ALL ABOUT NABARD BANK - VARIOUS FACTS WHICH YOU SHOULD KNOW

GURU GYAN

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NABARD

National Bank for Agriculture and Rural Development was established on 12^th July 1982 with its Head Quarter at Mumbai with an aim of Promotion and Development of Agriculture, Small Scale Industries, cottage and village industries, handicrafts and other rural crafts.

Ø  CRAFICARD committee set up by RBI, under the chairmanship of Sh. B.Shivaraman recommended the establishment of NABARD.

Ø  CRAFICARD –Committee to review arrangements for Institutional credit for Agricultural and rural Development.

Ø  Initial capital of NABARD was Rs. 100 crore. Paid up capital as on 31^st March, 2013, stood at 4000 crore with government of India holding 3,980 crore i.e. 99.50 % and RBI 20 crore i.e. 0.50 %.

MAIN ROLES OF NABARD:

Ø  It manages and controls all the matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas.

Ø  It harmonize the rural financing activities of all institutions engaged in developmental work at the field level.

Ø  It monitors and evaluates the projects refinanced by it.

Ø  It refinances the financial institutions which finances the rural sector.

Ø  It ensures training facilities to the institutions working in the field of rural upliftment.

Ø  It regulates the co0operative banks at the RRB’s.

NOTE: Before the establishment of NABARD, Reserve Bank of India was responsible for Development of the Agricultural and Rural Sector.