Definition of NABARD

National Bank for Agriculture and Rural Development (NABARD) in India is a financial institution which deals with matters pertaining to policy, planning and operations in the fields of agriculture and economic development in rural areas. It is involved in many developmental activities such as working on the betterment of tribal communities’ livelihood, promotion of cotton industries and working on increasing crop productivity.

Points to remember

• NABARD looks after the development of various rural industries such as the cottage industry.
• It is responsible for conducting activities for agricultural research and rural development.
• NABARD also takes care of rural finance in collaboration with the Government of India, Reserve Bank of India, and other national policy-making bodies.