National Bank for Agriculture and Rural Development (NABARD)

Posted By educratsweb.comCareer 🗓 Wednesday September 19 2018 👁 413

National Bank for Agriculture and Rural Development (NABARD)
  • National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India.
  • Headquartered – Mumbai. 
  • Formation - 12th July, 1982.
  • Current President - Dr. Harsh Kumar Bhanwala.
  • Aim of NABARD is entrusted with "matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India".
  • NABARD was established on the recommendations of B.Sivaraman Committee, (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.
  • NABARD is India's specialised bank for Agriculture and Rural Development in India.
  • It is replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC).
  • NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion. 
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