National Bank for Agriculture and Rural Development facts for kids
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नाबार्ड | নাবাৰ্ড | నాబార్డ్ | ನಬಾರ್ಡ್ | നബാർഡ്| نابارڈ | ନାବାର୍ଡ |
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NABARD Head-office, Mumbai
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NABARD's Logo
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| Predecessor | Agricultural Refinance and Development Corporation |
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| Formation | 12 July 1982 |
| Type | All India Financial Institution / Regulatory Body |
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| Headquarters | Mumbai, India |
| Owner | Ministry of Finance, Government of India |
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Chairman
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Shaji K V |
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Development Finance Institution of
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 India |
| Subsidiaries | NABkisan, NABsamruddhi, NABfins, NABsanrakshan, NABfoundation, NABcons, NABventure |
| NABARD Act 1981 [1] | |
The National Bank for Agriculture and Rural Development (NABARD) is a very important bank in India. It helps develop farming and villages across the country. Think of it as a special bank that makes sure other banks give loans for agriculture and rural projects. It also keeps an eye on how these banks work. NABARD was created by a special law passed by the Parliament of India in 1981. It is fully owned by the Government of India.
Contents
History of NABARD
The Indian government always knew that giving loans was key to helping villages grow. So, the Reserve Bank of India (RBI) set up a special committee. This committee was formed on March 30, 1979. Its job was to look at how money was given out for farming and village development.
The committee suggested creating a new organization. This new group would focus only on loans for rural development. This idea led to the creation of NABARD. The Parliament of India approved it with a special law in 1981.
NABARD officially started on July 12, 1982. It took over the farming loan work from RBI. It also took over the refinancing work from another group called ARDC. The late Prime Minister Smt. Indira Gandhi dedicated NABARD to the nation on November 5, 1982. It started with about Rs.100 crore (1 billion rupees). Today, it is fully owned by the Government of India.
Working with International Partners
NABARD works with many groups from around the world. These groups help NABARD with advice and money. Their goal is to improve life in rural areas. They also help make farming better.
World Bank
The World Bank is a big international organization. It works with NABARD to help people in villages. They give advice and money to improve farming. This helps make life better for rural communities.
United Nations Development Programme (UNDP)
The UNDP and NABARD have a special agreement. They work together to use data and new ideas in farming. This helps small farmers. They share information and technology. They also help create new farming policies.
KfW
KfW is a German development bank. It works with NABARD on many projects in India. These projects include helping tribal communities. They also focus on managing natural resources like water and soil. These programs help solve problems in rural areas.
Women's World Banking
Women's World Banking and NABARD work together to help more people use banking services. They promote a program called Jan Dhan Plus. This program helps people, especially women, use basic financial services. Their goal is to empower women in rural areas.
NABARD's Main Roles
NABARD plays a huge role in helping villages and new ideas grow. As of May 2023, NABARD has 31 offices across India. It works with about 4000 partner organizations. These partners help with many projects. For example, they help groups of women get loans. They also help farmers learn new techniques. NABARD also pays a lot in taxes to the government. It uses almost all its profits to help develop rural areas. NABARD's work can be divided into three main parts:
1. Refinancing
NABARD is like a top bank for other banks. It gives money to banks that lend to farmers and rural businesses. It helps coordinate all the banks working in rural areas. It also works with the Government of India and the Reserve Bank of India. NABARD also gets money from the World Bank and Asian Development Bank. It then gives this money to other banks. These banks then lend to individuals, companies, or groups.
2. Banking Supervision
NABARD checks on how certain banks are working. These include State Cooperative Banks and Regional Rural Banks. It makes sure these banks follow the rules. It also helps these banks become stronger. This includes training their staff. NABARD also checks on the projects it has helped fund.
3. Development
NABARD is famous for its 'SHG Bank Linkage Programme'. This program encourages banks to lend money to self-help groups (SHGs). Most SHGs are made up of poor women. This program has become a very important way to provide small loans in India. By March 2006, over 22 lakh (2.2 million) SHGs were linked to banks. This helped 3.3 crore (33 million) members get loans.
NABARD also has programs for managing natural resources. These include projects for watershed development. They also help tribal communities and promote new farming ideas. These programs use special funds set up for these purposes.
Regional Offices and Structure
NABARD's main office is in Mumbai, India. It also has regional offices in every state. There is also a special office in Srinagar, Jammu and Kashmir. Each Regional Office is led by a Chief General Manager. The Head Office has many top leaders, including the Chairperson. The Government of India appoints these leaders. NABARD also has 336 District Offices across the country. These offices have District Development Managers. It also has six training centers.
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NABARD RO, Jaipur
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NABARD RO, Tiruvananthapuram
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NABARD RO, Lucknow
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NABARD RO, Chandigarh
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NABARD RO, Dehradun
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NABARD RO, Hyderabad
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NABARD RO, Kolkata
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NABARD RO, Aizawl
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NABARD RO, Guwahati
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NABARD RO, Bhubaneswar
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NABARD RO, Delhi
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NABARD RO, Gujarat
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NABARD RO, Shimla
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NABARD RO, Pune
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NABARD RO, Jammu
NABARD's Subsidiary Companies
NABARD has seven smaller companies, called subsidiaries. These companies have their own experts. They focus on specific areas to help rural development.
NABKISAN
NABKISAN's main goal is to give loans. These loans help start or grow businesses in farming. They also support related activities in rural areas. It has helped over 550 farmer groups across India.
NABSAMRUDDHI
NABSAMRUDDHI provides loans for non-farming businesses. This includes microfinance, small and medium businesses, housing, and education. In March 2024, it started a campaign called 'Climate Ready WASH'. This campaign helps women borrowers learn about funding for water and sanitation.
NABFINS
NABFINS gives small loans, called micro-credit. It focuses on helping low-income families, mostly women. It offers these loans at their homes. It aims to balance business goals with helping people.
NABFOUNDATION
NABFOUNDATION is a non-profit part of NABARD. It carries out important projects on its own or with partners. These partners can be other organizations or government groups. In 2021, it started a program to help unemployed youth in Northeast India. This program helps them learn new skills.
NABCONS
NABCONS is NABARD's consulting group. It gives expert advice on all areas of farming and rural development. In 2023, it helped the agriculture department in Kerala. They were creating the first-ever Digital Crop Survey.
NABVENTURES
NABVENTURES manages a special fund of INR 500 crore. This fund invests in new companies. These companies are often startups in farming, food, and rural businesses. They help these new ideas grow.
NABSanrakshan
NABSanrakshan focuses on providing credit guarantees. This helps ensure loans are given for farming and rural development. Its goal is to support fair and lasting growth in these areas.
Rural Innovation and Development
NABARD has done amazing work in developing rural India. The money it provided for farming activities reached Rs 1,57,480 crore in 2005–2006.
NABARD also set up the Rural Innovation Fund. This fund supports new and risky ideas. These ideas must help create jobs and opportunities in villages. It helps individuals, non-profit groups, and local governments. They must have good ideas to improve life in rural areas.
Another important program is the Rural Infrastructure Development Fund (RIDF). Under RIDF, over Rs. 51,283 crore has been approved. This money is for 2,44,651 projects. These projects include irrigation, rural roads, health, and education. They also cover soil conservation and water schemes. The RIDF aims to encourage new ideas in farming and villages.
In 2007–08, NABARD started a new loan program. It is called the 'Umbrella Programme for Natural Resource Management' (UPNRM). This program provides loans at low interest rates. These loans help with activities that manage natural resources.
