Have you ever wondered how rural development and agricultural growth are promoted in India? Well, one of the key players behind these initiatives is NABARD.
NABARD has been instrumental in driving economic transformation in rural areas and ensuring the well-being of farmers across the country. It plays a crucial role in providing financial support, implementing innovative schemes, and fostering sustainable development practices.
In this article, we will delve into the functions and objectives of NABARD, explore who benefits from its schemes, and discover the career opportunities it offers. Additionally, we will discuss education options and upskilling programmes that can help you unlock your potential in this field.
What is NABARD Full Form?
NABARD, which stands for National Bank for Agriculture and Rural Development, plays a crucial role in promoting rural development and agriculture growth in India.
Established in 1982, NABARD aims to provide sustainable and equitable agriculture and rural prosperity. It acts as a refinancing agency for institutions involved in agricultural and rural development activities, provides credit facilities to farmers, supports infrastructure development in rural areas, and offers capacity-building programmes for stakeholders.
With its focus on fostering inclusive growth and empowering rural communities, NABARD has become an essential institution, driving the country's agricultural sector forward.
Functions of NABARD
NABARD performs various functions to fulfil its mandate of promoting agricultural and rural development. Some of its key functions include:
- Refinancing: NABARD provides loans and refinance facilities to cooperative banks, regional rural banks, and other financial institutions involved in agricultural lending.
- Rural Infrastructure Development: NABARD finances projects related to irrigation systems, roads, bridges, warehouses, cold storage facilities, agro-processing units, and other infrastructure required for agriculture and rural development.
- Credit Support: It provides short-term credit to farmers through cooperative banks for crop production and marketing activities.
- Capacity Building: NABARD conducts training programmes for farmers, self-help groups (SHGs), and other stakeholders to enhance their knowledge and skills in modern farming techniques.
- Policy Research: It conducts research studies on various aspects of agriculture and rural development to recommend policy measures for sustainable growth.
Objectives of NABARD
The main objectives of NABARD are:
- Promoting Financial Inclusion: NABARD aims to provide access to formal financial services to all sections of society by promoting the establishment of self-help groups, microfinance institutions, and cooperative banks.
- Sustainable Agriculture: NABARD focuses on promoting sustainable agricultural practices by supporting organic farming, water conservation measures, and technological advancements in farming techniques.
- Rural Development: NABARD aims to improve the quality of life in rural areas through the development of basic infrastructure, such as roads, electrification, irrigation facilities, and sanitation.
- Women Empowerment: NABARD encourages women's participation in agriculture and rural development activities by providing training and financial support to women farmers and entrepreneurs.
- Poverty Alleviation: NABARD provides credit support to uplift small and marginalised farmers, landless labourers, and economically weaker sections of society to reduce poverty in rural areas.
Who Benefits from NABARD Schemes?
NABARD schemes are designed to benefit various stakeholders involved in agriculture and rural development. The beneficiaries include:
- Farmers: Small farmers can avail themselves of credit facilities for crop production, purchase of farm machinery, establishment of agro-processing units, and marketing their produce.
- Self-Help Groups (SHGs): NABARD provides financial assistance to SHGs for income-generating activities like dairy farming, poultry rearing, organic farming, and handicrafts.
- Rural Entrepreneurs: Individuals interested in starting businesses related to agriculture or rural sectors can access funds through NABARD schemes for setting up agribusiness ventures or cottage industries.
- Cooperatives: Cooperative societies engaged in agricultural marketing, credit operations, or dairy farming can benefit from refinancing facilities provided by NABARD.
To apply for a NABARD scheme, individuals or organisations can visit the official website of NABARD or approach their nearest regional office for detailed information on eligibility criteria and application procedures.
NABARD Career Opportunities
If you aspire to work with NABARD, you must clear the NABARD Grade A and Grade B exams conducted by the organization. These exams are held annually and test your knowledge in subjects like agriculture, finance, economics, rural development, etc.
Eligibility criteria for the NABARD exam include:
- Age limit: 21–30 years
- Educational qualifications: Bachelor's degree with a minimum of 50% marks (45% for reserved categories)
- Specific educational requirements may vary based on the post applied for.
Jobs and Salary Prospects
Clearing these exams opens up a range of career opportunities at NABARD. Some job positions available after clearing the exam include Assistant Manager (Grade A), Manager (Grade B), Development Officer, Risk Manager, etc.
Here are the average salaries of job positions at NABARD:
- Assistant Manager: ₹55,000 per month
- Manager: ₹75,000 per month
- Development Officer: ₹60,000 per month
- Risk Manager: ₹80,000 per month
- Specialist Officers: ₹70,000 per month
A career with NABARD offers a unique opportunity to contribute towards rural development and agricultural growth while enjoying job stability, attractive remuneration, and opportunities for professional growth.
Education and Upskilling Options
To enhance your chances of securing a career with NABARD, you can consider pursuing relevant degree programmes or specialisation courses. Some of the educational options include:
- Bachelor's or Master's degree in Agricultural Sciences
- Postgraduate Diploma in Rural Management
- Certificate courses in Microfinance
Continuous upskilling is essential in the evolving agricultural and rural development sectors. Staying updated with advancements in technology, sustainable practices, financial management, and policy frameworks will help you thrive in your NABARD career.
Unlocking Your Potential with NABARD
With its extensive functions, objectives, and career opportunities, NABARD offers a promising pathway for young professionals in the fields of rural development and agriculture. By pursuing relevant degree programmes and continuously upskilling and reskilling, you can enhance your chances of success in NABARD exams and secure a fulfilling career.
Explore further opportunities with expert guidance from WiZR!
FAQs
1. What is the selection process for NABARD exams?
The selection process for NABARD exams typically involves three stages: the preliminary exam, the main exam, and the interview. Candidates who clear each stage are selected based on their performance and merit.
2. Where can I find study materials or resources to prepare for NABARD exams?
You can find study materials and resources for NABARD exams through various online platforms, such as WiZR, where you can access expert guidance on comprehensive course materials and practice tests.
3. Can I qualify for NABARD through regular banking exams?
No, qualifying for NABARD requires clearing specific exams conducted by the organization. While banking knowledge might be helpful, it is advisable to focus on studying specifically for the NABARD exams to increase your chances of success.
4. Are there any NABARD schemes for agricultural students?
Yes, there are specific schemes under NABARD that cater to the needs of agricultural students, such as scholarships, grants, and loan facilities to pursue higher education or start agri-based enterprises.
5. Who can provide personalised guidance on choosing a suitable career path in this field?
To receive personalised guidance on choosing a suitable career path in the field of rural development and agriculture, you can consult career experts at WiZR who have in-depth knowledge of industry trends and can help you make informed decisions.
