NABARD Full Form – What does NABARD Stand for, Functions, History, Chairman

The article deals with NABARD, its full form with all Detail Pointers about the apex bank of India in the field of Agriculture and Rural Finance. Do you know what is NABARD? What does NABARD stand for? When was the NABARD formed? Who is the Chairman, and where is its HQ? If you want to answer these questions, go through the article.

NABARD Full Form

The full form of NABARD is National Bank for Agriculture and Rural Development.

History of NABARD

• Reserve Bank of India (RBI) formed a committee on 30 March 1979 under the chairmanship B. Sivaraman, a former member of Planning Commission to review the arrangement for Institutional Credit for Agriculture and Rural Development in the country.
• On the recommendation of Sivaraman Committee, Government of India passed the National Bank for Agriculture and Rural Development Act in parliament in 1981 and NABARD came into existence on 12 July 1982.
• It was set up with an initial capital of Rs.100 crore and its paid-up capital stood at Rs.14,080 crore as on 31 March 2020.

Chairman & Headquarters

• First Chairman of NABARD: M RAM Krishannaya
• Present Chairman of NABARD: G R Chintala
• Headquarters of NABARD: Mumbai

Functions of NABARD

• NABARD provides credit facilities, direct finance, and short & long term refinance for various projects under Agriculture and Rural Development. NABARD also manages Funds such as Rural Infrastructure Development Fund and Micro Irrigation Fund. 
• NABARD’s international associates include World Bank-affiliated organisations and global developmental agencies working in the field of agriculture and rural development.

Click here to read the functions of NABARD in detail

Vacancies in NABARD

Each year the National Bank for Agriculture and Rural Development recruitment for its Grade A and B Officer’s post. 

Brief account about the number of vacancies in NABARD:

Post	Total Vacancies
NABARD – Grade A 2021	161
NABARD – Grade A -2020	150
NABARD – Grade A – 2019 (RSBD)	79

Latest Vacancies in NABARD Grade A 2021

Post	Vacancies
Assistant Manager in Grade A (Rural Development Banking Service)	155
Assistant Manager in Grade A (Rajbhasha Service)	06
Total	161

Get to know the full details on NABARD Grade-A Exam 2021 by clicking the link.

Salary of NABARD Officers

Grade A Officer 

• The basic pay Officers in Grade ‘A’ of Rs.28150/- p.m. in the scale of Rs.28150-1550(4)-34350-1750(7)–46600–EB-1750(4)-53600- 2000(1)-55600.
• They are also eligible for Dearness Allowance, Local Compensatory Allowance, House Rent Allowance, and Grade Allowance as per rules.
• Their present initial monthly gross salary sums up approximately Rs. 62,600/-p.m.

Grade B Officer

• Recruited officers draw a starting basic pay of Rs. 35150/- p.m. in the scale of Rs.35150 – 1750 (9) – 50900 – EB – 1750(2) – 54400 – 2000 (4) – 62400 (16 years).
• Along with the basic pay, they are also eligible for Dearness Allowance, Local Compensatory Allowance, House Rent Allowance, and Grade Allowance as per rules.
• Their monthly total emoluments are approximately Rs. 73600/-p.m

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