Role of NABARD in Rural Development and Agriculture Financing
NABARD plays a crucial role in rural development and agriculture financing by providing investment and production credit for developmental projects. It coordinates financing activities, monitors projects, and offers training to institutions. Additionally, NABARD refinances financial institutions and supports Natural Resource Management Programmes and Self-Help Groups to boost rural development.
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What is the role of NABARD?
What is the role of NABARD? Being the main regulatory body for agriculture and rural development, the National Bank for agriculture and rural development or NABARD has many important roles to play. These roles are as follows: The National Bank for Agriculture and Rural Development or NABARD provides investment and production credit for various developmental activities and projects taking place in rural areas, which will help enhance rural development and facilitate rural prosperity. As this bank is the center or the main financing agency for all such developmental projects, the responsibility falls on the bank to ensure that the projects receive the proper financing and promotion.
What is the role of NABARD? The responsibility of coordinating all the financing activities in the rural areas with all institutions involved in the developmental projects falls on the NABARD. It has to stay in touch with all major institutions, including the Indian government, Reserve Bank of India or RBI, state governments, or any other major institutions that may be a part of the ongoing agriculture or rural development activities. NABARD takes action towards monitoring, formulating strategies for the rehabilitation schemes, restructuring credit institutions and training personnel, etc., through making an improvement in the credit delivery system s absorptive capacity and building a strong institution with an aim to achieve the same.
What is the role of NABARD? The National Bank refinances all the financial institutions that finance the rural development projects for Agriculture and Rural Development or NABARD as it is the specific bank for looking after all agriculture and rural developments in the country. After the bank has refinanced a developmental project or activity taking place in the rural region, the responsibility of monitoring and evaluating the project or activity also falls on the NABARD. NABARD keeps all the client institutions in check and provides training facilities to all the institutions that are working towards rural upliftment or want to work for rural development in the future.
What is the role of NABARD? Along with all the above roles, the National Bank for Agriculture and Rural Development also keeps the portfolio of the Natural Resource Management Programmes. NABARD also helps Self-Help Groups or SHGs through its SHG bank linkage programme that will boost the activities of SHGs in the rural areas and will be a helpful step in the rural development.
