Important Points Remember about NABARD

NABARD Means National Bank For Agricultural and Rural Development

National Bank For Agricultural and Rural Development is an apex development bank in India. The committee to review arrangement for Agricultural and Rural Development CRAFICRAD under the championship of Shri B.Sivaraman, conceived the recommended the establishment of National Bank For Agricultural and Rural Development

The committee to review Arrangements for Institutional credit  for Agricultural and Rural Development was set up by the Reserve Bank of India. NABARD was established on 12 July 1982 by special act by the parliament

The main objective behind the setup of National Bank For Agricultural and Rural Development was to uplift rural India by increasing the credit flow for elevation of agriculture & rural non farm sector.

Government of India holds 99% stake in National Bank For Agricultural and Rural Development

 and currently 1% is held by the RBI, initially the RBI held 72.5% of equity in NABARD but in October 2012 RBI has divested 71.5% state amounting to 1430/- core in NABARD in favor of government.

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

National Bank For Agricultural and Rural Development replaced the ACD(Agricultural Credit Department) and RPCC(Rural Planning Credit Cell) of RBI, and ARDC(Agricultural  Refinance Development Corporation)

Headquarters of NABARD is situated in Mumbai, Maharashtra

Important Points Remember about NABARD :

1.National Bank For Agricultural and Rural Development is a apex development bank in India

2. NABARD was established on the recommendation of Shivaraman Committee

3. NABARD was established by an act of parliament on 12 July 1982 to implement th NABARD act 1981

4. NABARD replaced the ACD(Agricultural Credit Department) and RPCC(Rural Planning Credit Cell) of RBI, and ARDC(Agricultural  Refinance Development Corporation)

5. HQ of NABARD is Mumbai

6. NABARD completed its 25 years on 12 July 2007 and completed 30 years in 12 July 2012

7. NABARD announced Rural innovation award to celebrate it's 30th foundation day