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National Bank For Agricultural And Rural Development

NATIONAL BANK FOR AGRICULTURAL AND RURAL DEVELOPMENT

Origin Of National Bank for agricultural and rural development

The National Bank for agricultural and rural development was set up on July 12, 1982, based on the Recommendation of the All India rural credit survey committee under an act of Parliament as a central or apex institution for financing agricultural and rural sectors. It has taken over the functions of Agricultural Refinance and Development Corporation (ARDC) and Agricultural credit department of Reserve Bank of India.

Capital Of National Bank for agricultural and rural development

The National Bank for Agricultural and Rural Development Functioning with the paid up capital of Rs. 100 crore which is subscribed by Government and Reserve Bank of India in equal amount. Further capital can be raised from the special borrowings from the Central Government.

finance
[Post Image Courtesy of Stuart Miles at FreeDigitalPhotos.net]


Objectives of National Bank for agricultural and rural development

The main objectives of National Bank for Agricultural and Rural Development are as follows:

• To provides refinance assistance for agriculture, Small Scale Industries and Village Industries.

• To undertakes promotional activities for integrated rural development

• To coordinates agricultural finance alongwith the state government

• To undertakes research and development in agriculture, rural industries

Functions of National Bank for agricultural and rural development

The National Bank for agricultural and rural development discharges are:

1. It provides all sorts of reference to Co-operatives, Commercial Banks, and Regional Rural Banks, in respect the above three agencies and advices the government thereon. It makes loans to state government to enable them to subscribe to the share capital of co-operative bank.

2. It helps in promoting research in agriculture and rural development. National bank for agricultural and rural development undertakes evaluation and monitoring projects financed by it. It is responsible for the development, operation and co-ordination relating to rural credit.

Management Of National Bank for agricultural and rural development

National Bank for Agricultural and Rural Development is wholly owned by central government, hence it is managed by the central government constituted management board.

Working Result of National Bank for agricultural and rural development

National Bank for Agricultural and Rural Development operates through 28 regional offices, 336 district offices, one sub-office at Port blair and one special cell in Srinagar during the year 1986. National Bank for Agricultural and Rural Development sanctioned short-term credit to Small Scale Industries Rs. 400 crore and it has increased to Rs. 1200 crore in the year 1990-91. Nearly Rs. 400 crore have been provided as medium term loans to various activities, Rs. 200 crore have been sanctioned as long-term loans contributing to the share capital of co-operative institutions.

National Bank for Agricultural and Rural Development has refinanced banks for implementing the national programmes of mass assistance of small and marginal farmers. It also refinance development activities of the handloom sectors. It extends refinance to state co-operative banks, provide block capital to industrial Co-operative Societies and rural artisans against state government guarantee. Service area approach of commercial banks is supported by National bank for agricultural and rural development through various special assistance.

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