National Bank for Agriculture and Rural Development (NABARD)
Emergence and Establishment:
NABARD was established on July 12, 1982, by a special Act of Parliament.
It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of the Reserve Bank of India (RBI).
Role and Functions:
NABARD focuses on agricultural and rural development by promoting sustainable and equitable agriculture and rural prosperity.
It provides financial and developmental support to India’s rural and agricultural sectors.
NABARD extends its assistance to farmers, rural entrepreneurs, and cooperative credit institutions.