NABARD Full Form: National Bank for Agriculture and Rural Development
NABARD Full Form is National Bank for Agriculture and Rural Development, and it is a Development Financial Institution (DVI) in India which 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.
History of NABARD
On the recommendation of the B.Sivaramman Committee, the Government of India established NABARD on 12th July 1982. Before the formation of NABARD, Agriculture Credit Department and Rural Planning and Credit Cell of Reserve Bank of India, and Agriculture Refinance and Development Corporation were responsible for the crediting capital to the rural area for the agriculture and other development activities, but NABARD replaced all these agencies and become 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 economics activities.
- It also associated with other economics allied to promote 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 the field of rural upliftment.
- It regulates and supervises the cooperative banks and the RRB’s, throughout entire India.
NABARD Quick Summary
|Full-Form||National Bank for Agriculture and Rural Development|
|Establish||July 12, 1982|
|Type||Development Finance Institution (DFI)|
|Control by||Government of India|