Write a short note on NABARD.
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NABARD was set up in 1982 as an apex body to coordinate the activities of all institutions involved in rural credit. The main functions of NABARD are:
- To grant long-term loans to the State Government for subscribing to the share capital of cooperative societies.
- To take the responsibility of inspecting cooperative banks, Regional Rural Banks (RRBs) and primary cooperative societies.
- To promote research in agriculture and rural development.
- To serve as a refinancing agency for the institutions providing finance to rural and agricultural development.
- To help tenant farmers and small farmers to consolidate their landholdings.
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