NABARD Foundation Day 2024, 43rd Foundation Day of NABARD
On July 12th, we celebrate NABARD Foundation Day 2024. Explore the milestones of NABARD Foundation Day 2024 and 43 years of fostering rural and agricultural development.
Deeksha Dixit12 Jul, 2024
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NABARD Foundation Day 2024 marks the 43rd Foundation Day of NABARD, celebrating commitment and excellence in facilitating rural development and agricultural growth in India. This special day is dedicated to recognizing the remarkable contributions of the National Bank For Agriculture And Rural Development (NABARD) in improving the condition of rural communities and enhancing agricultural productivity across the nation.
Overview of NABARD Foundation Day 2024
Before getting over to the significance of the NABARD Foundation Day 2024, first of all, let us understand what NABARD stands for. The full form of NABARD is the National Bank For Agriculture And Rural Development . NABARD was established to promote sustainable agricultural and rural development, NABARD has been at the forefront of implementing policies and programs that benefit the rural populace.| Overview of NABARD Foundation Day 2024 | |
| Event | Details |
| Date | July 12, 2024 |
| Celebrating | 43rd Foundation Day of NABARD |
| Established | July 12, 1982 |
| Full Form | National Bank For Agriculture And Rural Development |
| Headquarters | Mumbai, Maharashtra |
| CEO | Mr. Shaji K. V. |
| Objective | Promoting sustainable and equitable agriculture and rural prosperity |
| Key Functions |
|
| Achievements |
|
| Special Activities | Workshops, seminars, exhibitions showcasing successful projects, awards, and recognitions for outstanding contributions to rural development |
History of NABARD
To navigate the journey of NABARD, it is essential to know about the significant date on which this institution came into existence. NABARD was established on July 12, 1982, following the recommendation of the B. Sivaraman Committee. Since then, it has been playing an important role in transforming the rural economy by giving financial support and innovative solutions to enhance agricultural productivity and rural development.Explore Online Coaching for Bank Exams now and boost your preparation for banking jobs
National Bank For Agriculture And Rural Development
The need for this dedicated institution, ”National Bank for Agriculture and Rural Development ,” to support agricultural and rural development in India was recognized in the early 1970s. The Indian agriculture sector faced many challenges, including collapsed and shattered land holdings, a lack of access to credit, and inadequate infrastructure. To address these issues, the Government of India set up the B. Sivaraman Committee in 1979 to review the arrangements for institutional credit for agriculture and rural development. NABARD Headquarters is situated in Mumbai, Maharashtra. Along with NABARD Headquarters, there are various regional offices to ensure that their initiative reaches every corner of the nation. Key Milestones in NABARD's History:| NABARD Milestones | |
| Year | Milestone |
| 1982 | Establishment of NABARD to oversee and promote rural development and agricultural finance. |
| 1985 | Introduction of the Integrated Rural Development Programme (IRDP) to enhance rural incomes. |
| 1992 | Launch of the Self-Help Group (SHG)-Bank Linkage Programme , promoting microfinance. |
| 1999 | Establishment of the Rural Infrastructure Development Fund (RIDF) . |
| 2000 | Implementation of the Kisan Credit Card (KCC) scheme to provide farmers with timely credit. |
| 2012 | Inauguration of the Financial Inclusion Fund (FIF) and the Financial Inclusion Technology Fund (FITF) . |
| 2020 | Introduction of initiatives focusing on digital banking and e-NAM (National Agriculture Market). |
Significance of NABARD
Over the past 43 years, NABARD in its mission to develop rural areas, has achieved various milestones. Some of its achievements and key functions include:- Credit Provision : NABARD provides credit facilities to farmers for agriculture and rural development activities, ensuring that these poor farmers and rural resource suppliers have access to necessary financial resources.
- Infrastructure Development : NABARD supports the development of rural infrastructure, including irrigation systems, roads, and markets, to facilitate agricultural growth.
- Promotion of Sustainable Practices : NABARD encourages sustainable agricultural practices, promoting organic farming, soil conservation, and efficient water management.
- Financial Inclusion : The bank works towards including the unbanked rural population in the formal financial system, enhancing their access to banking services and credit facilities.
Celebrating the NABARD Foundation Day 2024
The 43rd Foundation Day of NABARD is not just a special day for celebrating its foundation, but it is a moment to reflect and focus on the achievements and contributions of the organization towards rural development. On NABARD Foundation Day 2024, many engaging events and activities will organized to showcase the impact of NABARD’s initiative. These may include:- Workshops and Seminars : Proper one-on-one discussion on the future of agriculture and rural development, and resolution of problems by exploring innovative solutions and strategies.
- Awards and Recognitions : Awarding individuals and organizations that have consistently and significantly contributed to the rural development sector.
- Exhibitions : Showcasing successful projects and initiatives supported by NABARD, demonstrating their positive impact on rural communities.
Future Plans of the National Bank For Agriculture And Rural Development
As we celebrate the 43rd Foundation Day of NABARD, it is important to oversee and recognize the plans and ongoing efforts of this prestigious organization. NABARD is always committed to its mission of advancing and fostering rural development and prosperity through innovative solutions, financial inclusion, and sustainable agricultural practices. The future journey is filled with ample amount of opportunities to further enhance the millions of lives of rural inhabitants and contribute to the overall growth of India's economy. In conclusion, NABARD Foundation Day 2024 is evidence of the free will dedication, and consistent hard work of NABARD in promoting rural development and agricultural excellence. With a vision for a prosperous rural India, NABARD continues to navigate the way for a brighter and more inclusive future. Learn about NABARD for UPSC recruitment exams at the best UPSC online coaching at Physics Wallah. Enroll today for high-quality study material!| UPSC Related Articles | ||
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NABARD Foundation Day 2024 FAQs
Where is the headquarter of NABARD?
The headquarters of the National Bank for Agriculture and Rural Development (NABARD) is located in Mumbai, Maharashtra, India.
What percentage of NABARD is owned by the Government?
The Government of India owns 100% of NABARD.
Does the National Bank For Agriculture And Rural Development come under ministry?
Yes, NABARD functions under the jurisdiction of the Ministry of Finance, Government of India.
What is the NABARD Exhibition 2024?
The NABARD Exhibition 2024 will showcase innovations and achievements in agriculture and rural development.
Who is the CEO of NABARD?
The current CEO of NABARD is Mr Shaji K.V.
When was the NABARD established?
NABARD was established on 12 July 1982. Following the recommendation of the B. Sivaraman Committee.
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