What is the full form of NABARD? National Bank for Agriculture and Rural Development

 

National Bank for Agriculture and Rural Development

Predecessor Agricultural Refinance and
Development Corporation
Formation July 12, 1982; 39 years ago
Type Regulatory Body
Purpose
  • Agriculture Development
  • Rural Development
  • Credit Planning
  • Refinance
  • Regulation of Regional Rural Banks
  • Regulation of Apex Cooperative Banks
Headquarters Mumbai,
India
Owner Ministry of Finance , Government of India
Chairman
Govinda Rajulu Chintala
Website www.nabard.org

NABARD Full Form

What is the full form of NABARD?

National Bank for Agriculture and Rural Development
National Bank for Agriculture and Rural Development


The full form of NABARD is National Bank for Agriculture and Rural Development. National Bank for Agriculture and Rural Development (NABARD) is an apex bank in India based in Mumbai, Maharashtra. 

It has been recognized for “in areas related to agricultural credit, in policy matters of planning and operation and for other economic activities in rural areas of India”.

NABARD has its head office in Mumbai, India.

History

It is one of the major agencies for providing credit in rural areas.

National Bank for Agriculture and Rural Development is one such bank which provides loans to villagers for their development and to improve their standard of living economically.

NABARD was established on 12 July 1982 as an apex developmental bank with the mandate of facilitating credit flow for development and development of agriculture, small scale industries, cottage and village industries, handicrafts and other rural crafts. 

It is also mandated to support other related activities in rural areas, promote integrated and sustainable rural development and ensure prosperity in rural areas.


In order to discharge its role as a facilitator of rural prosperity, NABARD has been entrusted with the following responsibilities:

Providing refinance to lending institutions in rural areas

promoting or promoting institutional development

To evaluate, monitor and supervise client banks.

It acts as an apex agency of financing institutions which provide investment and production credit to promote various developmental activities in rural areas.

Takes measures towards institution building for the absorption capacity of the credit disbursement system, which includes monitoring, implementation of rehabilitation plans, restructuring of credit institutions, improving training of personnel, etc.

Coordinates with rural financing activities of all institutions primarily involved in grassroots development, and with the Government of India, State Governments, Reserve Bank of India (RBI) and others involved in policy making matters. 

Maintains synergy with national level institutions.

It assumes the responsibility of monitoring and evaluating its refinance projects.[source]


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