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Role and Function of NABARD

Discuss the Role and Function of NABARD


(image source- NABARD website)


National Bank for Agriculture and Rural Development was established on 12th July 1982 by an act of the parliament. It is an apex institution providing and regulating credit and other facilities for the promotion and development of agriculture, small scale industries, cottage industries, handicrafts, other rural crafts and allied economic activities in rural areas.

Vision: Development Bank of the Nation for Fostering Rural Prosperity

The main role of the NABARD is policymaking, planning as well as operation in giving credit to agriculture. Refinancing institution for the development of rural infrastructure. Not only giving credit facility but also monitoring, rehabilitation, restructuring and personnel training. It promotes sustainable agriculture and rural development through financial and non-financial innovation, technology for better prosperity.

The Non-credit related function of the NABARD is Assist policy for RBI, GOI, state-owned and co-operative banks. Supporting financial inclusion and other Institutional development through Regional rural bank, state co-operative bank, district central co-op bank by giving strategy plans. 

The credit-related function of the NABARD is providing loan to state government financial institution for rural development and loans to warehousing infrastruture in Farmer's producer organisation, the federation of co-operatives, Co-operative society etc. Direct lending under NABARD development assistance and Direct lending to individuals, partnership firms, NGO, Corporates, Microfinance institutions, small finance banks, farmer's collectives etc under Umbrella programme for Natural Resources Management. Most importantly following and regulate GOI agriculture-related subsidy schemes.

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