NABARD was established in 1982 by an act of Parliament to serve as the apex development bank for agriculture and rural development in India. It provides refinancing support to agriculture, small industries, and rural development efforts. NABARD's functions include implementing policy related to agricultural credit, promoting irrigation projects, supporting research and development, and providing refinancing during natural calamities.

2. INDRODUCTION
In July 1982, NABARD was set up by
passing of an Act in Parliament. NABARD is set
up as an apex Development Bank for facilitating
credit flow for promotion and development of
agriculture, small-scale industries, cottage ,village
industries, handicrafts and other rural
development .

3. National Bank for Agriculture and Rural Development
Logo of NABARD Headquarters in Mumbai
Headquarters Mumbai, Maharashtra, India
Established 12 July 1982
Chairman Dr. Prakash Bakshi
Currency Rupees
Reserves 81,220 crore (US$14.78 billion) (2007)

4. CAPATIAL STRUCTURE
The authorised share capital was Rs.500
crores initially. But now it has been raised to
Rs. 2,000 crores and it has a paid up capital of
Rs. 1,000 crores. The bank gets its funds from
the government of India, World Bank and
Reserve Bank of India.

5. Functions of NABARD
 It provides refinancing to agriculture, small
scale industries and other village and
cottage industries.
 It promotes minor irrigation projects by
financing State Government's sponsored
irrigation projects.

6. Cont.,
 The bank implements the policy of the
central Government and the RBI with
regard to agricultural credit.
 The bank helps in the Research &
Development of agriculture and rural
industries.
 During natural calamities the bank helps to
refinancing.

7. MAJOR ROLES FUNCTIONS OF
NABARD
 Credit Functions
 Developmental and Promotional Functions
 Supervisory Functions
 Institutional and Capacity building
 Role in Training

8. MAJOR DEPARTMENTS IN NABARD
 Accounts Department
 Business Initiatives Department
 Central Vigilance Cell
 Corporate Communications Department
 Corporate Planning Department
 Department of Core Banking Solution
 Department of Economic Analysis & Research
 Department of Information Technology
 Department of Refinance
 Department of Supervision

9. CONCLUSION
Thus we find that the role of RBI in
agricultural finance has been not only taken
over by NABARD but it has been
discharging it to the at most satisfaction of
all the parties concerned.