NABARD Grade A Current Affairs — 30 October 2026

Prime Minister Narendra Modi released the 24th instalment of the PM-KISAN scheme, transferring over ₹18,690 crore directly to eligible farmer families via Direct Benefit Transfer. PM-KISAN provides ₹6,000 per year in three equal instalments of ₹2,000 each to small and marginal landholding farmer families. The scheme, launched in February 2019, is a central sector scheme funded entirely by the Government of India and administered by the Ministry of Agriculture and Farmers Welfare.

PM-KISAN (Pradhan Mantri Kisan Samman Nidhi) is a Central Sector Scheme — meaning it is 100% funded by the Union Government with no state share — that provides income support to farmer families holding cultivable land. The annual benefit of ₹6,000 is paid in three instalments of ₹2,000 each, credited directly to beneficiaries' Aadhaar-linked bank accounts through Direct Benefit Transfer (DBT), eliminating intermediaries and leakage.

The scheme was originally announced in the Interim Budget 2019 with effect from December 1, 2018, making all small and marginal farmers (up to 2 hectares) eligible. It was later expanded in June 2019 to cover all farmer families irrespective of landholding size, subject to exclusion criteria.

Key exclusions include institutional landholders, farmer families holding constitutional posts, serving or retired government employees, income tax payees, and professionals like doctors, engineers, and lawyers.

For competitive exams, three dimensions matter: (1) Financial inclusion — DBT through Jan Dhan-Aadhaar-Mobile (JAM) trinity is the delivery backbone; (2) Agricultural credit — NABARD's lens is whether income support reduces distress borrowing and strengthens rural credit repayment capacity; (3) Fiscal architecture — it is a Central Sector scheme, not Centrally Sponsored, a distinction examiners test frequently. The 24th instalment crossing ₹18,690 crore in a single transfer underscores the scheme's scale as one of the world's largest direct benefit transfer programmes.

The Sustainable Bonds Insight 2026 report, published by Environmental Finance, tracks global trends in green, social, sustainability, and sustainability-linked bonds — the GSSS market. It covers issuance volumes, use-of-proceeds frameworks, labelling standards, and emerging instruments such as blue and transition bonds. The report is freely downloadable and provides data-rich infographics on how capital markets are channelling private finance toward climate and social objectives, relevant to India's sovereign green bond programme and RBI's green finance guidelines.

The GSSS bond market is the primary mechanism through which capital markets finance the low-carbon transition. Each instrument within it has a distinct architecture worth understanding for exams.

**Green Bonds** raise capital exclusively for projects with measurable environmental benefits — renewable energy, clean transport, green buildings — verified against frameworks like the ICMA Green Bond Principles or the EU Green Bond Standard.

**Social Bonds** finance projects with positive social outcomes: affordable housing, healthcare, education, food security. They follow ICMA Social Bond Principles.

**Sustainability Bonds** combine both green and social use-of-proceeds categories.

**Sustainability-Linked Bonds (SLBs)** are structurally different: proceeds are not ring-fenced for specific projects. Instead, the bond's financial terms (typically the coupon rate) are tied to the issuer meeting pre-defined Sustainability Performance Targets (SPTs). If the issuer misses the target, the coupon steps up — creating a financial penalty. This instruments-vs-outcomes distinction is crucial for exam questions.

In India's context: SEBI issued its Green Bond framework in 2023 (renamed from 2017 circular), defining eligible categories. The RBI issued India's first Sovereign Green Bond (SGB) in January 2023, raising ₹8,000 crore at a 'greenium' (lower yield than comparable government bonds). NABARD issues green bonds for climate-resilient agriculture and acts as a National Implementing Entity under the Adaptation Fund and Green Climate Fund. The GSSS market globally crossed $4 trillion in cumulative issuance by 2024.

Launched on 29 October 2024, Ayushman Vay Vandana extends Ayushman Bharat–Pradhan Mantri Jan Arogya Yojana coverage to all Indian citizens aged 70 years and above, regardless of income. Beneficiaries receive a dedicated annual health cover of ₹5 lakh per individual. Senior citizens already enrolled under AB-PMJAY get an additional top-up of ₹5 lakh. The scheme is implemented by the National Health Authority under the Ministry of Health and Family Welfare.

Ayushman Vay Vandana is a targeted extension of the flagship AB-PMJAY health insurance scheme, designed to address a critical gap: India's rapidly ageing population had no universal public health cover irrespective of economic status. Before this, AB-PMJAY covered only families below the income threshold. Vay Vandana removes the means-test criterion entirely for the 70+ age group, making it the first universally applicable health entitlement within the Ayushman Bharat architecture.

The scheme operates on a cashless, paperless model via the Ayushman app and ABHA (Ayushman Bharat Health Account) ID. Empanelled hospitals — both public and private — are obligated to provide treatment under the scheme's package rates, which is significant for financial inclusion: elderly citizens, often outside the formal workforce, face catastrophic out-of-pocket health expenditure.

From an RBI/NABARD angle, this scheme reduces household financial vulnerability among the elderly, which in turn protects rural credit portfolios — a sick elderly borrower defaulting is a well-documented rural NPA driver. From a UPSC governance angle, the scheme tests the Centre's ability to deliver cashless entitlements universally using digital health infrastructure (ABHA ID, PM-JAY portal). The '70+ age, income-independent' design is the core exam-testable distinguishing feature separating Vay Vandana from the parent PMJAY scheme.

ESG — Environmental, Social, and Governance — is a framework that measures how companies manage climate risk, social responsibility, and board accountability. In India, SEBI mandates Business Responsibility and Sustainability Reporting for top-listed firms, RBI has issued a Discussion Paper on climate risk, and NABARD channels green credit for rural ecology. Globally, ESG ratings now influence sovereign and corporate borrowing costs, making it central to financial regulation and India's net-zero commitments under the Paris Agreement.

ESG is not merely a corporate buzzword — it is a structured risk-assessment and disclosure framework that regulators worldwide are converting into binding obligations.

**Environmental (E):** Covers carbon emissions, water use, biodiversity impact, and climate transition risk. For banks, the RBI has flagged physical risk (floods, droughts damaging loan collateral) and transition risk (stranded fossil-fuel assets) as material credit risks.

**Social (S):** Covers labour rights, supply-chain standards, community impact, and financial inclusion. NABARD's priority-sector lending and watershed programmes are evaluated against social ESG metrics.

**Governance (G):** Covers board composition, executive pay, audit independence, and anti-corruption. SEBI's Listing Obligations and Disclosure Requirements (LODR) embed governance norms for listed companies.

**India-specific architecture:**
- SEBI introduced Business Responsibility and Sustainability Report (BRSR) mandatory for the top 1,000 listed companies by market capitalisation from FY 2022–23.
- BRSR Core (assurance-backed) became mandatory for the top 150 listed entities from FY 2023–24.
- RBI released a Discussion Paper on Climate Risk and Sustainable Finance (2023), proposing scenario analysis and stress-testing for banks.
- NABARD issues Green Bonds and supports climate-resilient agriculture under the National Adaptation Fund for Climate Change (NAFCC).
- India's NDC under the Paris Agreement targets 50% cumulative electric power from non-fossil sources by 2030, directly driving ESG-aligned investment flows.

ESG connects to three exam pillars: climate policy (UPSC), financial regulation and green finance (RBI), and rural credit and ecology (NABARD).

EY's Green Skills Passport is an initiative designed to equip youth and underserved communities with sustainability awareness and entrepreneurial skills needed for green economy jobs. It bridges the gap between climate ambitions and workforce readiness by providing structured learning on environmental concepts and green entrepreneurship. The programme targets populations typically excluded from formal skill development pathways, making green job markets more inclusive and accessible as global demand for sustainability-focused professionals continues to rise across sectors.

The Green Skills Passport sits at the intersection of two major policy conversations: green jobs and inclusive skill development. As economies worldwide pivot toward net-zero commitments, demand for workers who understand renewable energy, circular economy principles, carbon accounting, sustainable agriculture, and green infrastructure is accelerating rapidly.

In India's context, this connects directly to several policy frameworks. The National Green Hydrogen Mission, the Panchamrit climate targets announced at COP26, and the National Action Plan on Climate Change (NAPCC) all implicitly require a workforce trained in sustainability. Yet India's formal skill development ecosystem — through the National Skill Development Corporation (NSDC) and sector skill councils — has only recently begun incorporating green skills into its qualification packs.

The ILO defines 'green jobs' as work that contributes to preserving or restoring the environment, whether in traditional sectors such as manufacturing and construction or in new, emerging green sectors such as renewable energy. The Green Skills Passport model operationalises this by making credentialing accessible to youth who may lack formal education pathways.

For exam purposes, connect this to: Mission LiFE (Lifestyle for Environment), India's Nationally Determined Contributions (NDCs) under the Paris Agreement, and the Skill India Mission. The examiner tests whether aspirants can link climate policy commitments to ground-level workforce preparation — this is precisely that linkage.