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Board and Management The Committee to Review Arrangements for Institutional Credit for Agriculture and
Rural Development (CRAFICARD) set up by the RBI under the ChairmanshipBottom of Form
of
Overview Shri B Sivaraman in its report submitted to Governor, Reserve Bank of India on
November 28, 1979 recommended the establishment of NABARD. The Parliament Reserve Bank of
Overview through the Act 61 of 81, approved its setting up. India
The Reserve
Credit Functions The Committee after reviewing the arrangements came to the conclusion that a new Bank of India
arrangement would be necessary at the national level for achieving the desired
Credit Functions
was
focus and thrust towards integration of credit activities in the context of the strategy
for Integrated Rural Development. Against the backdrop of the massive credit needs established
Developmental and Promotional Func of rural development and the need to uplift the weaker sections in the rural areas on April 1,
tions within a given time horizon the arrangement called for a separate institutional set-
up. Similarly. The Reserve Bank had onerous responsibilities to discharge in respect 1935 in
Developmental and Promotional Func of its many basic functions of central banking in monetary and credit regulations and accordance
tions was not therefore in a position to devote undivided attention to the operational with the
details of the emerging complex credit problems. This paved the way for the
establishment of NABARD. provisions of
Supervisory and Regulatory Functions
the Reserve
CRAFICARD also found it prudent to integrate short term, medium term and long-Bank of India
Supervisory and Regulatory Functions
term credit structure for the agriculture sector by establishing a new bank. NABARD
is the result of this recommendation. It was set up with an initial capital of Rs 100 Act, 1934
crore, which was enhanced to Rs 2,000 crore, fully subscribed by the Government
Overview
of India and the RBI. Departments of
Overview NABARD
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Highlights a list of
Highlights departments
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