NABARD Aims At Rural Development

KOLKATA, INDIA (GaeaTimes.com)- NABARD (National Bank for Agriculture and Rural Development) is all set to set it’s foot forward for the promotion of rural credit bureaus in accordance to CIBIL (Credit Information Bureau of India Ltd). The main objective of NABARD is to give impetus to the flow of credit for the rural sectors.

Speaking on the same note, Dr K.G. Karmakar who happens to be the Managing Director of NABARD, told the media that NABARD is working on every single detail for the successful implementation of the plan. The Managing Director also said that the bureau is trying all measures to secure and maintain all information for the rural borrowers. As a matter of fact, CIBIL has been repository of the commercial and consumer borrower information and wants NABARD to follow the same line. NABARD Managing Director also underlined the fact that there could be only one bureau for each state which shall function to extend the networking panel up to the district level. D.G Karmakar was attending the “Outreach 2010″ seminar organized by the Bengal Chamber of Commerce And Industry when he spoke of NABARD’s disbursements as in the current fiscal year which is a total amount of Rs 3,75,000 crore. This is an increment from the last year stand when the Disbursement figure was Rs 3,25,000 crore.

While addressing the crowd in the Outreach 2010 seminar NABARD Managing Director emphasized upon the need of a coherent structure which needs to be followed by one and all in the system to make the flow of credit come smooth for the rural sector. He also said that NABARD shall follow an effective financial system to serve all excluded segments of the rural sector which shall be beneficial for an all round economic growth.