NABARD H ere are some useful details about National Bank for Agriculture and Rural Development (NABARD)

: *. Established on 12th July 1982 on the recommendation of CRAFICARD committee (alsocalled as Sivaraman Comittee) *. CRAFICARD - Committee for review of arrangements for institutional credit for agriculture and rural development. *. For Agricultural finance, NABARD is the apex organization *. Chairman : Prakash Bhakshi *. Head Quarters : Mumbai *. It assists Cooperative Banks,RRBs, Land Development Banks & Scheduled Commercial banks in lendingto farmers, ruralartisans andother non-farmers inrural areas and to the State Governments for minor irrigation. *. Land Development Banks are now called State Co-op. Agricultureal and Rural Development Banks . *. NABARD grants short-term loans for 18 months for seasonal agricultural operations. It only refinances. *. It meets the credit needs of farmers, rural artisans through the above organizations for financing minor irrigation, SHGs,SGSRY, Wasterland Development,Horticulture, Land Development, Farm Mechanization, Animal Husbandry, Fisheries etc. at 6.75% Interest. *. NABARD manages Financial Inclusion Fund . *. Rural Infrastructure Development Fund (RIDF) is operated by NABARD, instead inApril 1995. *. NABARD is the " Micro-Finance Regulatory Authority " *. Water Shed Development Fund was instituted with NABARD. *. The Government of India holds99% stake. in NABARD and currently 1% is held by the Reserve Bank of India. Initially, the RBI used to held72.5 per cent of equity in NABARD but from October, 2012 the Reserve Bank of India (RBI) has divested71.5per cent stake amounting to Rs 1,430 crore in National Bank for Agriculture and Rural Development (NABARD) in favour of the government. *. 2009-10 budget allotted Rs. 14,00 Cr. under RIDF XV tranch+ Rs. 4000 Cr. to Rural roads.