National Bank for Agriculture and Rural Development

National Bank For Agriculture And Rural Development

Central Bank
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National Bank for Agriculture and Rural Development

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Description:
National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India based in Mumbai, Maharashtra. It has been accredited with "matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India".

History

NABARD was established on the recommendations of Shivaraman Committee, by an act of Parliament on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC). It is one of the premiere agencies to provide credit in rural areas.

Role

NABARD:
  1. serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas
  2. takes measures towards institution building for improving absorptive capacity of the credit delivery system, including monitoring, formulation of rehabilitation schemes, restructuring of credit institutions, training of personnel, etc.
  3. co-ordinates the rural financing activities of all institutions engaged in developmental work at the field level and maintains liaison with Government of India, State Governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation
  4. undertakes......
  5. ...

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