Jammu, July 12 : The National Bank for Agriculture and Rural Development (NABARD) celebrated its 32nd foundation day on Friday at its regional office in Jammu.
BG Mukhopadhyay, CGM Nabard, J and K Regional office, informed that the NABARD was set up as an apex development financial institution with a mandate for agriculture and rural development in the country on July 12, 1982. Over the years, NABARD has added numerous other functions viz, credit planning, financing and monitoring of rural infrastructure, refinance to banks, institution building, supervision, watershed and tribal development, consultancy and micro-finance (through its subsidiaries). NABARD is also playing an important role in the ‘Financial Inclusion’ agenda of the government, which is considered necessary to pave way for the electronic benefit transfer of subsidies and other incentives to vast majority of population in the country.
T Haq Director, council for social development, said the state was lagging behind in many important socio-economic parameters such as the NSDP per capita, employment rate, agriculture productivity, irrigation and roads. He established the need for inclusive growth under State’s GSDP was 21 per cent as against the all-India average of 14 per cent, thereby indicating the importance of the sectors to economy of the state. Asgar Hussain Samoon, Secretary and Commissioner, Agriculture Production Department, was the guest of honour on the occasion. He appreciated NABARD’s concern for promoting agriculture and allied sectors in the state and profusely thanked the chief guest for his valuable inputs, which would be to facilitate development of future strategies and actionable points for all stake holders. Other invitees included representatives from RBI, SBI, PNB, EDB, JKGB, Cooperative Bank and NGOs.
The Tribune, Chandigarh
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