New Delhi: The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services, under the Ministry of Finance, for the appointment of Govinda Rajulu Chintala as Chairman of National Bank for Agriculture and Rural Development (NABARD). He will hold the post from the date of assumption of charge till his superannuation on July 31, 2022, or until further orders, whichever is earlier, an official order said. Currently, he is serving as Chief General Manager in the same organisation.

In addition, the ACC has also cleared the following appointments for Deputy Managing Director positions in the same organisation:

Shaji KV has been appointed as Deputy Managing Director (DMD) of NABARD. He has been appointed to the post for a period of five years, with effect from taking over charge of the post, or until further orders, whichever is earlier. He is currently working as General Manager in Canara Bank.

PVS Suryakumar has been appointed as Deputy Managing Director (DMD) of NABARD. He will hold the post from the date of assumption of charge until his superannuation, i.e. July 31, 2023, or until further orders, whichever is earlier.

National Bank for Agriculture and Rural Development (NABARD)

National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution of the government. The bank has been entrusted with "matters concerning policy planning and operations in the field of credit for agriculture and other economic activities in rural areas in India". NABARD is active in developing the financial inclusion policy. At a time when the rural economy and MSMEs have taken a hit in revenues because of the extended nationwide lockdown, NABARD is set to play an important role in providing small-size loans.