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National
Bank for Agriculture and Rural Development
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Headquarters
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Mumbai,
Maharashtra, India
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Established
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12
July 1982
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Chairman
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Dr.
Prakash Bakshi
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Currency
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 (Rupees) |
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Website
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NABARD is the apex development bank in India
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National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having headquarters
based in Mumbai (Maharashtra) and other branches are all over the
country. It was established on 12 July 1982 by a special act by the parliament
and its main focus was to uplift rural India by increasing the credit flow for
elevation of agriculture & rural non farm sector and completed its 25 years
on 12 July 2007. It has been accredited with "matters concerning policy,
planning and operations in the field of credit for agriculture and other
economic activities in rural areas in India". RBI sold its stake in NABARD
to the Government of India, which now holds 99% stake.
NABARD was established on the recommendations of
Shivaraman Committee, by an act of Parliament on 12 July 1982 to implement the National
Bank for Agriculture and Rural Development Act 1981. 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 premiere agencies to provide credit in
rural areas.
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