Do you know what is the NABARD Full Form? The full form of NABARD is “National Bank for Agriculture and Rural Development“. National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India that focuses on rural and agricultural development. NABARD was established in 1982 and is headquartered in Mumbai.
It is owned by the Government of India and plays a crucial role in the development of various sectors in rural India. NABARD provides financial assistance and support to various institutions, including farmers, rural entrepreneurs, and cooperatives, to promote sustainable agriculture and rural development.
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What is the NABARD Full Form?
NABARD Full Form – National Bank for Agriculture and Rural Development
What is NABARD and its History
NABARD was established on the recommendations of the Shivaraman Committee, which was appointed by the Reserve Bank of India in 1979. The committee was established to review the institutional credit policies for rural and agricultural development. The Reserve Bank of India’s Agricultural Credit Department (ACD), Rural Planning and Credit Cell (RPCC), and Agricultural Refinance and Development Corporation (ARDC) were all replaced by NABARD.
The Government of India holds the majority share in NABARD, and its other shareholders include the Reserve Bank of India, state governments, and some other financial institutions.
NABARD’s Role in Agriculture and Rural Development
NABARD plays a crucial role in promoting agriculture and rural development in India. It provides long-term credit, refinances, and other financial services to farmers, rural entrepreneurs, and institutions involved in agriculture and rural development activities. NABARD also provides technical and promotional support to these institutions.
NABARD also plays a significant role in the development of the rural sector by providing various credit facilities, such as investment credit, working capital credit, and other credit facilities, for the development of agriculture and allied sectors.
Functions and Objectives of NABARD
NABARD’s main functions include providing credit facilities to support agriculture and rural development, promoting research and development in agriculture, and providing funding for infrastructure development in rural areas.
Other functions of NABARD include:
- Promoting sustainable agriculture practices
- Providing technical assistance and training to farmers and rural entrepreneurs
- Supporting rural artisans and craftspeople
- Promoting the development of cottage and small-scale industries in rural areas
Objectives of NABARD include:
NABARD aims to achieve the following objectives:
- To provide credit and other financial services for agriculture and rural development
- To promote sustainable and equitable agricultural production and rural livelihoods
- To develop rural infrastructure and promote rural entrepreneurship
- To provide technical assistance and training for farmers and rural entrepreneurs
- To promote research and development in agriculture and rural development
How to Appy in NABARD?
To apply to NABARD the Applicant must meet the following eligibility criteria and must review the registration process and selection process:
Eligibility Criteria
To apply for NABARD, candidates need a relevant graduation degree with 50% marks and should be aged between 18 to 35 years. Age relaxation is available for SC/ST (5 years), OBC (3 years), and PWD (10 years) candidates. PWD SC/ST candidates can avail of 15 years of age relaxation.
Registration Process
To register/apply for NABARD, follow these steps:
- Go to the official NABARD website.
- Click on ‘Apply Online.’
- Choose ‘Click here for New Registration.’
- Enter your name, contact information, and email ID.
- You will receive a provisional registration number and password.
Selection Process
To be considered for the position, the candidate must pass the Preliminary Examination, Mains Examination, and an interview.
FAQs- What Is The NABARD Full Form?
Q.1. What is the NABARD Full Form?
Ans. NABARD stands for National Bank for Agriculture and Rural Development.
Q.2. When was NABARD established?
Ans. NABARD was established in 1982.
Q.3. Where is NABARD headquartered?
Ans. NABARD is headquartered in Mumbai, India.
Q.4. What is the purpose of NABARD?
Ans. NABARD’s main objective is to promote sustainable agricultural and rural development in India.
Q.5. Is NABARD a government-owned organization?
Ans. Yes, NABARD is a government-owned organization.
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