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National Bank for Agriculture and Rural Development (NABARD) came into existence in 1982 and offers short term as well as long term refinancing options as well as direct financing or lending options to eligible borrowers.
The aim of NABARD is to provide assistance to the rural areas of the country in the form of financial, developmental and supervision facilities. It has set up specific departments in this regard that cater to the related specific needs of the rural areas of the country.
The formation of NABARD has been a huge impetus in the rural financing area. The developmental and supervisory aspects of NABARD have also helped in laying down efficient and sound banking as well as business practices among the rural population. Some of the highlights of the role played by NABARD over the years are mentioned below.
Some of the broad functions under its triple role of financing, developing and supervising of the rural sector are discussed below.
The various schemes launched or governed by NABARD under its financing functions as well as the areas of operation under its developmental and supervisory functions are mentioned below.
Direct Financing in the following areas or schemes
NABARD Sponsored Schemes
Off Farm Sector
Research and Development Fund
Micro Finance Sector
There are various other Government Sponsored Schemes as well that come under the purview of NABARD. Some of such schemes in the Farm Sector are,
The current interest rates under the various schemes of NABARD effective from 7th November, 2019 are mentioned below.
Short term Refinance Assistance
State Co-operative Banks for Financing Crop Loans
RRBs for Financing Crop Loans
DCCBs for Financing Crop Loans
Commercial Banks/RRBs in respect of their finance to PACS towards Crop Loans
ST – Additional SAO/ST(Others)/ ST (SAO ) -SCARDBs (Annual Product)
StCBs/RRBs - Conversion of Short Term- crop loans into Medium Term loans (3% less than the interest rate charged by banks to ultimate beneficiaries subject to minimum interest rate at 8.10%)
Long term Refinance Assistance
LT loan to State Govt. for contribution to share capital of the coop. credit institutions
Refinance for 5 years and above
Refinance for 3 years to less than 5 years
Refinance for 18 months to less than 3 years
Warehouse Infrastructure Fund (WIF)
Bank rate – 1.50%
State Government Corporation (with State Govt. Guarantee)
Entities promoted by State / Central Government owned/assisted (without State Govt. Guarantee)
PLR + risk premium
Current Bank Rate – 5.4%
Food Processing Fund (FPF)
Entities promoted by State Governments (with Govt. Guarantee)
Entities promoted by State Governments(without Govt. Guarantee)
The contact information for any queries or any information required regarding the schemes or any details about NABARD are mentioned below.
Telephone number - +91 26539895/ 96/99
Postal address – Plot C-24, G Block,
Bandra Kurla complex,
Mumbai, Maharashtra 400051
1. What is the main area of operation for NABARD?
NABARD operates primarily in rural areas.
2. When was NABARD established?
NABARD was established in 1982.
3. Which institutes come under NABARD?
The following institutes or Banks come under NABARD,
4. Is NABARD a Public Sector Unit?
Central Government has fully owned the entire stake in NABARD after RBI sold its remaining stake as well. Hence, it can be termed as a public sector unit.
5. What are the objectives of NABARD?
Some of the key objectives of NABARD are,
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Atal Innovation Mission
Bank Credit Facilitation Scheme
Coir Udyami Yojana
Khadi And Village Industries Commission
Mahila Samriddhi Yojana
National Skill Development Corporation
National Small Industries Corporation
Pradhan Mantri Kaushal Vikas Yojana
Pradhan Mantri Mudra Yojana
Pradhan Mantri Rojgar Yojana
Prime Minister Employment Generation Programme
Small Industries Development Bank Of India
Stand Up India Scheme
Unemployed Youth Employment Generation Programme
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