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Rural development National Bank for Agriculture and Rural Development

National Bank for Agriculture and Rural Development (NABARD) was established as the premiere development bank. The main purpose of the National Bank for Agriculture and Rural Development is to provide credit for the development and publicity of small-scale industries, handicrafts, rural crafts, village industries, cottage industries, agriculture, etc. The NABARD also supports all other related economic operations in the rural sector and looks after the promotion of sustainable growth in the rural sector.

The NABARD also plays the role of a contributor to the rural development by the means of promoting institutional development, facilitating refinancing the loan providers in the rural sector, inspection, monitoring, and evaluation of client financial corporations.

The NABARD also provides assistance to the Reserve Bank of India, other organizations related with the development of the rural sector, and the Government of India, coordinates the functions of the rural loan providers, aids the state governments in assisting the rural developmental institutions, provides training facilities for the cooperatives, banks, and other organizations.

Objectives of National Bank for Agriculture and Rural Development are -

* The National Bank for Agriculture and Rural Development would be the apex body pertaining to the planning of the financial and functional aspects of promotion for small-scale industries, agriculture, handicrafts, rural crafts, village industries, cottage industries, and any kind of commercial operations in the rural sector. * The National Bank for Agriculture and Rural Development would function as a refinancing organization for the credit given by   * financial agencies both long term loans and short term loans for promoting various kinds of activities in the rural sector. * The National Bank for Agriculture and Rural Development would facilitate the provision of direct loan to different institutions on the approval of the Central Government of India. * The National Bank for Agriculture and Rural Development would have constitutional connections with the apex bank, the Reserve Bank of India.