NABARD Celebrates 44 Years: Expanding Financial Inclusion

The National Bank for Agriculture and Rural Development (NABARD) recently celebrated its 44th Foundation Day, reaffirming its commitment to rural development, financial inclusion, and institutional strengthening. Established in 1982, NABARD plays a pivotal role in enabling sustainable and inclusive growth in India’s rural landscape. The celebration was marked by events, documentaries, and publications that showcased the bank’s achievements and future priorities, especially in the state of Andhra Pradesh and Arunachal Pradesh, where it has undertaken significant infrastructure and credit initiatives.

Background

NABARD was established on 12 July 1982, following the recommendations of the B.Sivaraman Committee, as an apex development financial institution. It was created through an Act of Parliament to promote sustainable and equitable agriculture and rural development through financial and non-financial interventions. Since then, NABARD has emerged as a key agency for implementing government schemes, refinancing rural credit institutions, and supporting rural infrastructure through its various funds like RIDF.

Significance of the 44th Foundation Day

The 44th Foundation Day served as a platform to highlight NABARD’s contribution over the decades and its renewed commitment towards transforming rural India. The event featured the release of a short documentary titled “Roots of Change” and publications such as “NIDHI”, exhibitions by FPOs and artisans, and the recognition of exemplary PACS and DCCBs. The day emphasized NABARD’s dedication to cooperative credit reform, digital empowerment, and grassroots financial outreach.

Key Achievements Highlighted

During the celebrations, NABARD’s Andhra Pradesh regional office announced the disbursement of ₹42,842 crore in loans and ₹31.83 crore in grants for the year 2024–25. These funds supported infrastructure development and institutional capacity-building. The inauguration of new District Development Manager (DDM) offices in East Godavari, West Godavari, and Nandyal districts reflected the bank’s aim to enhance its local presence.

In Arunachal Pradesh, NABARD sanctioned ₹4,613 crore for 485 infrastructure projects under RIDF, improving rural connectivity, irrigation, and livelihood generation. A sensitization program was also held under the theme “Cooperatives Build a Better World”, attended by various stakeholders including the RBI, SIDBI, NCDC, and local cooperative unions.

Objectives and Vision

NABARD aims to empower rural economies by facilitating credit access, building climate-resilient agriculture, and strengthening cooperative institutions. It promotes digital transformation in rural credit systems, capacity building of stakeholders, and convergence with other government initiatives. Its vision includes fostering self-reliant rural communities, with a special focus on Eastern and North-Eastern states.