What is the full form of NABARD

NABARD: National Bank for Agriculture and Rural Development

NABARD stands for National Bank for Agriculture and Rural Development. It is an apex development bank or financial institution in India, that provides a facility to credit flow for development of agriculture, small industries, cottage industries and other small businesses in rural areas. It is owned by Government of India.

NABARD was established on 12 July 1982 by an act of parliament to implement the National Bank for Agriculture and Rural Development Act 1981.

The bank is headquartered in Mumbai, Maharashtra, India.

Mission

Promote sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology and institutional development for securing prosperity.

Function of NABARD

It serves as an apex financing agency for the various development programs in rural areas,
It refines and regulates the financial institutions which finance the rural sector
It regulates the cooperative banks and RRB’s and manages talent through IBPS CWE (Institute of Banking Personnel Selection, Common Written exams)
It provides training facility to the institutions which work for rural development
NABARD also supervises State Cooperative Banks (StCBs), District Cooperative Central Banks (DCCBs), and Regional Rural Banks (RRBs) and conducts statutory inspections of these banks.