As we all know government has decided to double the income of farmers till 2022 so you can see that some big and important agricultural scheme has been launched in the past few days like ayush aapke dwar, godhan nyay yojana, aroma mission and some schemes were already running such as pradhan mantri kisan samman nidhi, national mission on edible oils, crop insurance scheme, kcc for animal husbandry and fisheries nabard etc. However it is possible the government may not achieve the target by 2022 but still this will be a beneficial situation for farmers because they are getting a lot more agriculture schemes in comparison to the past. The only thing they need to do is to apply for these schemes according to their farming needs.
As far as agricultural loans are concerned, agriculture related loans are available from NABARD and today we are sharing information about nabard including how nabard works more important in upcoming posts we will be sharing info about how to take loan from NABARD. In our later posts we will cover all Nabard shcemes for farmers one by one however, it may take some time but you will find we are presenting important Nabard loan information steadily and regularly so stay tuned.
What is NABARD
Nabard is an vertex supervisory body for overall supervision of regional rural banks (rrb) and pinnacle cooperative banks in India. Nabard is a government authority or we can say it is a regulatory agency or regulatory body that has licensing and regulating capacity. It comes under the jurisdiction of the Ministry of Finance, Indian government. You might wonder why Nabard was established and the answer is Nabard was set up to implement a national bank for agriculture rural development act 1981. Moreover, Nabard replaced a few departments of agriculture including ACD, RPCC and ARDC i.e Agriculture credit department (ACD), Rural planning and credit cell (RPCC) of Reserve Bank of India and Agriculture refinance and development corporation (ARDC). While talking about the international level, Nabard is associated with the World Bank, affiliated organizations and global development agencies. These Agencies usually work for agriculture and rural development. These organisations help Nabard by advising and giving financial support so that Nabard can work for the people in the rural areas through agriculture schemes and other schemes.
Information of Nabard & facts about Nabard
Some of the Nabard facts are given below
- NABARD is responsible for matters concerning policy planning, operations, loans in the field of credit agriculture and other economic activities in rural areas in India.
- Nabard established date - Nabard established in the year 12 july 1982
- Nabard established recommendation committee - NABARD has been established on the recommendation of B Sivaraman Committee
- Nabard established act - Nabard was established by B Sivaraman Committee under Act 61, 1981 of parliament.
Nabard office address
- Nabard operates at 32 regional offices in India
- Head office - in Mumbai
- Regional offices - in all states
- Special Cell - Srinagar J & K
- Nabard district office - 336 nabard district offices and 6 training establishments in the country
- Nabard district office staff - It is staffed by district development managers (DDMs)
- Regional office - Chief general manager (CGMs) is the head of regional office (RO)
- Head office - Top Executive viz the Directors, Deputy Managing Directors (DMD) and Chairperson
Who appoint board of directors NABARD - The board of directors appointed by the government of India under Nabard.
Nabard role and functions
- NABARD is responsible for the development of cottage industry, small scale industry, village industry and other rural industries.
- Nabard works as an apex financing agency for the institutions that are providing investment production credit for promoting rural areas.
- Undertakes monitoring and evaluation of projects refinanced.
- Financial institutions which finance the rural sector are refinanced by the Nabard.
- Nabard actively participates and develops those institutes which helps the rural economy.
- Nabard also keeps an eye on its client institutes.
- Nabard regulates such institutions which provide financial help to the rural economy.
- Nabard provides training facilities to such institutions that are working in favour of rural development and upliftment of rural economy.
- Nabard regulates and also supervises the cooperative banks along with RRBs in the entire India.
Nabard shg bank linkage programme
Nabard shg linkage program - Nabard is well known for its linkage program in which NABARD encourages and appreciates banks to help self help groups (SHGs). Self help groups are formed to help poor women and this is working as microfinance.
Supervisory function of Nabard Bank
Nabard supervises the following banks
- State Cooperative Bank (StCBs)
- District Cooperative Central Bank (DCCBs)
- Regional rural banks (RRBs)
- Nabard conducts statutory inspections for these banks
Nabard refinance fund from the following Bank
- World bank
- Asian development bank
- State cooperative agriculture and rural development banks (SCARDBs)
- State cooperative banks (SCBs)
- Regional rural banks (RRBs)
- Commercial banks (CBs)
- Other financial institutions approved by RBI
Nabard all schemes
- Dairy entrepreneurship development schemes
- Commercial production units of organic inputs
- National Livestock mission
- Agriclinic and agribusiness centre scheme
- Interest subvention scheme NABARD
- New agricultural marketing infrastructure
- We will add all schemes in few days and we are doing comprehensive research on that to provide correct information.
Nabard questions and answers FAQ
Nabard is a very important topic for general information therefore the school guides their students to write essay on nabard so that students studying in normal and agriculture schools can capture the important knowledge of Nabard along with various schemes.
Some of the frequently asked questions about NABARD are given below to enhance your genral knowledge about Nabard.
What is the full form of NABARD?
National Bank of agriculture and Rural Development
Nabard established by which committee in India?
Nabard was established by B Sivaraman Committee
Nabard established under which act in India?
Nabard was established under Act 61,1981 of parliament.
When Nabard was established in India?
Nabard founded date - nabard was established on 12 july 1982
Why Nabard was established in India?
Why Nabard is formed is a basic question that comes in the mind of farmers and such people who are willing to take the services of NABARD in the forms of loan and other schemes. Nabard was set up on the recommendation of B Sivaraman Committee under the act 61, 1981 of parliament dated 12 july 1982. Nabard has been established to implement the national bank for Agriculture and rural development Act 1981.