by Yogi P - October 7, 2023

Full form of NABARD

The full form of NABARD is the National Bank for Agriculture and Rural Development. It is an apex development bank in India that provides credit and other financial services to the agriculture and rural sector.

History of NABARD

NABARD was established on 12 July 1982 by an Act of the Parliament of India. It was formed to implement the recommendations of the Shivaraman Committee, which was set up to review the agricultural credit system in India.

Functions of NABARD

NABARD’s main functions include:

• Providing refinance to financial institutions that lend to the agriculture and rural sector.
• Promoting rural development through various schemes and programs.
• Regulating cooperative banks and regional rural banks.
• Providing training and research in rural development.

Conclusion

NABARD plays a vital role in the development of the agriculture and rural sector in India. It provides financial support to farmers and other rural businesses, and promotes rural development through various schemes and programs.

NABARD is a vital partner in the country’s efforts to achieve sustainable and inclusive development.