NABARD important pointsBelow are some NABARD Important points which you should remember for you upcoming exams.Earlier, we have discussed topics which you can read here (RBI, SEBI).

NABARD Important Points

• NABARD is an apex development bank in India.

  • NABARD Full-form-National Bank for Agriculture and Rural Development.
  • NABARD Headquarters-Mumbai
  • It was set up on the recommendations of Sivaraman Committee(by act 61, 1981 of Parliament), on 12 July 1982.
  • Completed its 25 years on 12 July 2007.
  • Present Chairman of NABARD-Dr.Harsh Kumar Bhanwala.

• The Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development (CRAFICARD), which was formed by the Reserve Bank of India (RBI) under the Chairmanship of Shri B. Sivaraman, framed and recommended the establishment of the National Bank for Agriculture and Rural Development (NABARD).

• It was formed by replacing the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC).

• NABARD was formed with an initial capital of Rs.100 crore which increased to 2,000 crore.It is fully maintained by the Government of India and the RBI.

• Its main aim was to elevate rural India by increasing the credit flow for advancement of agriculture & rural non farm sector.

• NABARD looks after the development of various industries like the cottage industry, small industry and village industry, and other rural industries. NABARD also reaches out to allied economies and supports and promotes integrated development.

• RBI has sold its NABARD stakes to the Government of India, which now holds 99% stake.

• NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.

• NABARD has 28 Regional Offices and one Sub-office which is located in the capitals of all the states/union territories.

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