National Bank for Agriculture and Rural Development (NABARD) has set a target of providing Rs 30,000 crore as credit to farmers for irrigation over the next three years. The Bank has already sanctioned Rs 1,000 crore so far in 2015. This funding will be in addition to the government’s recent announcement of providing Rs 50,000 crore of loans to farmers over the next five years under the Pradhan Mantri Krishi Sinchai Yojana (PMKSY).
National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having headquarters based in Mumbai (Maharashtra)
NABARD was established on 12 July 1982 by a special act by the parliament.
NABARD is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion.
NABARD is India’s specialised bank for Agriculture and Rural Development in India.
Test Your Knowledge
- Who is the current Chairman of NABARD? Dr Harsh Kumar Bhanwala
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