NABARD (National Bank of Agriculture and Rural Development)was established on July 12, 1982. NABARD is the apex institution to provide credit facility to agriculture and rural development.
NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas. In discharging its role as a facilitator for rural prosperity NABARD is entrusted with
Providing refinance to lending institutions in rural areas
Bringing about or promoting institutional development and
Evaluating, monitoring and inspecting the client banks
Besides this pivotal role, NABARD also:
Acts as a coordinator in the operations of rural credit institutions.
Extends assistance to the government, the Reserve Bank of India and other organizations in matters relating to rural development.
Offers training and research facilities for banks, cooperatives and organizations working in the field of rural development.
Helps the state governments in reaching their targets of providing assistance to eligible institutions in agriculture and rural development.
Acts as regulator for cooperative banks and RRBs.