NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT
NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT The Reserve Bank of India (RBI) at the instance of the Government of India, constituted a Committee to Review the Arrangements for Institutional Credit for Agriculture and Rural Development (CRAFICARD) to look into these very critical aspects in 1979. Its recommendation was formation of a unique development financial institution. The creation National Bank for Agriculture and Rural Development (NABARD) was approved by the Parliament through Act 61 of 1981. NABARD came into existence on July 12, 1982. Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by the Government of India. Its emblem in green colour has a plant with a cereal protected by a multi layered eccentric circles, meaning layered growth and protection, supported gently by cusping hands. The Devanagari acronym is placed at its bottom.