National Bank for Agricultural and Rural Development (NABARD) Act, 1981: A Significant Effort towards Socio-Economic Development in Rural India

Abstract

NABARD has been established as a unique institution in India under the National Bank for Agriculture and Rural Development Act, 1981, which combines the roles of a central bank, a development agency, a financial institution, an infrastructure funding agency, a microfinance institution, a planning board and an apex-level policy maker. NABARD has taken various initiatives toward Sustainable Development Goals (SDGs), poverty alleviation and inclusive growth through increasing agricultural production, rural employment and Self Help Group (SHG)- Bank Linkage Programme. The establishment and participation of NABARD has been serving various fruitful purposes at the grass-root level which includes enhancing the health of the rural credit delivery system and strengthening the same since its inception.