Introduction to NABARD (National Bank for Agriculture and Rural Development)

NABARD: Development and Role

• NABARD (National Bank for Agriculture and Rural Development) was established on July 12, 1982.

• NABARD's headquarters is located in Mumbai, India.

• NABARD's primary objective is to promote sustainable and inclusive agricultural and rural development.

• NABARD was established to consolidate the existing institutions involved in rural credit and to strengthen and develop the rural financial system in India.

• NABARD played a key role in transforming the rural economy by providing credit and other financial services to farmers, rural entrepreneurs, and other stakeholders in rural areas.

• NABARD was formed by the amalgamation of three institutions:

  • Agricultural Refinance and Development Corporation (ARDC)
  • Rural Electrification Corporation (REC)
  • National Bank for Agricultural Credit (NBAC)

• One of NABARD's key objectives is to strengthen the institutional framework for rural finance by providing financial and technical assistance to Cooperative Banks, Regional Rural Banks (RRBs), and other rural financial institutions.

• NABARD regulates and supervises the operations of Cooperative Banks and RRBs to promote financial stability and soundness.

• NABARD's Core Banking Solution (CBS) is a technologically advanced system that integrates the operations of rural financial institutions across various branches and locations, facilitating improved efficiency, transparency, and access to financial services.

• International partners play a vital role by providing technical expertise, financial support, and knowledge exchange to help NABARD achieve its objectives.

Learn about the National Bank for Agriculture and Rural Development (NABARD) in India, its establishment, objectives, and operations from its headquarters in Mumbai, Maharashtra.