Friday, 23 September 2016

About Nabard



Headquarters: Mumbai, Maharashtra , India
Established: 12 July 1982
Chairman: Dr. Harsh Kumar Bhanwala

About NABARD

National Bank for Agriculture and Rural Development ( NABARD ) is an apex development bank in India, headquartered at Mumbai with branches all over India.
The Bank has been entrusted with "matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India". 
NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.

History

NABARD was established on the recommendations of Shivaraman Committee, (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.
It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC). It is one of the premier agencies providing developmental credit in rural areas. NABARD is India's specialised bank for Agriculture and Rural Development in India.

Stack Holding

The initial corpus of NABARD was Rs.100 crores. Consequent to the revision in the composition of share capital between Government of India and RBI, the paid up capital as on 31 March 2015, stood at Rs.5000 crore with Government of India holding Rs.4,980 crore (99.60%) and Reserve Bank of India Rs.20.00 crore (0.40%). RBI sold its stake in NABARD to the Government of India, which now holds 99% stake.

Functions of Nabard

●NABARD gives high priority to projects formed under IRDP.
●It provides refinance for IRDP accounts in order to give highest share for the support for poverty alleviation programs run by IRDP.
●Other than the activities included under IRDP, it also makes the service area plan, to provide backward and forward linkages and also infrastructural support.
●NABARD also prepares guidelines for promotion of group activities under its programs and provides 100% refinance support for them.
●It is making efforts to establish linkages between Self-help Group(SHG) that are organized by voluntary agencies for poor and needy in rural areas and other official credit agencies.
●It refinances to the complete extent for those projects that are taken under the
National Watershed Development Programme‘ and the ‘National Mission of Wasteland Development ‘.
●It also has a system of District Oriented Monitoring Studies, under which, study is conducted for a cross section of schemes that are sanctioned in a district to various banks, to ascertain their performance and to identify the constraints in their implementation, It also initiates appropriate action to remedy them.
●It also supports Vikas volunteer Vahini programs which offer credit and development activities to poor farmers.
●It also inspects and supervises the cooperative banks and RRBs to periodically ensure the development of the rural financing and farmers’ welfare.
●NABARAD also recommends about licensing for RRBs and Cooperative banks to RBI.
●NABARD also provides assistance and support for the training and development of the staff of various other credit institutions, that are engaged in credit distributions.
●It also runs programs for agriculture and rural development.

●It is engaged in regulations of the cooperative banks and the RRB’s, and manages their talent acquisition through IBPS CWE conducted across the country.

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