Explain the role and Functions of NABARD in providing Agricultural credit:-
On the recommendations of shivaraman committee, appointed by the Reserve Bank Of India in march, 1979, to study the problems relating to Agricultural credit, National Bank for Agriculture and Rural Development was established on July 12, 1982.
NABARD role in rural development in India is phenomenal. National Bank For Agriculture & Rural Development (NABARD) is set up as an apex Development Bank by the Government of India with a mandate for facilitating credit flow for promotion and development of agriculture, cottage and village industries.
Role of NABARD:-
It is an apex institution which has power to deal with all matters concerning policy, planning as well as operations in giving credit for agriculture and other economic activities in the rural areas. ... It prepares rural credit plans, annually, for all districts in the country.
Dr. Harsh Kumar Bhanwala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013.
Functions of NABARD:-
There are three types of functions of NABARD:-
1.Credit Functions:-
(i) Re- finance Facility
Refinance to Rural Financial Institutions for investment credit (long term loan) and production and marketing credit (short term loan) purposes for farm and off-farm activities in rural areas.
(ii) Loans to State Governments for developing rural infrastructure and strengthening of the Cooperative Credit Structure
(iii)Loans for warehousing infrastructure to State Governments, State/ Central government Owned/ assisted entities, Cooperatives, Federation of cooperatives, Farmers’ Producers Organizations,(FPOs), Federations of Farmers’ Collectives, Primary Agricultural Credit Societies (PACS) / Cooperative Marketing Societies (CMS) or similar institutions, Corporates/ Companies, Individual entrepreneurs, etc.,
(iv) Direct lending to Cooperatives and Producers’ Organization, support to State owned institutions /corporations under (v) NABARD Infrastructure Development Assistance and direct lending to individuals, partnership firms, corporates, NGOs, MFIs, Farmers’ collectives etc. under Umbrella Programme for Natural Resource Management (UPNRM) Pass through agency of select Government of India Capital Investment Subsidy Schemes.
2. Regulatory functions:-
(i) Inspection of cooperative societies and RRBs.
(ii) Permission to open a branch of RRBs & cooperative societies forward by NABARD to RBI.
(iii) Submission of Returns copy to NABARD Also.
Power of taking information from the cooperative societies and banks.
3. Development Functions:-
(i) Formulate credit plans, build Institution, promote Research & innovations.
(ii) Coordinates the operations of Rural credit agencies, Develop expertise to deal with agricultural & Rural problems.
(iii) Provide facilities for Training & Research to enable them to coordinate to the share capital of eligible.
On the recommendations of shivaraman committee, appointed by the Reserve Bank Of India in march, 1979, to study the problems relating to Agricultural credit, National Bank for Agriculture and Rural Development was established on July 12, 1982.
NABARD role in rural development in India is phenomenal. National Bank For Agriculture & Rural Development (NABARD) is set up as an apex Development Bank by the Government of India with a mandate for facilitating credit flow for promotion and development of agriculture, cottage and village industries.
Role of NABARD:-
It is an apex institution which has power to deal with all matters concerning policy, planning as well as operations in giving credit for agriculture and other economic activities in the rural areas. ... It prepares rural credit plans, annually, for all districts in the country.
Dr. Harsh Kumar Bhanwala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) since December 18, 2013.
Functions of NABARD:-
There are three types of functions of NABARD:-
1.Credit Functions:-
(i) Re- finance Facility
Refinance to Rural Financial Institutions for investment credit (long term loan) and production and marketing credit (short term loan) purposes for farm and off-farm activities in rural areas.
(ii) Loans to State Governments for developing rural infrastructure and strengthening of the Cooperative Credit Structure
(iii)Loans for warehousing infrastructure to State Governments, State/ Central government Owned/ assisted entities, Cooperatives, Federation of cooperatives, Farmers’ Producers Organizations,(FPOs), Federations of Farmers’ Collectives, Primary Agricultural Credit Societies (PACS) / Cooperative Marketing Societies (CMS) or similar institutions, Corporates/ Companies, Individual entrepreneurs, etc.,
(iv) Direct lending to Cooperatives and Producers’ Organization, support to State owned institutions /corporations under (v) NABARD Infrastructure Development Assistance and direct lending to individuals, partnership firms, corporates, NGOs, MFIs, Farmers’ collectives etc. under Umbrella Programme for Natural Resource Management (UPNRM) Pass through agency of select Government of India Capital Investment Subsidy Schemes.
2. Regulatory functions:-
(i) Inspection of cooperative societies and RRBs.
(ii) Permission to open a branch of RRBs & cooperative societies forward by NABARD to RBI.
(iii) Submission of Returns copy to NABARD Also.
Power of taking information from the cooperative societies and banks.
3. Development Functions:-
(i) Formulate credit plans, build Institution, promote Research & innovations.
(ii) Coordinates the operations of Rural credit agencies, Develop expertise to deal with agricultural & Rural problems.
(iii) Provide facilities for Training & Research to enable them to coordinate to the share capital of eligible.
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