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NABARD — National Bank for Agricultural and Rural Development
NABARD Full-Form refers to the National Bank for Agricultural and Rural Development. NABARD is a developmental bank that deals with the issues regarding the operations, planning and policies for agriculture in India. NABARD develops the financial inclusion policies and is an important member of the AFI or Alliance for Financial Inclusion. The headquarters of this bank is in Mumbai. NABARD has played an important role in establishing social enterprises and social innovations in Indian rural areas.
During this process, it has formed partnerships with nearly four thousand organizations in order to carry out many interventions. These interventions include the initiative to increase the productivity of crops using the lead crop initiative, the conservation of water and soil through the watershed approach, the SHG-Bank linkage programs, and flow of information to the agricultural communities by forming farmer clubs and livelihood initiatives for tribal communities. It pays a large number of taxes in spite of doing numerous developmental works.
NABARD also takes measures towards the building of an institution that can improve the absorptive capacity of the delivery systems like personnel training, rehabilitation scheme’s formation, monitoring and credit institutes’ restructuring. It also evaluates and monitors those projects which have been refinanced by the NABARD itself. It participates in developing institutes that can help in the development of rural areas. It keeps a constant check on its clients and is responsible for the regulations of the institutes that give financial aid to the economy of the rural areas.
The refinanced facility of NABARD is made available to the cooperative rural developmental and agricultural banks, commercial banks, regional rural banks and state cooperative banks. The ultimate investment credit’s beneficiaries can include state-owned corporations, partnership concerns, co-operative societies, companies, and individuals. However, individuals are usually given production credit. The CGM or Chief General Manager is the head of the RO or Regional Office of NABARD. There are numerous top executives in the Head Office. These top executives include the Chairperson, MI) or Managing Directors, and ED or Executive Directors. NABARD has more than three hundred district offices throughout India.