NABARD Foundation Day Observed To Commemorate Its Establishment, Contribution In Rural Development

National Bank for Agriculture and Rural Development (NABARD) Foundation Day is celebrated on July 12 every year. NABARD is India’s apex development bank which was established in 1982 under an Act of Parliament to promote sustainable and equitable agriculture and rural development.

New Delhi: National Bank for Agriculture and Rural Development (NABARD) Foundation Day is celebrated on July 12 every year to commemorate its establishment and its contribution to rural development.

"We are empowering rural India by making it financially inclusive with specially designed initiatives executed under our Financial, Developmental and Supervision departments. Our all-encompassing initiatives cover every crucial aspect of the rural economy. Be it refinance support, district-level credit plans, new development schemes, implementation of Centre's development schemes, marketing platform, skill development training, supervising Cooperative Banks and Regional Rural Banks (RRBs), we have it all under our radar," NABARD stated in its website.

According to the NABARD website, as it progresses on the path of nation-building, some of the notable key milestones include the SHG Bank Linkage Project launched in 1992 which has grown into the world’s largest microfinance project.

The Kisan Credit Card is recognised to be a source of comfort for crores of farmers."We are pioneers in the field of watershed development as a tool for sustainable climate proofing and have successfully financed one-fifth of India's total rural infrastructure," it stated.

The Ministry of Finance, earlier this year, said NABARD is India’s apex development bank which was established in 1982 under an Act of Parliament to promote sustainable and equitable agriculture and rural development.

"In its journey of more than four decades, the premier development financial institution has transformed lives in Indian villages through agri-finance, infrastructure development, banking technology, promotion of microfinance and rural entrepreneurship through SHGs & JLGs and more. It continues to aid in nation-building through participative financial and non-financial interventions, innovations, technology and institutional development in rural areas,” the Ministry said.