NABARD is set up as an apex Development Bank with a mandate for facilitating creditflow for promotion and development of agriculture, small-scale industries, cottage andvillage industries, handicrafts and other rural crafts. It also has the mandate to support allother allied economic activities in rural areas, promote integrated and sustainable ruraldevelopment and secure prosperity of rural areas. In discharging its role as a facilitator for rural prosperity NABARD is entrusted with 1.Providing refinance to lending institutions in rural areas 2.Bringing about or promoting institutional development and 3.Evaluating, monitoring and inspecting the client banks Besides this pivotal role, NABARD also: •Acts as a coordinator in the operations of rural credit institutions •Extends assistance to the government, the
and other organizations inmatters relating to rural development •Offers training and research facilities for banks, cooperatives and organizationsworking in the field of rural development •Helps the state governments in reaching their targets of providing assistance toeligible institutions in agriculture and rural development Acts as regulator for cooperative banks and RRBs
Some of the milestones in NABARD's activities are:
•Refinance disbursement under ST-Agri & Others and MT-Conversion/ Liquiditysupport aggregated Rs.16952.83 crore during 2007-08. •Refinance disbursement under Investment Credit to commercial banks, statecooperative banks, state cooperative agriculture and rural development banks, RRBsand other eligible financial institutions during 2007-08 aggregated Rs.9046.27 crore. •
Through the Rural Infrastructure Development Fund (RIDF) Rs.8034.93 crores were disbursed during2007-08. With this, a cumulative amount of Rs.74073.41 crore has been sanctioned for 280227 projectsas on 31 March 2008 covering irrigation, rural roads and bridges, health and education, soilconservation, drinking water schemes, flood protection, forest management etc.
•Under Watershed Development Fund with a corpus of Rs.613.71 crore as on 31March 2008, 416 projects in 94 districts of 14 states have benefited. •Farmers now enjoy hassle free access to credit and security through 714.68 lakh