Asian Journal of Management and Commerce
2020, Vol. 1, Issue 2, Part A
Nabard: A Boom to Agriculture & Rural economy in India
Author(s): Dr. Raman Kumar Jha
Abstract: NABARD is now the foremost and the apex institution in the field of providing credit for agriculture and other rural activities that involve financing. It is also the institution that is accredited with matters relating to policy Planning and other operations relating to agricultural economic financing. The preamble of the NABARD Act. Mentions the following objectives for the rural based bank, its primary function should be to promote agriculture, provide credit aid small scale industries whether cottage or village handicrafts and other rural crafts and activities that are associated with it. The prosperity of rural areas is it most major concern.NABARD not only improves absorptive of the credit delivery system to the rural areas which performing the task of monitoring and the formulation of rehabilitation schemes to rescue the rural farmers but it also adds the initiatives of training personnel are equipped with information and methods to help the rural sector majority of which is uneducated. The rural bank also maintains its collaboration with the state and other bodies in order to maintain its objectives such as the Govt. Of India the states Govt. and the RBI itself the development at the grassroots level is maintained through this association various state bodies. The collaboration also involves major policy formulation as well. Being the apex agency it refinances and provides investments and production credit for the promotion of rural area development.The bank is also responsible for preparing annual credit plans for all rural financing and their institutions annually. It also monitors the projects that are refinanced by it and it evaluates them as well. NABARD not only maintains its financial and economical role but also performs social duties as well by promoting research in fields of rural banking, innovations in agriculture and rural development as well.
Pages: 35-37 | Views: 86 | Downloads: 38
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How to cite this article:
Dr. Raman Kumar Jha. Nabard: A Boom to Agriculture & Rural economy in India. Asian J Manage Commerce 2020;1(2):35-37.