | 97.57 | 25.10 |
+--------+---------------------------------------------+--------------+--------------+
| (b) | Additions during the year | 39.05 | 96.81 |
+--------+---------------------------------------------+--------------+--------------+
| (c) | Reductions during the year | (39.32) | (20.57) |
+--------+---------------------------------------------+--------------+--------------+
| (d) | Closing Balance | 97.30 | 101.34 |
+--------+---------------------------------------------+--------------+--------------+
| (iv) | Movement of provisions for NPIs | | |
| | (excluding provision on standard assets) | | |
| (a) | Opening balance | 2,443.29 | 2,394.15 |
+--------+---------------------------------------------+--------------+--------------+
| (b) | Provision made during the year | 189.85 | 160.87 |
+--------+---------------------------------------------+--------------+--------------+
| (c) | Write off /recoveries | (252.47) | (111.73) |
+--------+---------------------------------------------+--------------+--------------+
| (d) | Closing balance | 2,380.67 | 2,443.29 |
+--------+---------------------------------------------+--------------+--------------+
*the figures are including Non-Performing Investment.
18. The disclosures required to be given by financial institutions pursuant to RBI Master Direction –
Reserve Bank of India (Financial Statements of All India Financial Institutions – Presentation,
Disclosure and Reporting Directions 2025) dated 28 November 2025 not being considered
relevant for consolidated financial statements of the group and hence the same are not contained
in the notes.
19. In case of four subsidiaries, depreciation has been provided using Written Down Value method
and is not adjusted in Consolidated Financial Statements as per Straight Line method. The impact
of this on the consolidated financial statements is not material.
20. Leave Travel Concession benefits to employees are accounted for as and when the same is
availed by the employees.
21. During the year, the group has paid the arrears towards wage settlement of ₹ 503.54 crore out of
the provisions made of ₹ 897.42 crore created up to December 31, 2025 (including ₹ 230.25 crore
provided during FY 2025-26). An amount of ₹308.86 crore has been reversed, comprising ₹
230.25 crore pertaining to the current year and ₹ 78.61 crore relating to previous years, and netted
off from employees cost. Balance of ₹ 85.00 crore is still lying in the books of account and which
would be paid in FY 2026-27.
22. Prior period items included in the Profit and Loss account are as follows:
(Amount in ₹ crore)
+--------+---------------------------------------------+--------------+--------------+
| S. No.| Particulars | 2025-26 | 2024-25 |
+========+=============================================+==============+==============+
| 1. | Income | 0.00 | 0.00 |
+--------+---------------------------------------------+--------------+--------------+
| 2. | Revenue Expenditure | 0.00 | 0.00 |
+--------+---------------------------------------------+--------------+--------------+
| | Total | (0.00) | (0.00) |
+--------+---------------------------------------------+--------------+--------------+
23. Accounting Standard 18 – Related Party Disclosures
As the Bank is state controlled enterprise within the meaning of AS-18 ―Related Party
Transactions‖, the details of the transactions with other state-controlled enterprises (including its
subsidiaries) are not given.
23.1 Associate:
Sahakar Sarathi Private Limited
23.2 Key Management Personnel (NABARD):
+-----------------------------------+-----------------------------+
| Name of the party | Designation |
+===================================+=============================+
| Dr Shaji Krishnan V | Chairman |
+-----------------------------------+-----------------------------+
| Shri Goverdhan Singh Rawat | Deputy Managing Director |
+-----------------------------------+-----------------------------+
| Dr Ajay Kumar Sood | Deputy Managing Director |
+-----------------------------------+-----------------------------+
23.3 Key Management Personnel (Subsidiaries)
+-----------------------------------+-----------------------------+
| Name of Subsidiary | Name of the party |
+===================================+=============================+
| NABCONS | Shri Niraj Kumar Verma (upto|
| | 29 August 2024) |
| | Dr Haragopal Yandra (w.e.f |
| | 30 August 2024) |
| | Smt Neha Chaudhary |
+-----------------------------------+-----------------------------+
| NABFINS | Smt N Neeraja Nandamudi |
| | Shri A Jayasheelan |
| | Shri Mohan Prasad |
+-----------------------------------+-----------------------------+
| NABFOUNDATION | Smt Pooja Ahuja |
| | Shri Bibhu Prasad Kar |
| | Shri Rajendra Prasad Pawar |
| | (w.e.f 02 May 2025) |
| | Smt Sudha Verughese (upto |
| | 30 April 2025) |
| | Smt Aditi Shukla |
+-----------------------------------+-----------------------------+
| NABKISAN | Shri Prasad Rao |
| | Shri G Immanuvel |
| | Shri LS Naveenkumar |
| | Smt M Bhuvaneswari |
| | Smt Suzette Pereira |
+-----------------------------------+-----------------------------+
| NABSANRAKSHAN | Shri Rahul Uppal (upto 04 |
| | September 2025) |
| | Shri Damodar Mishra (w.e.f |
| | 04 September 2025) |
| | Shri Sunanda Kumar Sahoo |
+-----------------------------------+-----------------------------+
| NABVENTURE | Shri Vikas Bhatt |
| | Smt Deepti Helgaonkar (upto |
| | 30 April 2025) |
| | Shri Anupam Pattanayak |
| | (w.e.f 19 August 2025) |
| | Shri Tunu Sahu |
+-----------------------------------+-----------------------------+
+---------------------------------------------+
| Designation |
+=============================================+
| Managing Director |
| Managing Director |
| Company Secretary |
+---------------------------------------------+
| Managing Director |
| Chief Financial Officer |
| Chief Operating Officer/ |
| Executive Nominee Director |
+---------------------------------------------+
| Company Secretary |
| Chief Executive Officer/Director |
| Chief Financial Officer |
| Chief Financial Officer |
| Company Secretary |
| Company Secretary |
+---------------------------------------------+
| Chief Executive Officer/Director |
| Chief Executive Officer/Director |
| Company Secretary |
+---------------------------------------------+
| Managing Director |
| Chief Financial Officer |
| Chief Financial Officer |
| Company Secretary |
+---------------------------------------------+
23.4 Significant transactions with related parties
(Amount in ₹ crore)
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Items / Related | Subsidiaries | Associates/ | Key | Relatives of Key | Total |
| | | Joint | Management | Management | |
| | | ventures | Personnel @ | Personnel | |
+=======================+===================+===================+===================+===================+===================+
| Borrowings# | - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Deposit# | - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Placement of deposits#| - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Advances# | - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Outstanding at the | - | - | - | - | - |
| year end | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Maximum during the | - | - | - | - | - |
| year | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Investments# | - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Outstanding at the | - | 333.33 | - | - | 333.33 |
| year end | | (NIL) | | | (NIL) |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Maximum during the | - | 333.33 | - | - | 333.33 |
| year | | (NIL) | | | (NIL) |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Non funded | - | - | - | - | - |
| commitments# | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Leasing arrangements | - | - | - | - | - |
| availed# | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Leasing arrangements | - | - | - | - | - |
| provided# | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Rent Payment | - | 0.05 | - | - | 0.05 |
| | | (NIL) | | | (NIL) |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Purchase of fixed | - | - | - | - | - |
| assets | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Sale of fixed assets | - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Interest paid | - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Interest Received | - | - | - | - | - |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Rendering of | - | - | - | - | - |
| services* | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Receiving of | - | - | - | - | - |
| services* | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
| Management | - | - | 8.38 (11.12) | - | 8.38 (11.12) |
| Contracts** | | | | | |
+-----------------------+-------------------+-------------------+-------------------+-------------------+-------------------+
@ Whole time directors of the Board
# The outstanding at the year end and the maximum during the year are to be disclosed
*Contract Services etc. and not services like remittance facilities, locker facilities etc.
** Remuneration to Key Management Personnel
24. Information on Business Segment
(a) Brief Background
The Bank has recognized Primary segments as under:
i) Direct Finance: Includes Loans given to state governments and other agencies for rural
infrastructure development, co-finance loans and loans given to voluntary agencies/ non governmental organizations for developmental activities and other direct loans to DCCBs.
ii) Refinance: Includes Loans and Advances given to State Governments, Public Sector Banks,
Private Banks, Small Finance Banks, Foreign Banks, SCARDBs, StCBs, Regional Rural
Banks etc. as refinance against the loans disbursed by them to the ultimate borrowers.
iii) Treasury: Includes investment of funds in treasury bills, short-term deposits, government
securities, etc.
iv) The segments other than the above three primary segments is other business segments. After
finding out the results of the three primary segments based on the direct income and direct
expenses, the balance amounts including un-allocable expenses/ liabilities/ assets are
grouped under ―Other Business‖.
(b) Information on Primary Business Segment
(Amount in ₹ crore)
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Particulars| Treasury | Refinance | Direct Lending| Other Business| Total |
| Business | | | | | |
| Segments | 2025-26 | 2024-25 | 2025-26 | 2024-25 | 2025-26 | 2024-25 | 2025-26 | 2024-25 | 2025-26 | 2024-25 |
+============+=============+=============+=============+=============+=============+=============+=============+=============+=============+=============+
| Revenue | 8,479.22 | 7,649.52 | 27,891.95 | 28,911.04 | 24,859.95 | 22,404.11 | 306.64 | 326.92 | 61,537.77 | 59,291.59 |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Result | 1,805.83 | 1,450.30 | 6,482.42 | 3,571.30 | 3,207.45 | 7,910.98 | (2,141.23) | (2,714.80) | 9,564.83 | 10,436.51 |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Unallocated| | | | | | | | | 0.00 | 0.00 |
| Expenses | | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Operating | | | | | | | | | 9,564.83 | 10,436.51 |
| Profit | | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Income Taxes| | | | | | | | | 2,215.22 | 2,594.93 |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| 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 | | | | | | | | | 7,349.61 | 7,841.58 |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Other | | | | | | | | | | |
| Information| | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Segment | 1,55,560.74 | 1,39,343.11 | 5,10,333.17 | 4,53,289.86 | 4,27,727.43 | 3,92,465.48 | 2,824.73 | 1,272.07 | 10,98,146.07| 9,86,370.53 |
| Assets | | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Segment | 1,78,299.64 | 1,50,328.53 | 3,92,126.99 | 3,51,850.09 | 4,27,053.85 | 3,91,249.65 | 97,960.54 | 90,167.93 | 10,95,441.01| 9,83,596.20 |
| Liabilities| | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Unallocated| | | | | | | | | 172.28 | 148.66 |
| Assets | | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Total Assets| | | | | | | | | 10,98,318.35| 9,86,519.19 |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Unallocated| | | | | | | | | 2,877.34 | 2,922.99 |
| Liabilities| | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
| Total | | | | | | | | | 10,98,318.35| 9,86,519.19 |
| Liabilities| | | | | | | | | | |
+------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+-------------+
Note : Unallocated Assets represent Deferred Tax Asset and Unallocated Liabilities represent Provision for Income Tax
(c) Since the operations of the Bank are confined to India only, there is no reportable secondary
segment.
25. On November 21, 2025, the Government of India notified the four Labour codes - The code on
Wages, 2019, The Industrial Relations code, 2020, The code on Social Security, 2020 and The
Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the
'Labour Codes') consolidating 29 existing Labour Laws. The Bank has made provision for gratuity
aggregating to ₹ 0.73 crore for contract employees in accordance with the provisions of the new
Labour Codes. However, the detailed rules and procedural guidelines under the said Labour Codes
are yet to be notified by all the State Governments. Accordingly, the final impact, if any, arising
from such notifications and subsequent clarifications shall be appropriately considered and
accounted for in the financial statements in the period in which the same become applicable.
26. Following Notes of Part B of Schedule 18 of the Standalone Financial Statements shall also form
part of the Notes of Consolidated Financial Statements in view of the RBI directions
RBI/DOR/2025-26/334 DOR.ACC.REC.No.253/21.04.018/2025-26 ―Reserve Bank of India (All
India Financial Institutions – Financial Statements: Presentation and Disclosures) Directions,
2025‖ dated November 28, 2025 issued by The Reserve Bank of India.
+------------+---------------------------------------------+
| Note No. | Heading of the Note |
+============+=============================================+
| 1 | Capital Adequacy |
+------------+---------------------------------------------+
| 3 | Asset Quality and Specific Provisions |
| | (except Note 3.3 – Non-Performing Assets) |
+------------+---------------------------------------------+
| 4.2 | Investment Portfolio: Constitution and |
| | operations |
+------------+---------------------------------------------+
| 5 | Disclosure of transfer of loan exposures |
+------------+---------------------------------------------+
| 6 | Disclosure on Co Lending Arrangements (CLA) |
+------------+---------------------------------------------+
| 7 | Non-Fund Based (NFB) Credit Facilities |
+------------+---------------------------------------------+
| 8 | Details of Financial Assets purchased/sold |
+------------+---------------------------------------------+
| 9 | Operating Results |
+------------+---------------------------------------------+
| 10 | Credit Concentration Risk |
+------------+---------------------------------------------+
| 11 | Derivatives |
+------------+---------------------------------------------+
| 12 | Disclosure of Letters of Comfort (LoCs) |
| | issued by AIFIs |
+------------+---------------------------------------------+
| 13 | Asset Liability Management |
+------------+---------------------------------------------+
| 14 | Draw Down from Reserves |
+------------+---------------------------------------------+
| 15 | Disclosure of Penalties imposed by RBI |
+------------+---------------------------------------------+
| 16 | Disclosure of Complaints |
+------------+---------------------------------------------+
| 17 | Disclosures relating to Securitisation |
+------------+---------------------------------------------+
| 18 | Off Balance Sheet SPVs Sponsored (which |
| | are required to be consolidated as per |
| | accounting norms) |
+------------+---------------------------------------------+
| 19.2 | Accounting Standard 15- Employee Benefits |
+------------+---------------------------------------------+
27. Figures in brackets pertain to previous year.
28. Previous year's figures have been regrouped / rearranged wherever considered necessary to
conform to the current years classification/ presentation.
As per our attached report of even date.
For Suresh Surana & Associates LLP
Chartered Accountants
Firm Registration No.: 121750W/W100010
For and on behalf of the Board of Directors
Ramesh Gupta
Partner
Membership No.:102306
Accounts Department
Mumbai
Date - 26 May 2026
Goverdhan Singh Rawat
Deputy Managing Director
Dr. Shaji Krishnan V
Chairman
R Inigo Arul Selvan
Chief General Manager & Secretary
Mumbai
26 May 2026
R INIGO ARUL SELVAN, Chief General Manager & Secy.
[ADVT.-III/4/Exty./274/2026-27]
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