NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT (NABARD)

• National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India, headquartered at Mumbai with branches all over India.
• The Bank has been entrusted with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”.
• NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.
• Established on 12^th July 1982 on the recommendation of CRAFICARD committee (also called as  B. Sivaraman Comittee).
• It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC).
• It is one of the premier agencies providing developmental credit in rural areas.
• The initial corpus of NABARD was Rs.100 crores. RBI sold its stake in NABARD to the Government of India, which now holds 99% stake and remaining 1% left with RBI.
• Chairman -Dr. Harsha Kumar Bhanwala
• 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.
• NABARD also acts as regulator of co-operative banks and RRBs, as refinance institution and co-ordinates between Government of India, RBI and other organisation in matter relating to rural development.

MICRO UNITS DEVELOPMENT AND REFINANCE AGENCY LTD (MUDRA) BANK