NABARD celebrated 36th foundation day with the SHGs and awarded some of the winning performer with the mementos and certificate.
Chief Guest of Honor Shri Purnendu Basu MIC Agriculture along with CGM NABARD A.K.Raybarman,CGM SBI Shri Partha Pratim Sengupta,Ms. Rekha G. Warriar Regional Director RBI was there along with other honored guest.
Mr. Purnendu Basu explained why organization like NABARD is paramount in developing Agri Business. Organic Farming and other sectors are developing in India and specially in Bengal under Mamata Banerjee’s leadership.
About NABARD: National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India, headquartered at Mumbai with branches all over India.The Bank has been entrusted with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”. NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.
NABARD was established on the recommendations of B.Sivaraman Committee, (by Act 61, 1981 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 premier agencies providing developmental credit in rural areas. NABARD is India’s specialised bank for Agriculture and Rural Development in India.
The initial corpus of NABARD was Rs.100 crores. Consequent to the revision in the composition of share capital between Government of India and RBI, the paid up capital as on 31 May 2017, stood at Rs.30,000 crore with Government of India holding Rs.30,000 crore (100% share).
International associates of NABARD include World Bank-affiliated organizations and global developmental agencies working in the field of agriculture and rural development. These organizations help NABARD by advising and giving monetary aid for the upliftment of the people in the rural areas and optimizing the agricultural process.
***with inputs from Wikipedia & public domains.
