Question

Explain the role of NABARD in rural credit.

Answer 1

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The National Bank for Agriculture And Rural Development is popularly referred to as NABARD.

NABARD is designated as an apex development bank in the country.This national bank was established in 1982 by a Special Act of the Parliament, with a manadate to uplift rural India by facilitating credit flow in agriculture, cottage and village industries, handicrafts and small-scale industries. It is also required to support non-farm sector while promoting other allied economic activities in rural areas. NABARD functions to promote sustainable rural development for attaining prosperity of rural areas in India.

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