Is NABARD Ready to Spearhead India's Inclusive Growth?
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Synopsis
On its 44th Foundation Day, NABARD is positioned to spearhead India's inclusive growth by embracing digital innovation and supporting rural enterprises. Chairman Shaji KV emphasizes the importance of sustainable development, while leaders reflect on NABARD's enduring commitment to enhancing rural livelihoods.
Key Takeaways
- NABARD is at the forefront of India's inclusive growth.
- Focus on digital transformation is key.
- Support for rural enterprises is essential for grassroots development.
- Commitment to sustainability remains a priority.
- Strategic initiatives launched to enhance outreach.
Mumbai, July 12 (NationPress) As India propels itself toward inclusive growth, NABARD is ready to take the lead through digital transformation, backing rural enterprises, and mission-driven programs that unleash grassroots potential, stated Shaji KV, Chairman of NABARD, on Saturday.
The National Bank for Agriculture and Rural Development (NABARD) celebrated its 44th Foundation Day with a special event in Chennai, reflecting on its vital role in India's rural development journey.
“NABARD’s 44-year legacy exemplifies our steadfast dedication to rural transformation. From facilitating access to finance and infrastructure to promoting innovation and resilience, our endeavors have impacted countless lives,” remarked Shaji.
“Our current priority is to amplify high-impact solutions, cultivate entrepreneurial ecosystems, and ensure that sustainability is central to development,” he continued.
M Nagaraju, Secretary of the Department of Financial Services (DFS), noted that for over four decades, NABARD has been a cornerstone of India's rural development framework.
“Its initiatives mirror the government’s vision for a comprehensive and future-ready rural economy. As we enter a phase characterized by climate challenges and digital prospects, NABARD’s role in fortifying rural livelihoods and institutions will be increasingly crucial,” he expressed to the audience.
The event gathered key policymakers, state officials, banking leaders, and grassroots innovators to contemplate NABARD’s lasting mission and introduce a new series of forward-thinking initiatives.
N. Muruganandam, Chief Secretary of Tamil Nadu, acknowledged NABARD’s contributions in the state, stating, “NABARD’s support has been pivotal in enhancing rural livelihoods and fostering self-sufficient communities across Tamil Nadu. Its initiatives in empowering SHGs, bolstering infrastructure, and advancing inclusive finance are held in high regard.”
The event also witnessed the launch of multiple strategic initiatives designed to broaden NABARD’s outreach and amplify its developmental impact, including the inauguration of NABARD’s Sub-office in Leh, Ladakh.
Founded on July 12, 1982, with its headquarters in Mumbai, NABARD functions with a mission to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institutional development, and innovative initiatives.
Point of View
It's evident that NABARD's strategic initiatives are crucial for the advancement of India's rural landscape. Their commitment to fostering inclusive growth through innovation and support for rural communities aligns with the nation's vision for a sustainable and equitable future.
NationPress
21/07/2025
Frequently Asked Questions
What is NABARD's primary mission?
NABARD's main mission is to promote sustainable and equitable agriculture and rural prosperity through effective credit support and innovative initiatives.
How long has NABARD been operational?
NABARD has been operational since July 12, 1982, marking over 40 years of dedicated service to rural development.
What initiatives does NABARD support?
NABARD supports various initiatives including digital transformation, rural enterprise development, and sustainable agriculture practices.
Where is NABARD's headquarters located?
NABARD's headquarters is situated in Mumbai, India.
Why is NABARD's role important in today's economy?
NABARD's role is crucial as it addresses the challenges of climate change and promotes inclusive economic growth in rural areas.
