National Bank for Agriculture and Rural Development (NABARD)

National Bank for Agriculture and Rural Development (NABARD)

NABARD has sanctioned a study on the impact evaluation of Geographical Indication (GI) products.

  • Apex banking institution to provide finance for Agriculture and rural development.
  • Headquarters – Mumbai
  • Mandate – Responsible for the development of the small industries, cottage industries, and any other such village or rural projects.
  • Status – Statutory body established in 1982 under National Bank for Agriculture and Rural Development Act, 1981.
  • Based on the recommendation of – Shivaraman Committee
  • Governed by – Board of Directors, who are appointed by the Union government
  • Implements rural development projects of the World Bank, commercial banks (CBs), and other financial institutions approved by RBI.
  • Supervises Cooperative Banks and Regional Rural Banks (RRBs) and integrate them to the CBS (Core Banking Solution) platform.
  • Core Banking Solution (CBS) – Networking of branches which enables customers to operate their accounts, and avail banking services from any branch of the Bank, regardless of where he maintains his account.
  • Functions of the 3 institutes of RBI were transferred to NABARD
    • Agricultural Credit Department (ACD)
    • Rural Planning and Credit Cell (RPCC)
    • Agricultural Refinance and Development Corporation (ARDC)
  • Integrated Tribal Development Programme – Implemented by NABARD, aiming to provide sustainable livelihoods to tribal families of the country.
  • Kisan Credit Card Scheme – Designed by NABARD to enable farmers to meet their credit requirements for agriculture and allied activities.
  • Climate Change Fund – Constituted from the profits of NABARD to address the impacts of climate change
  • E-Shakti – Project developed by NABARD for the digitization of all members of the Self Help Group (SHG) in India.

Source: The Hindu


Previous Year Question

Which of the following is not included in the assets of a commercial bank in India?

[UPSC Civil Service Exam – 2019 Prelims]

(a) Advances
(b) Deposits
(c) Investments
(d) Money at call and short notice

Answer: (b)


Practice Question

Consider the following statements regarding NABARD:

  1. It is a statutory body established in 1982 under the recommendation of Shivaraman Committee.
  2. It supervises Cooperative Banks and Regional Rural Banks (RRBs) and integrate them to the CBS (Core Banking Solution) platform.

Which of the statements is/are correct?

 
 
 
 

Question 1 of 1

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