Established in 1982, National Bank for Agricultural and Rural Development (NABARD) controls and regulates the activities of rural banking institutions. Some of its functions are discussed below.
Functions of National Bank for Agricultural and Rural Development
- To act as the apex rural credit institute: NABARD serves as the apex agency for financial institutions that advance credit for various rural developmental activities.
- To take necessary steps for improving the credit delivery system: NABARD takes appropriate steps or measures to improve the credit delivery system. These measures include monitoring, formulation, restructuring of institutions, and training of manpower.
- To coordinate the rural financing activities: NABARD coordinates the rural financing activities of all credit institutions engaged in developmental work at the grassroots level.
- To refinance and monitor other financial institutions: NABARD refinances institutions that are involved in financing the rural sector. In addition, it also monitors and evaluates the projects that it refinances.
Even after 74 years of Independence, India is still struggling with the problem of poverty. 5 Ways to Reduce Poverty are as follows…
Even after 74 years of Independence, India is still struggling with the problem of poverty. Many reasons can be attributed to the problem of poverty. Some of the Causes of Poverty in India are discussed below.
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