Ranjana Kumar to head Nabard for two years
Mumbai: Ranjana Kumar has assumed charge as chairperson of the National Bank for Agriculture and Rural Development (Nabard). Prior to this appointment, she was the chairperson and managing director of Indian Bank. Kumar will have a tenure of about two years at Nabard. She has taken charge of Nabard at a time when the institution is at crossroads as liquidity flush banks are not resorting to refinance from it, say reports. This has forced the institution to get into direct lending via co-financing with various banks.

Further, the bank faces the challenge of streamlining the ailing district central co-operative banks (DCCBs) and also dealing with the issue of mergers of regional rural banks. Kumar, who played a pivotal role in turning around the ailing Indian Bank, will be the first woman to head the apex agriculture refinance institution. The post of Nabard chairman has been vacant ever since Y C Nanda superannuated on 30 June 2003.
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