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Headquarters Mumbai, Maharashtra, India
Established 12 July 1982
Chairman Dr. Harsh Kumar Bhanwala
The Committee to Review the Arrangements for Institutional Credit for Agriculture and Rural
Development (CRAFICARD) set up by Reserve Bank of India in 1979 recommended formation of
“NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT (NABARD)” as a
“new organisational device for providing undivided attention, forceful direction and pointed focus
to the credit problems arising out of integrated rural development”.
National Bank for Agriculture and Rural Development (NABARD) was established on 12 July
1982 by an Act of the Parliament
NABARD was set up as a Development Bank with a mandate for providing and regulating credit
and other facilities for the promotion and development of agriculture, small scale industries,
cottage and village industries, handicrafts and other rural crafts and other allied economic activities
in rural areas with a view to promoting integrated rural development and securing prosperity of
rural areas, and for matters connected therewith or incidental thereto.
Promote sustainable and equitable agriculture and rural prosperity through effective credit support,
related services, institution development and other innovative initiatives.
The paid up capital of NABARD is Rs.2,000 crore with Government of India (GoI) holding
Rs.1,980 crore and the remaining by Reserve Bank of India (RBI).
NABARD, with its Head Office at Mumbai, has 30 Regional Offices located in States and a Union