Explanation : Its functions are: to coordinate the rural financing activities of all institutions engaged in developmental work at the field level and maintain liaison with Government of India, State Governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation; to re-finance the financial institutions which finances the rural sector; to regulate the cooperative banks and the RRB's, etc. NABARD's refinance is available to State Co-operative Agriculture and Rural Development Banks (SCARDBs), State Co-operative Banks (SCBs), Regional Rural Banks (RRBs). Commercial Banks (CBs) and other financial institutions approved by RBI.
NABARD stands for National Bank for agriculture & rural development is set up as an apex development bank by the government of India with a mandate for facilitating credit flow for promotion and development of agriculture and village industries. ....Read more