Paragraph, Essay and Speech on “Functions of NABARD” Paragraph for Class 9, Class 10, Class 12 Class and Graduate Exams.

Functions of NABARD

The full form of NABARD is National Bank for Agriculture and Rural Development. The major functions of NABARD are as follows:

It acts as an apex body for meeting the credit needs of all types of agricultural and rural development.

It provides refinancing facilities to State Co-operative Banks (SCBs), Land Development Bank (LDBs), Regional Rural Banks (RRBs) and other approved financial institutions for financing rural economic activities.

It co-ordinates all agricultural and rural development activities with the objective of tying them up with planned development activities in the rural sector.

It provides short-term, medium-term and long-term credit to SCBs, LDBs, RRBs and approved financial institutions.

It provides long-term assistance (not exceeding 20 years) to State Governments.

It has the responsibility of inspecting co-operative banks and RRBs.

It maintains a research and development fund to promote research in agriculture and rural development.

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