Discuss the Role and Functions of National Bank for Agriculture and Ru

Question

Discuss the Role and Functions of National Bank for Agriculture and Rural Development (NABARD).

22 Apr 2024

Answer :

Word Count : 522

The National Bank for Agriculture and Rural Development (NABARD) plays a pivotal role in the economic development of India, particularly in the agricultural and rural sectors. Established in 1982, NABARD operates as an apex development financial institution in India with a primary focus on uplifting rural areas and supporting agriculture-related activities. Its multifaceted role encompasses various functions crucial for the overall growth and sustainability of rural communities and the agricultural sector.

1. **Credit Facilitation**: One of NABARD's primary functions is to provide credit facilities to promote agriculture, rural development, and allied activities. It refinances financial institutions like commercial banks, regional rural banks, and cooperative banks to extend credit to farmers, rural artisans, entrepreneurs, and other stakeholders involved in rural development projects. By ensuring the availability of affordable credit, NABARD contributes ______ ______ _____ ____ _____ ___ _____.
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