National Bank for Agriculture and Rural Development (NABARD)

National Bank for Agriculture and Rural Development (NABARD)

Establishment- 1982 after the recommendation of a Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development (CRAFICARD), set up by the Reserve Bank of India (RBI) under the Chairmanship of Shri B. Sivaraman.

It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC)

Chairman: Dr. Harsh Kumar Bhanwala

It is one of the premier agencies to provide credit in rural areas. NABARD is India's specialized bank for Agriculture and Rural Development in India.

Functions of NABARD

Institutional development - Strengthening of rural credit co-operatives and RRB for sustainable rural financial system

1. Farm Sector development

2. Non-Farm Sector development

3. Financial inclusion

4. Core banking solution to co-operative banks

5. Research and Development

6. Climate change

7. Monitors and supervises government schemes and provides training to human resources