NABARD - National Bank For Agriculture And Rural Development
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NABARD, established on July 12, 1982, is India's specialized bank for agricultural and rural development, aiming to promote sustainable rural development through effective credit support. It performs various functions including providing refinancing facilities to banks, support during natural calamities, and offering training for rural upliftment institutions. Key achievements include contributions to the White and Blue Revolutions, improvements in agricultural storage facilities, and increased rural finance and development.
NABARD - National Bank For Agriculture And Rural Development
- 1. { NABARD - National Bank for Agricultural and Rural Development
- 2. NABARD : Introduction Setup in 12 July, 1982. India’s specialized bank for Agricultural and Rural Development in India. Operates through HO at Mumbai with branches all over the India. Had developed a huge amount of trust capital in it’s 3 decades of work with rural communities.
- 3. HISTORY After Independence, in order to improve rural credit the government and RBI decided to set up committee which would take up study of agricultural credit on India. This committee was called All India Rural Credit Survey Committee. With the increase role of RBI, it was found too difficult to concentrate on agricultural finance. So, a decision as taken to delink agricultural finance from RBI and set up a new institution. Hence, a committee was set up under the chairmanship of Mr. Sivaraman in 1982, named as NABARD.
- 4. MISSION Promoting sustainable and equitable agricultural and rural development through effective credit support . In pursuing this mission, NABARD focuses mainly on following activities : Financial Help : Serves as a apex financing agency for institution providing investment and production in rural areas. Supervisory Function : Ensure the proper functioning of cooperative banks and regional rural banks also monitoring and evaluating of projects refined by it. Training Facilities : Provides training facilities to institutions working in the rural upliftment.
- 5. FUNCTIONS - I Provides refinancing facilities to Commercial Bank, State Co- operative Bank, Central Co-operative Bank, Regional Rural Bank. Provides funds to State government for undertaking developmental and promotional activities in rural areas. Provides loans to institutions involved in long-term agricultural loan against guarantee of State government. During natural calamities , such as drought ,crop failure and floods, the bank helps by refinancing commercial and cooperative banks.
- 6. FUNCTIONS - II Also collect credit information as it may require and share the same with Central Government and RBI. NABARD is charged with responsibility of coordinating it’s operations with those of other institutions engaged in field of rural development.
- 7. PROGRAMMES ’SHG Bank Linkage Programme’ : Encourages India’s banks to lend Self- Help Groups. Largely because SHG’s are composed mainly of poor women. ‘Umbrella Programme for Natural Resource Management’ : Financial support for natural resource management activities can be provided as a loan at reasonable rate of interest.
- 8. ACHIEVEMENTS White revolution and Blue revolution in the form of increased milk production and fisheries have also been contributed by sustained efforts of NABARD. NABARD has also played a significant role in improving storage facilities for agricultural commodities in the country. After setting up of NABARD, there has been considerable increase in the rural finance and development of small scale and cottage industries.