What is the full form of NABARD?

The full form of NABARD is the National Bank for Agriculture and Rural Development. It was established on 12 July 1982 by a parliamentary act enforcing the 1981 National Bank for Agriculture and Rural Development Act.

It is an apex development community that provides small-scale manufacturing, agriculture, cottage industries and other small-scale rural enterprises with a credit flow service. NABARD’s headquarter is located in Mumbai, Maharashtra, and has branches throughout the country.

A brief history of NABARD

• NABARD was founded on 12 July 1982 at the suggestion of the Shivaraman Committee.
• It was found & implement the National Bank for Agriculture and Rural Development Act 1981.
• NABARD’s initial capital was 100 crore.

Functions of NABARD

A collection of certain impressive NABARD functions is provided below:

• It serves as the apex support agency for different rural development programs.
• The financial institutions that fund the rural sector are refined and controlled.
• It is regulated by cooperative banks, and via CWE, IBPS handles creativity.
• It offers educational facilities for rural development agencies.