Question
Write a short note on NABARD.
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Answer
NABARD:
- NABARD is the Apex banking institution. National Bank for Agricultural and Rural Development was established on 12th July 1982, with a paid-up capital of ₹ 100 crores. 50% contribution was paid by the government and 50% by RBI.
- NABARD plays an energetic role in strengthening and re-organizing the credit structure in the country.
- NABARD provides credit to agriculture, small-scale industries, cottage and village industries, handicrafts, and other allied activities.
- The money required by the primary agricultural credit societies is provided by NABARD. It reduces regional imbalances.
- Today, NABARD is fully owned by the Government of India. NABARD is connected to district and state co-operative banks and RRB’s (Regional Rural Banks) for rural development.
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