Apex Banking Institution For Rural Development In India
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 5
Abstract
“Food doesn’t grow in a supermarket, Thank a farmer. The discovery of agriculture was the first big step towards a civilized life. Money is not meant to make money. Money is meant to make the earth ready for the new creation.” Every single thought is like a seed, it needs to be sprouted with actions. A Dormant seed would never become a giant tree. Agriculture is the most healthful, useful and noblest employment of humankind. The ultimate aim of farming is not the growing of crops, but the cultivation and perfection of human beings. Cultivators are the most valuable citizens. Such valuable person to be well versed in their life time should be indulged in saving and be a brave investor for sustainable growth and development. Finance is the lubricant, which oils the wheels of development. All economies rely upon the intermediary function of finance to transfer resources from savers to investors. In market economies, this function is performed by commercial banks, financial institutions and capital markets. Farmer mostly reside in the rural areas where in they are not much aware of the banking and other financial services. To make them aware of development of financial needs, development of agriculture and rural areas institutions are set up known as RRBs. They provide finance to the marginal farmers and take help of Non-Government Organizations for the upliftment of poor and weaker section of the society by providing them easy credits. NABARD is an apex institution of RRBs and a Development Bank with a mandate for providing and regulating credit and other facilities for the promotion and development of agriculture, smallscale 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. This paper portrays the ideas of NABARD, its structure, functions and schemes. It also showcases the performance of NABARD at a glance.
Authors and Affiliations
Ms Ponmani . U, Ms Margeret Blessy . D
Keywords
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- EP ID EP414948
- DOI 10.9790/5933-0905033438.
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