National Bank for Agriculture and Rural Development (NABARD)

Concept: National Bank for Agriculture and Rural Development (NABARD)
Topic: Indian Polity, Governance
Category: Government policies and interventions for development in various sectors
Related News: Hindu, Mar 26
CNA mentions: 1(Mar 26)

National Bank for Agriculture and Rural Development (NABARD)

NABARD is the acronym for India’s apex development bank, which is the National Bank for Agriculture and Rural Development. With headquarters in Mumbai, NABARD has branches across India. CRAFICARD or the Committee to Review Arrangements of Institutional Credit for Agriculture and Rural Development recommended that establishment of a developmental bank and accordingly, NABARD was set up on 12th July 1982. It was formed by a special parliamentary act. The chief focus of the organisation was the advancement of rural India by enhancing the flow of credit for the upliftment of agriculture as well as the rural non-agricultural sector. As of 2017, it completed 35 years of its existence.