National Bank for Agriculture and Rural Development (NABARD) has successfully raised Rs 1,040.50 crore through five-year social bonds. The social bonds issued by NABARD have been rated ‘AAA’ by CRISIL and ICRA. It is the first externally certified AAA-rated Indian Rupee Social Bond in the country. NABARD recently introduced a Sustainability Bond Framework, which aims to finance and refinance green and social projects. Social Bond is a type A bond is a financial instrument or investment vehicle issued by governments, companies, and organizations to raise capital for projects or initiatives with a specific social and environmental purpose. These bonds are typically designed to finance those projects. Projects are carried out that have a positive impact on society or solve social and environmental challenges.
National Bank for Agriculture and Rural Development (NABARD)
- NABARD was established in the year 1982 under the National Bank for Agriculture and Rural Development Act, 1981.
- NABARD is an apex banking institution providing finance for agriculture and rural development in India.
- The headquarters of NABARD is located in Mumbai.