NABARD

NABARD is an apex development bank in India established on 12 July, 1982 with an aim of providing services to rural India by increasing the credit flow for evaluation of agriculture & rural non form sectors.

It was set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. Sivaraman.

NABARD is a development bank for providing and regulating credit and other facilities for the promotion and development of cottages, small scale industries, development of agriculture, village industries, handicrafts and other rural crafts

With a view of promoting rural development and securing rural areas, NABARD is entrusted with

1.      Providing refinance to lending institutions in rural areas

2.      Bringing about or promoting institutional development and

3.      Evaluating, monitoring and inspecting the client banks

RBI sold its stake in NABARD to the Government of India, which now holds 99% STAKE. NABARD is active in developing financial inclusion policy.

Head Quarters: Mumbai

Established on: 12 July, 1982

Chairman: Dr. Harsh kumar Bhanwala           

NABARD completed its 25 years on 12 July, 2007

NABARD is active in developing Financial Inclusion

It is India’s specialized bank developed by Shivaramans committee to provide credit in rural areas. 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).

NABARD undertakes the monitoring and evolution of projects will be refinanced by it.

It provides training for the institutions working for the rural development.

NABARD keeps a check on client institutions

It regulates the cooperative banks and RRB’s

It takes measures for improving credit delivery system, monitoring, schemes credit institutions, and training of personnel

Helps the state governments in reaching their targets of providing assistance to eligible institutions in agriculture and rural development