Wrong coverage regarding NABARD in Jammu print media on 3/09/2021

Press Release: For immediate circulation

NABARD Has No Role to Play in Implementation of J&K's Himayat Scheme; Clarifies NABARD

~ NABARD Claims That its Subsidiary 'NABCONS' is Only the Technical Support Agency to Himayat Mission Management Unit~

New Delhi / Jammu: September 04, 2021: In response to certain news reports in Jammu that the Anti-Corruption Bureau (ACB) officials conducted raids in NABARD's Office in Jammu on September 02, 2021, National Bank for Agriculture and Rural Development (NABARD), India's premier agriculture and rural development finance institution, has clarified that it had no role to play, directly or indirectly, in the case of alleged misappropriation of funds pertaining to implementation of Himayat (DDU-GKY) projects. NABARD Consultancy Services Private Limited (NABCONS), which is a wholly-owned subsidiary of NABARD, has clarified its stand on behalf of NABARD. NABCONS has further stated that the ACB Officials visited the Office of NABCONS in Jammu and not that of NABARD.

"The news appeared in certain newspapers that the ACB Officials raided NABARDs' Jammu and Kashmir Regional Office located at Railhead Complex in Jammu, is factually incorrect and baseless. We want to state that the ACB Officials visited the office of NABCONS, a subsidiary of NABARD, and not the Office of NABARD. Their visit was for verification of books in relation to the matters the ACB has been pursuing with other Agencies outside NABCONS", said Mr K Venkateswara Rao, Managing Director of NABCONS. He further mentioned that the verification was undertaken by the ACB as per the Standard Operating Procedure (SOP) laid down by the Ministry of Rural Development (MoRD), GoI.

NABCONS has stated that it only acted as a Technical Support Agency (TSA) to Himayat Mission Management Unit (HMMU) and Jammu Kashmir Rural Livelihoods Mission in the UT of Jammu & Kashmir and in the capacity of a monitoring Agency.