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NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT (NABARD)
 

 

 

 

 

 

 

 

Objective

          Set up on 12th July 1982 under an act of Parliament by initially merging the A.C.D. and R.P. cell of RBI and the entire undertaking of ARDC, the NABARD is an Apex Development Bank of the country for supporting and promoting agriculture and rural development.

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Mission

          It promotes sustainable and equitable agriculture and rural development through effective credit support, related services, institution building and other innovative initiatives.

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Structure

          It has the Head Office in Mumbai and Regional Office in almost all the state capitals. For Orissa, it has the R.O. in Bhubaneswar. Besides, the ROs have opened District Offices at the District level. District Office of Keonjhar was opened on 26.11.91 to serve as a link between the district and the R.O.

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Function

          NABARD provides refinance for S/T, M/T and L/T credit to eligible institutions viz. Comm Banks, SCBs, RRBs, SCARDBs etc.

          It also has developmental functions:-

  1. It co-ordinates operations of rural credit institutions.
  2. It ensures institution building.
  3. It develops expertise to deal with agricultural and rural problems
  4. It assists Government RBI and other institutions in rural development efforts.
  5. It acts as agent to Government and R.B.I. in transaction of business in relevant areas.
  6. It provides facilities for training and research and dissemination of information in rural banking and development etc.
  7. It supports Farmers Club and promotes credit linkage for SHGs.

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Regulatory Function

  1. It undertakes inspection of Regional Rural Banks (RRBs) and Co-operative banks ( other than (PCBs) under B.R. Act, 1949
  2. It recommends opening of branches of RRBs and Co-operative Banks.

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