NABARD came into existence on 12 July 1982 in line with the recommendation of Shri B. Sivaraman Committee set by the Reserve Bank of India (RBI) at the insistence of the Government of India.
NABARD is fully owned by Government of India.
Vision: It acts as a Development Bank of the Nation for fostering rural prosperity
Mission: Promote sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology and institutional development for securing prosperity.
Functions of NABARD
provides refinance support
prepares district level credit plans
supervises Cooperative Banks and Regional Rural Banks (RRBs)
monitoring and evaluation of projects refinanced by it
advises government in policy formulation and implementation
provides training to rural handicraft artisans and guides them to develop marketing facilities etc.
Achievements of NABARD
The SHG Bank Linkage Project launched by NABARD in 1992 has now become the world’s largest micro finance project.
Kisan Credit Card, designed by NABARD, has become source of comfort for crores of farmers.
So far NABARD financed one fifth of India’s total rural infrastructure.
NABARD is a pioneer in the field of watershed development as a tool for sustainable climate proofing etc.
About NABARD
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