Saturday, 19 December 2015

Banking Awareness : IBPS Questions related to NABARD Overview

Banking Awareness : IBPS Questions related to

NABARD Overview

In continuation of our series of articles on Banking Awareness, we present to you today a brief about NABARD. In the past one year we have seen 1-2 questions on NABARD.

NABARD - National Bank for Agriculture and Rural Development
Established on 12th July 1982, on  the recommendation of CRAFICARD (also known as Sivaraman Committee), under the chairmanship of Shri B. Sivaraman, by the Reserve Bank of India (RBI).

CRACICARD – Committee for Review of Arrangements for Institutional Credits for Agriculture and Rural Development
For agricultural finance, NABARD is the apex organization.
Chairman – Harsh Kumar Banwala
Headquarters – Mumbai

Role of NABARD-
1. Assists Cooperative Banks, RRBs, Land Development Banks and Scheduled Commercial Banks
2. Serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas
3. Takes measures towards institution building for improving agriculture sector such as including monitoring, formulation of rehabilitation schemes, restructuring of credit institutions, training of personnel, etc.
4. Co-ordinates the rural financing activities
5. Maintains liaison with Government of India, State Governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation
6. Undertakes monitoring and evaluation of projects refinanced by it
7. The institutions which help the rural economy, NABARD helps develop
8. It regulates the cooperative banks and the RRB’s, and manages talent acquisition through IBPS CWE

Some other facts-
1. The revised rate of interest on refinance for the period of five years for various rural bank will be 9.70%., down from 9.90%. The new rates are effective from January 7, 2014.
3. RBI have approved NABARD Warehouse Financing Scheme
4. The Government of India holds 99% stake and rest 1% is held by Reserve Bank of India
5. In the budget of 2013-2014, Rs.5000 crore is allocated to NABARD
6. NABARD completed 30 years on 12th July, 2012.
7. Government of India is planning to take NABARD for Rs.1900 crore

Some Previous Year Question’s on NABARD-
1. Under which committee NABARD is formed- Sivaraman Committee
2. Chairman of NABARD- Harsh Kumar Banwala
3. Headquarters of NABARD- Mumbai
4. Budget of NABARD in 2013-14- `5000 crore
5. NABARD rate of interest on loans – 9.70%

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