NABARD Full Form 2020: What does NABARD Stand for?

NABARD Full Form 2020:- The Full form of NABARD is National Bank For Agriculture and Rural Development. NABARD is a Government organization establish date of NABARD was 12th July 1982. Its headquarter is in Mumbai, Maharashtra. NABARD was established to work ‘development assistance’ and ‘poverty reduction’. In this article we are going to discuss NABARD Full form, What Does it stand for? NABARD Functions and other details related to NABARD.

What does NABARD Stand for?

NABARD Full form is National Bank For Agriculture and Rural Development. NABARD works closely in the field of credit for agriculture and other activities in the rural areas of India. NABARD has number of offices in the country having several departments with each of them assigned specific objectives and responsibilities. The Present Chairman of NABARD is Harsh Kumar Bhanwala.

History of NABARD

Earlier RBI was actively involved with agricultural finance which gradually started becoming difficult and the Agricultural Refinance and Development Corporation (ARDC) was unable to fulfill the requirements of refinancing. Therefore, RBI decided to distance itself from the agricultural finance and that’s when a committee was set up under Mr.Sivaraman who was its first chairman. The recommendations given by the Sivaraman committee were accepted and that was followed by the formation of NABARD on 12th July 1982. The present Chairman of NABARD is Dr. Harsh Kumar Bhanwala.

NABARD Functions and Roles

NABARD is the financial institution that deals with the development of rural areas of India. It is majorly responsible for sorting out the financial requirements of rural India, especially the farmers.

Some of the main NABARD functions are the following :

1. NABARD provides refinance facility to the agricultural sector.
2. It deals with the matters concerned with ‘policy, planning and operations’ in the agricultural sector and other developmental activities in rural India.
3. It also refinances the institutions that provide financial aid to rural areas.
4. It is also involved in training the institutions that are working towards the upliftment of the rural areas.
5. It is also responsible for the implementation of the programs aimed at rural development.
6. Regulation and supervision of the RRBs is another important role of NABARD. It supervises State Cooperative Banks (SCBs), District Cooperative Central Banks (DCCBs), and Regional Rural Banks (RRBs).

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NABARD Full Form 2020: FAQ’s

Q.What is the Full form of NABARD?

Ans:- NABARD Full Form means NABARD ka full form is National Bank For Agriculture and Rural Development. 

Q.When is the Establish date of NABARD?

Ans:- The Establish date of NABARD is 12th July 1982.

Q. Who is the Present Chairman of NABARD?

Ans:- The Present Chairman of NABARD is Harsh Kumar Bhanwala. 

Q. What is NABARD Functions?

Ans:- The main NABARD function is sorting out the financial requirements of rural India, especially the farmers.