NABARD Full Form is National Bank for Agriculture and Rural Development. It is a Development Financial Institution (DVI) in India that provides risk capital to the rural areas for agriculture and economic development. In short, it is a bank responsible for providing credits to the rural area in India for agriculture and other economic activities. Here is everything you need to know about NABARD in detail.
NABARD Quick Highlights
|Full-Form||National Bank for Agriculture and Rural Development|
|Establish||July 12, 1982|
|Type||Development Finance Institution (DFI)|
|Control by||Government of India|
History of NABARD
On the recommendation of the B.Sivaramman Committee, the Government of India established NABARD on 12 th July 1982. Before the formation of NABARD , the Agriculture Credit Department and Rural Planning and Credit Cell of the Reserve Bank of India, and the Agriculture Refinance and Development Corporation were responsible for crediting capital to the rural area for the agriculture and other development activities. However, NABARD replaced all these agencies and became the only premier agency. NABARD is also associated with World Bank affiliated organizations and other global development agencies and these agencies help NABARD by providing monetary aids for the upliftment of the rural area people and agriculture.
Duties of NABARD
- It works as the premier bank, providing capital help to the rural area for agriculture and economic activities.
- It is also associated with other economics allied to promoting integrated development.
- It also takes the necessary steps to improve the institution-building by fixing the credits delivery system.
- Undertakes monitoring and evaluation of projects refinanced by it.
- It provides training facilities to the institutions working in rural upliftment.
- It regulates and supervises the cooperative banks and the RRBs throughout India.
NABARD full form is National Bank for Agriculture and Rural Development. The main aim of this organization is to provide risk capital to the rural areas for agriculture and economic development. In simple words, it is a bank providing credits to the rural area in India for agriculture and other economic activities. Here we have explained what NABARD is, a few highlights, history, and the main aim of this organization. People are also reading: