Explain in detail objectives and three important Primary functions of NABARD.

Objectives:

1. Promoting rural development activities.

2. Co ordination with state government.

3. Improves small and minor irrigation.

4. Undertakes R&D in agriculture and rural industries.

Functions:

1. Providing loans to the institutions.

2. Provides finance for promoting non form activities.

3. Strengthens the co operative culture.

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NABARD is National Bank for Agriculture and Rural Development.The major functions of NABARD are as follows: 1) It acts as an apex body for meeting the credit needs of all types of agricultural and rural development. 2) It provides refinancing facilities to State Co-operative Banks (SCBs), Land Development Bank (LDBs), Regional Rural Banks (RRBs) and other approved financial institutions for financing rural economic activities. 3) It coordinates all agricultural and rural development activities with the objective of tying them up with planned development activities in the rural sector. 4) It provides short-term, medium-term and long-term credit to SCBs, LDBs, RRBs and approved financial institutions. 5) It provides long-term assistance (not exceeding 20 years) to State Governments. 6) It has the responsibility of inspecting co-operative banks and RRBs. 7) It maintains a research and development fund to promote research in agriculture and rural development. read less

The NABARD has been recognized as the apex institution for agricultural finance. As the name suggests, the bank has been set up not only for agricultural finance but also for the development of rural areas.

Objectives of NABARD:

The main objects of NABARD are as follows:

1. NABARD provides refinance assistance for agriculture, promoting rural development activities. It also provides all necessary finance and assistance to small-scale industries.

2. NABARD in coordination with the State Governments provides agriculture.

3. It improves small and minor irrigation by way of promoting agricultural activities.

4. It undertakes R&D in agriculture, rural industries.

5. NABARD promotes various organizations involved in agricultural production by contributing to their capital.

Thus, the objects of NABARD can be brought under three major heads:

i. Credit function.

ii. Development function.

iii. Promotional function.

Main functions of NABARD:

1. NABARD provides refinancing facilities to Commercial banks, State co-operative banks, Central Co-operative banks, Regional rural banks and Land Development banks.

2. It provides refinancing to agriculture, small-scale industries and other village and cottage industries by lending to commercial banks.

3. It promotes rural industries, small scale and cottage industries including tiny sectors by providing loans to commercial and co-operative banks.

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Objectives of NABARD

The main objects of NABARD are as follows:

1. NABARD provides refinance assistance for agriculture, promoting rural development activities. It also provides all necessary finance and assistance to small scale industries.

2. NABARD in coordination with the State Governments, provides agriculture.

3. It improves small and minor irrigation by way of promoting agricultural activities.

4. It undertakes R&D in agriculture, rural industries.

5. NABARD promotes various organizations involved in agricultural production by contributing to their capital. Thus, the objects of NABARD can be brought under three major heads:

i. Credit function.

ii. Development function.

iii. Promotional function.

Main functions of NABARD:

1. NABARD provides refinancing facilities to Commercial banks, State co-operative banks, Central Co-operative banks, Regional rural banks and Land Development banks.

2. It provides refinancing to agriculture, small scale industries and other village and cottage industries by lending to commercial banks.

3. It promotes rural industries, small scale and cottage industries including tiny sectors by providing loans to commercial and co-operative banks.

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NABARD (National bank for agriculture and rural development). It has been formed to serve following objective: Promote sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology and institutional development for securing prosperity. As it is apex body for meeting the credit needs of all types of agricultural and rural development The major functions of NABARD are as follows: It provides refinancing facilities to State Co-operative Banks (SCBs), Land Development Bank (LDBs), Regional Rural Banks (RRBs) and other approved financial institutions for financing rural economic activities. It co-ordinates all agricultural and rural development activities with the objective of tying them up with planned development activities in the rural sector. It provides short-term, medium-term and long-term credit to SCBs, LDBs, RRBs and approved financial institutions. It provides long-term assistance (not exceeding 20 years) to State Governments. It has the responsibility of inspecting co-operative banks and RRBs. It maintains a research and development fund to promote research in agriculture and rural development. read less

NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts, and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas. In discharging its role as a facilitator for rural prosperity NABARD is entrusted with Providing refinance to lending institutions in rural areas.

The full form of NABARD is National Bank for Agriculture and Rural Development. The major functions of NABARD are as follows:

1. It acts as an apex body for meeting the credit needs of all types of agricultural and rural development.

2. It provides refinancing facilities to State Co-operative Banks (SCBs), Land Development Bank (LDBs), Regional Rural Banks (RRBs) and other approved financial institutions for financing rural economic activities.

3. It coordinates all agricultural and rural development activities with the objective of tying them up with planned development activities in the rural sector.

4. It provides short-term, medium-term and long-term credit to SCBs, LDBs, RRBs, and approved financial institutions.

5. It provides long-term assistance (not exceeding 20 years) to State Governments.

6. It has the responsibility of inspecting co-operative banks and RRBs.

7. It maintains a research and development fund to promote research in agriculture and rural development.

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