National Bank for Agriculture and Rural Development (NABARD)
What is NABARD?
Here are some of the subsidiaries of the National Bank for Agriculture and Rural Development (NABARD) as of my last update:
NABKISAN Finance Limited: NABKISAN Finance Limited is a subsidiary of NABARD that focuses on providing financial products and services to farmers and rural businesses. It aims to enhance financial inclusion in rural areas.
NABVENTURES Limited: NABVENTURES is a subsidiary of NABARD that works on promoting and supporting startups and innovations in the agriculture and rural development sectors. It focuses on investing in ventures that align with NABARD’s developmental objectives.
Functions of NABARD
The National Bank for Agriculture and Rural Development (NABARD) in India performs a variety of functions aimed at promoting rural development, agricultural growth, and financial inclusion. Here are some of the key functions of NABARD:
Credit Function:
- Refinancing: NABARD provides refinance facilities to cooperative banks, regional rural banks (RRBs), and other financial institutions for lending to agriculture and rural development projects.
- Direct Lending: NABARD directly extends credit to state governments, state-owned corporations, and other agencies for specified projects.
Development Function:
- Rural Infrastructure Development: NABARD supports the development of rural infrastructure, including irrigation, rural roads, and storage facilities, to improve the overall economic conditions in rural areas.
- Watershed Development: It promotes watershed management projects to enhance water availability and promote sustainable agricultural practices.
- Rural Innovation and Technology Adoption: NABARD encourages the adoption of innovative technologies in agriculture and rural enterprises to improve productivity and income levels.
- NABARD has a supervisory role over cooperative banks and RRBs to ensure the stability of the rural credit system. It conducts inspections and provides guidance to strengthen the financial health of these institutions
- NABARD supports the development of microfinance institutions (MFIs) and self-help groups (SHGs) to enhance financial inclusion and empower rural communities economically
- NABARD engages in research activities to identify and promote best practices in agriculture and rural development. It focuses on finding sustainable solutions to challenges faced by rural communities
- NABARD plays an active role in advocating policies and initiatives that contribute to the overall development of agriculture and rural sectors in collaboration with the government and other stakeholders
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