NABARD is an apex development bank, having headquarter in Mumbai (Maharashtra). It was set up by the Reserve Bank of India on 12 July 1982 under the chairmanship of Shri B. Sivaraman. It has branches all over the country. NABARD is designated with a mandate to aid development and promotion of agriculture, small scale industries, Cottage and village industries, handicrafts and other rural crafts by providing and regulating credit and other facilities.
Roles and functions of NABARD: - It plays following important roles.
Apart from the above milestones NABARD’s activities are: -
A. Business Operations: - It includes: -
1. Production Credits
2. Investment Risks
3. Rural infrastructure Development Fund
B. Development initiatives: -
1. Watershed development Board
2. Farmers’ Club
3. Tribal development fund
4. Umbrella program on natural resource Management etc.
C. New Business initiatives: -
1. Producers organizations Development Fund.
2. NABARD Infrastructure Development Assistance.
3. Support to develop PACS as Multi Service Centers.