What is Full Form of Nabard, What does NABARD stands for?
NABARD: National Bank For Agriculture And Rural Development
NABARD related questions: What is the full form of NABARD, What is the meaning of NABARD, NABRD full Form in English, Why is NABARD needed.
The full form of NABARD is National bank for agriculture and rural development.
NABARD was established in the year 12 July 1982 by an act of parliament to implement the national bank for agriculture and rural development act 1981.
It is an apex development bank that provides credit assistance to the development of agriculture, small industries, cottage industries, and other small business in rural areas.
NABARD is headquartered in Mumbai (Maharashtra) and its branches are located all over the country.
What are the functions of NABARD?
The prime function of NABARD is as follows
- It acts as an apex body for meeting the credit needs of all the types of agricultural and rural development
- It coordinates all the agricultural and rural development activities
- It provides the refinancing facilities to the state cooperative banks, regional rural banks, and other financial institutions
- It has the responsibility of inspecting the cooperative banks and RRB
- It maintains a research and development fund to promote research in agriculture and rural development
- It provides long term assistance
Their millstones include SHG bank linkage program, Kisan Credit Card and there’s a long list indeed.
Nabard also supervises state cooperative banks StCBs, district cooperative central banks and regional rural banks and conducts a statutory inspection of these banks.
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