NABARD Full Form | What Does NABARD Stands For?

NABARD: National Bank for Agriculture and Rural Development

NABARD Full Forms

NABARD full form stands for National Bank for Agriculture and Rural Development. National Bank for Agriculture and Rural Development (NABARD) is an apex development finance institution wholly owned by the Government of India.

NABARD Full Form

The bank referred to “policy, planning and loan matters in the field of lending for agriculture and other economic activities in rural India.” NABARD is actively working to promote and implement financial inclusion. NABARD is headquartered in Mumbai, Maharashtra, and has branches across the country.

Brief History

  • The NABARD was established on 12 July 1982 on the recommendations of the B. Sewerman Committee (Parliament Act 61, 1981) to implement the National Bank for Agriculture and Rural Development Act, 1981.
  • It replaced the Agricultural Credit Department (ACD) and the Rural Planning and Credit Cells (RPCC) of the Reserve Bank of India, and the Agricultural Refinance and Development Corporation (ARDC).
  • It is one of the first agencies to provide development loans in rural areas. NABARD is the special bank of India for agriculture and rural development in India.
  • NABARD’s international partners include organizations linked to the World Bank and global development agencies working in the fields of agriculture and rural development.

Responsibilities

  • It serves as the primary financing agency for various rural development programs.
  • Purification and regulation of financial institutions providing financial assistance to the rural sector.
  • It manages cooperative banks and RRBs and manages talent through IBPS CWE.
  • It provides training facilities to institutions working for rural development.

What Is The Full Form Of NABARD?

NABARD full form stands for National Bank for Agriculture and Rural Development. It was set up to device the National Agriculture and Rural Development Act, 1981. NABARD is actively working to promote and implement financial inclusion.

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