Monday, December 7, 2015

NABARD

NABARD
National Bank for Agriculture and Rural Development


NABARD is the apex development bank in India, head quartered in Mumbai.
It was established in 12-July-1982 by a special act of parliament and its main focus was upliftment of rural India by increasing the credit flow for elevation of agriculture and rural non farm sector.

NABARD was established on the recommendations of Shivraman Committee, on 12-July-1982 to implement the National Bank for Agriculture and Rural Development Act, 1981.
It is one of the premier agencies providing development credit in rural areas.

It replaced the Agriculture Credit Development (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India (RBI) and Agricultural Refinance and Development Corporation (ARDC).

NABARD is the apex institution in the country which looks after the development of cottage industry, small industry and village industry and other rural industries.

NABARD's refinance is available to State Co-operative Agriculture and Rural Development Banks (SCARDB), State Co-operative Banks (SCB), Regional, Rural Banks (RRB), Commercial Banks (CB) and other financial institution approved by RBI.