On May 20,2020, The appointments committee of the union cabinet appointed Govinda Rajulu Chintala as Chairman of National Bank for Agriculture and Rural Development (NABARD). He was the successor of Harsh Kumar Bhanwala.
i.About Rajulu Chintala: He will serve as the Chairman of NABARD for the period of 2 years till his superannuation in July 31, 2022.
ii.Chintala currently serves as the Chief general manager of NABARD.
iii.Other appointments: Shaji K V and P.V.S Suryakumar have been appointed as Deputy Managing Directors (DMD) of NABARD.
iv.Shaji K V: Shaji served as the general manager of Canara Bank and he will serve as DMD of NABARD for the period of 5 years.
v.P V S Suryakumar: Suryakumar served as the chief general manager (CGM) of the NABARD, will hold the post of DMD of NABARD till his superannuation on July 31, 2023.
vi.The fresh appointment comes as the institution is set to play a key role in financing the needs of the rural economy as part of the government’s economic package dealing with the coronavirus pandemic’s impact.
vii.Access to institutional credit for farmers and freeing up restrictions on sale of agricultural products are key aspects of the government’s strategy to support the rural economy.
viii.NABARD: National Bank for Agriculture and Rural Development (NABARD) is an Apex Development Financial Institution in India. The bank is active in developing Financial Inclusion policy.
Headquarters– Mumbai, Maharashtra.
Chairman– Govinda Rajulu Chintala.