NABARD is an organisation that was established to improve the developments in the agricultural and rural sectors. Find out about the establishment and the organisation through this article.
Full form of NABARD is National Bank of Agriculture and Rural Development. It is a government organization with its headquarters in Mumbai, Maharashtra. The B.Sivaraman Committee, on July 12, 1982, recommended establishing NABARD by Act 16, 1981 of Parliament. The chief motive to establish this organization was working towards ‘development assistance’ and ‘poverty reduction’. This makes NABARD a ‘development finance institution’. It works in agriculture and other activities in the rural areas of India. NABARD has several offices spread across the country and has several departments, and each of them assigned specific responsibilities and objectives.
History of NABARD
There was an organization called Agriculture Refinance and Development Corporation (ARDC) which came into existence before NABARD, whose aim was to provide re-financing facilities. They linked the RBI and Agricultural Finance with each other, which started becoming difficult, and the Agriculture Refinance and Development Corporation (ARDC) could not meet the refinance requirements. Therefore, RBI distanced itself from the ARDC. Mr Sivaraman who was the chairman of ARDC set up the committee on July 12, 1982.
Functions of NABARD
The functions of NABARD are:
- NABARD is an apex institution which has the power to deal with various matters concerning policy, planning and operation in providing credit for agriculture and other economic activities in the rural areas.
- It prepares rural credit plans every year for all districts in the country.
- The organization works as a refinancing agency for those institutions which provide investment and promotion credit for promoting the several developmental programs for rural development. It also promotes research in rural banking and agriculture and rural development.
- Provide financial support for the commercial banks and Regional Rural Banks, and the training institutes of cooperative banks.
- It communicates and consults the RBI in matters such as issuing of licenses for new banks and to open the branches of rural banks.
- Help banks to improve their MIS System, modernize their technology, and develop human resources.
- It promotes rural industries, small scale and cottage industries by providing loans to commercial and Co-operative banks.
- During natural calamities, such as droughts, crop failure and floods, the bank helps by refinancing commercial and cooperative banks, so that the farmers are tied over their tough period.
- NABARD gives foremost priority to projects formed under the Integrated Rural Development Program (IRDP).
Official Website of NABARD
NABARD Eligibility Criteria
- Aspirants must have passed graduation in the relevant discipline with an aggregate 50% mark.
- Minimum age required for applying must be 18 years and maximum 35 years.
|PWD (SC/ST)||15 years|
NABARD Registration Process
- Visit the official website of NABARD.
- Click on the link ‘Apply Online’.
- Select the tab ‘Click here for New Registration,’.
- Candidates must enter the name, contact details, and email ID.
- It will generate a provisional registration number and password.
NABARD Selection Process
The applicant has to go through the Preliminary Examination, Mains Examination, after which they will conduct the interview.
There are over 3000 vacancies for the post of Officers in Grade ‘A’ as expected in NABARD 2020.
|Post-Assistant Manager (RDBS)||Total Vacancy|
|Land Development- Soil Science||3|
|Human Resource Management||3|
|Agriculture Marketing/Agri-Business Management||2|
NABARD has brought a considerable increase in the rural finance and development of small scale and cottage industries. They distributed INR 4,000 crores during the 90s compared to INR 1,200 crores during the 80s in short-term credit.
NABARD has also played a major role in improving storage facilities for agricultural commodities in the country. It has promoted the export of agricultural commodities like vegetables and fruits. It has played a supplementary role in sustaining the Green Revolution in the country.