Question

Write short answers of the followings.

What is the role of NABARD in promoting finance for small business?

Answer 1

NABARD was established in 1982 with the main objective of promoting rural development and integrating the efforts in this direction. This agency is the apex banking body that governs the operations, particularly, of the rural and ‘gramin’ banks. The following points highlight the role of NABARD.
i. To provide cheap and easy credit facility to small, cottage and rural industries
ii. To promote and encourage the development of institutions
iii. To monitor and inspect the working of the banks in rural areas
iv. To provide training and other facilities to the rural banks
v. To act as a coordinator and regulator for credit and co-operative institutions.