Podcast
Questions and Answers
What does NABARD stand for?
What does NABARD stand for?
National Bank for Agricultural and Rural Development
When was NABARD established?
When was NABARD established?
12th July 1982
Where is the headquarters of NABARD located?
Where is the headquarters of NABARD located?
Mumbai
Who was the first chairman of NABARD?
Who was the first chairman of NABARD?
Signup and view all the answers
What is the vision of NABARD?
What is the vision of NABARD?
Signup and view all the answers
What significant scheme did NABARD launch in August 1998?
What significant scheme did NABARD launch in August 1998?
Signup and view all the answers
NABARD was established by merging the Agricultural Credit Department of RBI and the Agricultural Refinance Development Corporation.
NABARD was established by merging the Agricultural Credit Department of RBI and the Agricultural Refinance Development Corporation.
Signup and view all the answers
What does the acronym RIDF stand for?
What does the acronym RIDF stand for?
Signup and view all the answers
Which among the following is NOT a function of NABARD?
Which among the following is NOT a function of NABARD?
Signup and view all the answers
Match the following NABARD training establishments with their details:
Match the following NABARD training establishments with their details:
Signup and view all the answers
What pilot project related to Joint Liability Groups was introduced by NABARD?
What pilot project related to Joint Liability Groups was introduced by NABARD?
Signup and view all the answers
Study Notes
NABARD (National Bank for Agricultural and Rural Development)
- Established on 12th July 1982 under the NABARD Act of 1981, headquartered in Mumbai.
- Created after recommendations by the CRAFICARD/B. Sivaraman Committee formed by RBI in March 1979, aimed at institutional credit for agriculture and rural development.
- Resulted from merging the Agricultural Credit Department of RBI and the Agricultural Refinance Development Corporation (established in 1963).
- Initial capital was Rs 100 Crore, shared equally between the Government of India and RBI; now fully owned by the Government of India.
- Managed by a 15-member Board of Directors including the Chairman, RBI officials, state government officials, and two Deputy Managing Directors.
- Current Chairman: Shaji K V; first Chairman: Ramakrishna Iyyer; term length for Chairman is five years.
- Vision statement emphasizes being "Development Bank of the Nation for Fostering Rural Prosperity."
Training Establishments
- BIRD (Bankers Institute of Rural Development): Established in 1983 in Lucknow to provide training.
- NBSC (National Bank Staff College): Founded in 1986 in Lucknow, offers training to bank employees.
- KCC (Kisan Credit Card) scheme launched in August 1998 under the R V Gupta Committee.
- Promotes Self-help Groups (SHGs) and rural development initiatives since 1992.
Functions
- Engages in Credit, Development, and Supervisory or Regulatory functions in agriculture and rural development.
- Offers various funds including the National Rural Credit Stabilization Fund and the Rural Infrastructure Development Fund (RIDF) established in 1995-1996.
Subsidiaries
- Includes NABKISAN, NABSAMRUDDHI, NABFINS, NABFOUNDATION, NABCONS, NABVENTURES, and NABSanrakshan.
Initiative: NABSKILL
- A digital interface initiative to document stakeholders involved in off-farm sector initiatives, operated through 31 regional offices.
Financing Joint Liability Groups (JLGs)
- Launched in 2004-05 as a pilot project across 8 states; JLGs consist of 4-10 members engaging in similar economic activities to collectively repay loans.
Development Action Plan
- Aims to enhance the cooperative credit institutions sector and improve access to credit for rural areas.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz focuses on the management and operation of major cooperative organizations and institutions in India, including NABARD, NCUI, and AMUL. Test your knowledge on the roles and functions of these key players in the cooperative sector. Prepare to explore various cooperatives that contribute to economic growth and community welfare.
