NABARD Full Form - Functions, Recruitment, Eligibility, Selection

The full form of NABARD is the 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.’

Table of Contents

• What is NABARD Full Form?
• History of NABARD
• Functions of NABARD
• NABARD Eligibility Criteria
• NABARD Registration Process
  • NABARD Important Dates 2022
• NABARD Selection Process
• NABARD Achievements

What is the Full Form of NABARD?

National Bank of Agriculture and Rural Development is the full form of NABARD. This development finance institution 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 is assigned specific responsibilities and objectives.

Official Website of NABARD: www.nabard.org

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 re-finance 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

NABARD is an apex institution that can 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 functions of the National Bank of Agriculture and Rural Development are:

• The organization works as a re-financing 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 co-operative banks.
• It communicates and consults the RBI in matters such as issuing licenses for new banks and opening the branches of rural banks.
• Help banks to improve their MIS systems, modernize their technology, and develop human resources.
• It promotes rural industries, small scale and cottage industries by providing loans to commercial and Cooperative banks.
• During natural calamities, such as droughts, crop failure and floods, the bank helps by re-financing 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).

NABARD Eligibility Criteria

Aspirants must have passed graduation in the relevant discipline with an aggregate 50% mark. The minimum age required for applying must be 18 years and a maximum of 35 years.

Tabulated below is NABARD eligibility criteria.

NABARD Registration Process

NABARD registration process can be carried out online on their official website.

Follow the online registration process mentioned to get your unique registration number and password.

• Visit the official website of NABARD.
• Click on the link ‘Apply Online.’
• Select the tab ‘Click here for New Registration,.’
• Candidates must enter their name, contact details, and email ID.
• It will generate a provisional registration number and password.

NABARD Important Dates 2022

Here the aspirants can find the NABARD 2022 exam dates:

NABARD Selection Process

The applicant has to go through the Preliminary Examination, Mains Examination, after which they will conduct the interview.

NABARD Vacancies

There are over 3000 vacancies for the post of Officers in Grade ‘A’ as expected in NABARD 2021.

NABARD Achievements

NABARD has brought a considerable increase in the rural finance and development of small scale and cottage industries. In short-term credit, they distributed INR 4,000 crores during the 90s compared to INR 1,200 crores during the 80s.

NABARD has also played a major role in improving storage facilities for agricultural commodities in the country. In addition, it has promoted the export of agricultural commodities like vegetables and fruits. Thus, it has played a supplementary role in sustaining the Green Revolution in the country.