MICROCAPITAL BRIEF: National Bank for Agriculture and Rural Development (NABARD) Plans to Open Rural Credit Bureaus in India

The National Bank for Agriculture and Rural Development (NABARD), a development bank in India that promotes sustainable agriculture and rural development through credit support, institution building and other related services, plans to set up rural credit bureaus in rural districts throughout the country. According to Dr K.G. Karmakar, the managing director of NABARD, “Once implemented, [the credit bureaus] will go a long way in improving the financial position of India’s 480 million marginal farmers.” The proposed bureaus would maintain information on all rural borrowers in order to facilitate credit and information disbursement. Karmakar also announced that NABARD has set a target of INR 3,750 billion (USD 80.3 billion) for credit disbursement in the current fiscal year, up from INR 3,250 billion (USD 69.6 billion) last year.

About National Bank for Agriculture and Rural Development (NABARD):

The National Bank for Agriculture and Rural Development (NABARD) is a development bank in India that formulates the credit and banking policy for the rural sector, supervises and conducts on-site inspections of cooperatives and regional rural banks and promotes the development of microfinance activities in the rural sector. NABARD is charged with the oversight of the Microentreprise Development Programme (MEDI), which focuses exclusively on the development of microenterprises. In 2010, NABARD NABARD set a target of INR 3,750 billion (USD 80.3 billion) for credit disbursement via commercial banks, state cooperative banks, state cooperative agriculture and rural development banks, and other eligible financial institutions,?for the fiscal year, up from INR 3,250 billion (USD 69.6 billion) the previous year.

By Conner Brannen, Research Assistant

Sources and Additional Resources:

istockAnalyst: “Nabard to set up rural credit bureaus,” June 13, 2010: http://www.istockanalyst.com/article/viewiStockNews/articleid/4208089

MicroCapital Universe Profile: National Bank for Agriculture and Rural Development (NABARD): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=National+Bank+of+Agriculature+and+Rural+Development+%28NABARD%29

MICROCAPITAL BRIEF: National Bank of Agriculture and Rural Development (NABARD) of India Invites Comments on Draft Plan for Microfinance Regulation and Development, March 14, 2010: https://www.microcapital.org/microcapital-brief-national-bank-of-agriculture-and-rural-development-nabard-of-india-invites-comments-on-draft-plan-for-microfinance-regulation-and-development/

MICROCAPITAL BRIEF: Indian Government Plans to Reintroduce Microfinance Bill Which Will Designate National Bank of Agriculture and Rural Development (NABARD) as New Regulatory Body, Allow Microfinance Institutions (MFI) to Accept Deposits, February 3, 2010: https://www.microcapital.org/microcapital-brief-indian-government-plans-to-reintroduce-microfinance-bill-which-will-designate-national-bank-of-agriculture-and-rural-development-nabard-as-new-regulatory-body-allow-microfinance/

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