Earlier Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) had the responsibility of looking into the matters of the rural sector. The NABARD has replaced them and is now responsible for ensuring rural sector growth in the economy. It is one of the premier institutions that facilitate credit support for the development of the rural sector. The NABARD plays various roles to ensure a proper rise in the rural sector.
- It provides training to various institutions and banks and makes them aware on how to tackle problems of various rural areas
- Assistance and aid are provided to all such institutions who are involved in the development of the rural sector
- It coordinates and facilitates all the operations pertaining to growth of small scale industries
- It provides assistance in terms of investment schemes and rehabilitation schemes are also implemented
- The client institutions which are working for the development of these sectors are regularly monitored
The NABARD provides the required services and technology to the rural workers and spreads awareness on these areas so as to bring development in this sector. India is a developing country and almost the entire population is dependent on the agricultural sector for their livelihood so it the responsibility of NABARD to promote the rural sector and take it to greater heights. Innovative ideas must be adopted and implemented successfully so as to make these backward sectors as the evolving ones.
If NABARD works successfully throughout then the rural sectors of India will also be holding a very important position in our economy. The small scale industries will be developed enough to compete with the other industries in the urban sector. Cottage industries and handicraft sectors must be stressed on to get an equitable development in this area. Loans must be provided to the farmers so that they do not face any crisis both in terms of credit and technology.
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