is a specific bank like NABARD enough to cater the needs of the people?critically point out to light the values and issues involved (6 marks)

 NABARD (National Bank For Agriculture & Rural Development) was established on 12 July 1982 by RBI to serve the rural sector by increasing the credit flow for elevation of agriculture & rural non-farm sectors. It looks after the development of different industries such as cottage industries (which produces consumer goods), small industries & village industries. It is an apex financial institute catering to the credit requirements in rural India.‚Äč

i. NABARD serves as the apex agency for financial institutions that advance credit for various rural developmental activities.

ii. It takes appropriate steps or measures to improve the credit delivery system. These measures include monitoring, formulation, restructuring of institutions and training of manpower.

iii. It coordinates the rural financing activities of all credit institutions engaged in developmental work at the grass-roots level.

iv. It refinances institutions that are involved in financing the rural sector. In addition, it also monitors and evaluates the projects that it refinances.

The credit flow of agricultural activities sanctioned by NABARD reached Rs.1, 57,480 crore in 2005-2006. Thus, we can say that NABARD plays a very important role to fulfil the credit needs of people in rural India, however, a lot more is still to be achieved.

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