The NABARD was established by an Act of Parliament on 12 July 1982, as a Development Bank with a mandate for providing and regulating credit and other facilities for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development. NABARD has taken various measures relating to promotion of credit in the field of agriculture which includes extending refinance to rural financial institutions, cooperatives and Regional Rural Banks(RRBs) for short term crop loan as well as refinance for investment credit or agricultural term loans. The details of refinance extended by NABARD during the last three years are given below:-

Rs. in crore

 The details of funds allocated, sanctioned and disbursed under Rural Infrastructure Development Fund (RIDF) during the last three years and current year (up to 31 December 2012) are as under:-

This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Lok Sabha today.

DSM/RS/ka

(Release ID :92450)

Development bank mandate: provision and regulation of rural credit through refinance and rural infrastructure funding. NABARD is established as a Development Bank with a statutory mandate to provide and regulate credit for agriculture and rural economic activities by extending refinance to rural financial institutions, cooperatives and Regional Rural Banks for short term crop loans and investment credit, and by administering the Rural Infrastructure Development Fund (RIDF) through allocations, sanctions and disbursements for rural infrastructure projects.