ROLE AND FUNCTIONS OF NABARD
• NABARD is designated as an apex development bank in the country.
• This national bank was established in 1982 by a Special Act of the Parliament, with a manadate to uplift rural India by facilitating credit flow in agriculture, cottage and village industries, handicrafts and small-scale industries.
• It is also required to support non-farm sector while promoting other allied economic activities in rural areas. NABARD functions to promote sustainable rural development for attaining prosperity of rural areas in India.
• It is basically concerned with “matters concerning policy, as well as planning and operations in the
• field of credit for agriculture and other economic activities in rural areas in India”.
• It is worth noting with refernce to NABARD that RBI has sold its own stake to the Government of India. Therefore, Government of India holds 99% stake in NABARD.