National Bank for Agriculture and Rural Development (Nabard) celebrated its 41st foundation day in Bengaluru.
Entering the fifth decade, Nabard would focus on the preservation and conservation of water, promotion of integrated farming, improving the adaptation of technology in farming, and computerisation of primary agriculture cooperative credit societies (PACS) across the country.
“Nabard’s growth in the last decade has been remarkable, and Karnataka has been a frontrunner in the implementation of various projects and schemes throughout the decades. In fact, Karnataka runs India’s largest watershed project among other successfully run schemes,” said T Ramesh, Chief General Manager and State head, Nabard.
To bring transparency and efficiency to operations of PACS, the Centre launched the “Project for Computerization of PACS by Nabard” at an estimated cost of ₹2516 crore. PACS plays an important role in purveying crop loans and provides both credit and non-credit facilities.
“FPOs have emerged as a channel vehicle in the transformation of farmers into potential entrepreneurs. Reserve Bank of India and Nabard share a common goal of furthering inclusive growth and ensuring timely credit flow to agriculture,” said R Gurumurthy, Regional Director, RBI.
S Rajendra Prasad, Vice-Chancellor, University of Agriculture Science, Bangalore, said that technological interventions in agriculture are important.
Technologies including micro-irrigation, biotechnology, soil health cards, mobile money, and usage of mobile phones in various agricultural practices are essential for today’s agricultural sector.
The programme kicked off with the flagging of the logistics van of Medhini, a farmer producers organization (FPO) from the Haveri District financed by Nabkisan, a subsidiary of Nabard that finances FPOs. It was followed by an exhibition by Nabard-supported artisans, FPO, and other members, showcasing their products.
Established in 1982, Nabard aims to improve the lives of people in rural India through a variety of interventions, including the development of self help groups, joint liability groups, watershed development, tribal development and nurturing of FPOs.