What does NABARD mean?
National Bank for Agriculture and Rural Development (NABARD) in India is a financial institution which deals with matters pertaining to policy, planning and operations in the fields of agriculture and economic development in rural areas.
What is NABARD’s Board of directors?
NABARD’s affairs are governed by a Board of Directors. The Board of Directors are appointed by the Government of India in consonance with NABARD Act. The composition of the Board of Directors is as under:
What is the role of NABARD in rural development?
It is involved in many developmental activities such as working on the betterment of tribal communities’ livelihood, promotion of cotton industries and working on increasing crop productivity. NABARD looks after the development of various rural industries such as the cottage industry.
NABARD – National Bank For Agriculture And Rural Development The importance of institutional credit in boosting rural economy has been clear to the Government of India right from its early stages of planning. Therefore, the Reserve Bank of India (RBI) at the insistence of the Government of India,
What is the role of NABARD in banking sector?
NABARD is responsible for regulating and supervising the functioning of such banks. Over the years NABARD has been pushing for development in the credit schemes for rural populations to meet their new credit requirements. Other than meeting credit requirements of the rural sector NABARD is also instrumental in social innovations and projects.
Who are NABARD subsidiaries?
Who are NABARD subsidiaries? In the year 1982, CRAFICARD or the Committee to Review Arrangements of Institutional Credit for Agriculture and Rural Development recommended the establishment of a developmental bank and accordingly, NABARD was set up. It was formed by a special parliamentary act.
Does NABARD only focus on development?
Ans: This statement is False. NABARD also focuses on development through other functions such as Resource Management Programs, Tribal Development Programs, associating with various SHG’s, educating farmers about new innovations etc.