NABARD stands for National Bank for Agriculture and Rural Development. Its headquarter is in Mumbai and branches are all over India. NABARD was formed on the recommendations of B.Sivaraman Committee, (by Act 61, 1981 of Parliament) on 12 July 1982 to introduce the National Bank for Agriculture and Rural Development Act 1981. the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC) are replaced by NABARD. The starting corpus of NABARD was Rs.100 crores. The share capital of NABARD between Government of India and RBI, the paid-up capital as on 31 May 2017, stood at Rs.6,700 crore with Government of India holding Rs.6,700 crore (100% share). The authorized share capital is Rs.30,000 crore. NABARD has been instrumental in establishing provincial, social developments and social ventures in the rural hinterlands. It was in the process joined forces with around 4000 accomplice associations in establishing a large number of the mediations be it, SHG-Bank Linkage program, tree-based innate networks’ jobs activity, watershed approach in soil and water protection, expanding crop profitability activities through lead edit activity or spread of data stream to agrarian networks through Farmer clubs. In spite of this, it makes good on colossal regulatory expenses as well, to the exchequer – figuring in the best 50 citizens reliably. NABARD practically furrows back every one of the benefits for advancement spending, in their unending quest for arrangements and answers. Consequently, the association had built up a colossal measure of trust capital in its 3 many years of work with provincial networks.
NABARD discharge its duty by undertaking the following roles :
- for promoting the various developmental activities in rural areas, NABARD Serves as an apex financing agency for the institutions providing investment and production credit
- Takes measures towards institution building for improving absorptive capacity of the credit delivery system, including monitoring, formulation of rehabilitation schemes, restructuring of credit institutions, training of personnel, etc.
- Co-ordinates the rural financing activities of all institutions engaged in developmental work at the field level and maintains liaison with Government of India, state governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation
- Undertakes monitoring and evaluation of projects refinanced by it.
- NABARD refinances the financial institutions which finance the rural sector.
- NABARD partakes in the development of institutions which help the rural economy.
- NABARD also keeps a check on its client institutes.
- It regulates the institutions which provide financial help to the rural economy.
- It provides training facilities to the institutions working in the field of rural upliftment.
- It regulates the cooperative banks and the RRB’s and manages talent acquisition through IBPS CWE.
With the help of the Swiss Agency for Development and Cooperation, NABARD set up the Rural Innovation Fund. Provincial Infrastructure Development Fund (RIDF) is another prominent plan for the bank for country development. Under the RIDF conspire Rs. 51,283 crore have been endorsed for 2,44,651 tasks covering water system, provincial streets and scaffolds, wellbeing and instruction, soil preservation, water plans and so on. Rustic Innovation Fund is a store intended to help imaginative, hazard benevolent, eccentric trials in these divisions that would possibly advance job openings and work in provincial areas. The help is reached out to Individuals, NGOs, Cooperatives, Self Help Group, and Panchayati Raj Institutions who have the ability and readiness to actualize inventive thoughts for enhancing the personal satisfaction in country zones. Through part base of 25 crores, 600000 cooperatives are working in India at grass root level in relatively every segment of the economy. There are linkages among SHG and other compose establishments with that of cooperatives