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• National Bank For Agriculture And Rural Development

National Bank For Agriculture And Rural Development

National Bank for Agriculture and Rural Development (NABARD) is the vital establishment for regulating all Regional Rural Banks and other Cooperative banks in India. We have branches in all states of India and supervise the State Cooperative Banks, District Cooperative Central Banks and It has more than 32 regional offices and partners 4000 plus organisations and does formulation of rehabilitation schemes, Develop rural economy, Assisting Self Help Groups and others.

Factsheet of National Bank For Agriculture And Rural Development

Bank Name	National Bank For Agriculture And Rural Development
Founded in	July 12, 1982
Promoters/founders	Recommendations of B.Sivaramman Committee
Headquarter Address	National Bank For Agriculture And Rural Development Plot C-24, G Block Bandra Kurla Complex BKC Road Bandra East---400051 Mumbai Maharashtra
Employee's	NA
Type of Bank	Public Sector Undertaking (PSU) Bank
Official Website	https://www.nabard.org/
Customer Care Number	022- 26539895, 022- 26539896, 022 -26539899

History of National Bank For Agriculture And Rural Development

National Bank For Agriculture And Rural Development is the establishment created in order to boost the rural economy. The Reserve Bank established a Government of India, and created a new Committee to Review the Arrangements For Institutional Credit for Agriculture and Rural Development. This committee was created on March 30,1979 under  Shri B. Sivaraman, former member of Planning Commission, Government of India. They encouraged the creation of a new establishment that would address the aspirations of the farmers in India and National Bank for Agriculture and Rural Development (NABARD) was created as per the Parliament Act 61 of 1981. On November 5th 1982 Smt Indira Gandhi dedicated this establishment to the nation. This establishment is governed by the Government of India.  NABARD operates more than 32 Regional Offices in India and is headquartered in Mumbai.

The government appoints the Chairman of NABARD and Shri Govinda Rajulu Chintala is the chairman of National Bank for Agriculture and Rural Development.

Banking Services offered by National Bank For Agriculture And Rural Development

There are various banking services that are offered by the National Bank For Agriculture And Rural Development and they are as follows:

• Refinancing the backward areas of our nation.
• Designed the Kissan Credit Card in order to benefit many farmers in the country.
• Encouraging the control and regulation of Regional Rural Banks and Cooperative Banks.
• Encouraging the growth and development of good banking practices and improve backward areas.
• Creation of credit plans at local and district level and encourage the banks to achieve those targets.
• Supervising the working of the State Cooperative Banks, District Cooperative and Regional Rural Banks and doing surprise checks and regular inspections.

Loans and credit facilities provided by National Bank For Agriculture And Rural Development

There are various credit and loan services that are offered by the National Bank for Agricultural and Rural Development and they are:

• Interest Subvention Schemes.
• Introduction of Daily Entrepreneurship Development Schemes.
• Providing lot of loans for Agricultural Establishments and Agricultural Business Centres in the nation.
• National Project on Organic Activities to improve output of Organic Crops like  crop rotation, green manures and compost.
• Promote sustainable and equitable agriculture and rural development through various financial and non-financial intervention.
• Loan-linked grant support is available to the Food Processing Organisations for promotion, capacity building & market interventions.
• NABARD Infrastructure Development Assistance (NIDA) offers flexible long-term loans to public sector institutions for financing rural infrastructure.
• NABARD’s Natural Resource Management (NRM) policy of providing sustainable livelihoods, NABARD gave importance for holistic development of the tribals.
• NABARD's long-term refinance provides credit to financial institutions for various activities dealing with the farm/non-farm activities with duration of 18 months to more than 5 years.
• We encourage the setting up of the Watershed Development Fund (WDF) in National Bank for Agriculture and Rural Development (NABARD) with clear cut objectives of combining the watershed development programmes into a single national initiative taking the assistance of the village level institutions and Project Facilitating Agencies (PFAs).

Awards and Recognition

• NABARD has been congratulated for enhancing the development of the Agricultural Development Clusters in India.
• NABARD was given accolades for diverting some funds towards successful execution of Pradhana Mantri Grameen Awas Yojana PMGAY.
• NABARD is always recognised for giving long term financial support for investment credit in agriculture activities exclusively for Cooperative Banks (State Cooperative Banks and State Cooperative Agriculture and Rural Development Banks) in India.

 

National Bank For Agriculture And Rural Development has 1 IFSC connected branches in India. Bank has branches in following states:

MAHARASHTRA