NABARD | Full Form | Chairman | Headquarters

NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC).

It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982. Set up with an initial capital of Rs.100 crore, its’ paid up capital stood at Rs.14,080 crore as on 31 March 2020. Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by Government of India. 


NABARD Full Forms – National Bank for Agriculture and Rural Development (NABARD)

NABARD initiatives are aimed at building an empowered and financially inclusive rural India through specific goal oriented departments which can be categorized broadly into three heads:

  • Financial,
  • Developmental and
  • Supervision. 

Reserve Bank of India (RBI) at the insistence of the Government of India, constituted a Committee to Review the Arrangements For Institutional Credit for Agriculture and Rural Development (CRAFICARD) to look into these very critical aspects.

The Committee was formed on 30 March 1979, under the Chairmanship of Shri B. Sivaraman, former member of Planning Commission, Government of India.   The Committee’s interim report, submitted on 28 November 1979, outlined the need for a new organisational device for providing undivided attention, forceful direction and pointed focus to credit related issues linked with rural development.

Its recommendation was formation of a unique development financial institution which would address these aspirations and formation of National Bank for Agriculture and Rural Development (NABARD) was approved by the Parliament through Act 61 of 1981.

The SHG Bank Linkage Project launched by NABARD in 1992 has blossomed into the world’s largest micro finance project. Kisan Credit Card, designed by NABARD has become source of comfort for crores of farmers. The Organization is financed one fifth of India’s total rural infrastructure. 

Management of NABARD

The management and business of NABARD vest with the Board of Directors appointed by Government of India in consultation with RBI.

The Board consists of the Chairman, Managing Director, Deputy Managing Director/s, and Directors appointed under various sections of NABARD Act i.e. three experts in rural economics, rural development, cottage and village industries, cooperative banks, regional
rural banks, etc., three from the directors of RBI, three from officials of the Central government and four from officials of the State governments.

The financial resources at the disposal of NABARD were ₹5,32,075 crore as on 31 March 2020, as compared to ₹4,87,470 crore in the previous year, registering an increase of 9.15% over the previous year.

Chairman of NABARD

Dr. G.R. Chintala is the Chairman of National Bank for Agriculture and Rural Development (NABARD) with effect from 27 May 2020. Previously, he was the Managing Director of NABFINS, a subsidiary of NABARD headquartered in Bengaluru. 

Dr. G.R. Chintala, a Post Graduate from the prestigious Indian Agricultural Research Institute, New Delhi, joined NABARD as an officer and worked in various capacities at the Head Office, Mumbai and Regional Offices including Hyderabad, Chandigarh, Lucknow, Andaman & Nicobar Islands, New Delhi and Bengaluru.

He was also the Vice President of Agri-Business Finance Ltd., Hyderabad and the Director of Bankers Institute of Rural Development (BIRD), Lucknow. Dr. G.R. Chintala has handled several consultancy assignments including a significant one on “Roadmap for Amalgamation of Regional Rural Banks” in 2006 that led the way for the consolidation of 196 RRBs.

He also undertook a consultancy assignment on “Efficacy of SGSY in meeting the aspirations of SCs/STs” commissioned by the Ministry of Rural Development, whose recommendations helped in launching National Rural Livelihood Mission (NRLM) throughout the country and phasing out the SGSY. Shri Chintala had also successfully introduced the Producers Organisations model in Andaman & Nicobar Islands.

Subsidiaries of NABARD

NABARD has promoted six subsidiaries over the years

NABARD Consultancy Services (NABCONS)

NABCONS was established in 2003 and registered under the Company’s Act, 1956. It is a wholly owned subsidiary promoted by NABARD with an authorized capital of ₹25 crore and paid up capital of ₹5 crore. In tune with NABARD’s mission to bring about rural prosperity,
Nabcons is engaged in providing consultancy in all spheres of agriculture, rural development and allied areas.

It has a PAN India presence and its clientele includes Central, State and Foreign Governments, international organisations, corporate offices, MNCs, etc.
Consultant Review Magazine published a cover page story on NABCONS and had shortlisted it amongst the 10 Most Promising International Corporate Consultant during 2019.

NABCONS has strengthened its momentum of business growth in 2019-20 with contracting business worth ₹100.4 crore and by crossing the ₹100 crore mark for the third time in its growth journey. Income from assignments was ₹52.5 crore during FY 2019-20.

NABKISAN Finance Limited (NKFL)

NKFL (formerly “Agri Development Finance (Tamil Nadu) Limited”) was incorporated under the Companies Act, 1956 in 1997 and notified as a Non-Banking Finance Company
(NBFC) by RBI. NKFL is a subsidiary of NABARD with 87.48% equity participation from NABARD, and others like Govt. of Tamil Nadu, Indian Bank, Indian Overseas Bank,
Tamilnad Mercantile Bank, Canara Bank, ICICI Bank, Federal Bank, Lakshmi Vilas Bank and a few Corporates / Individuals.

NABARD’s contribution to its share capital stands at ₹120.40 crore. The main objective of the company is to provide credit for promotion, expansion and commercialization of enterprises engaged in agriculture, allied and rural non-farm activities. It provides support for livelihood/ income generating activities by extending credit to Panchayat Level Federations, Trusts, Societies and Section 8 companies/MFIs for on-lending to its member

NKFL is operating in 20 States and the current focus is financing FPOs. During the year, 162 FPO proposals were sanctioned under retail portfolio aggregating to ₹56 crore. Another 40 FPOs were credit linked under on lending model. Cumulatively, more than 550 FPOs were
credit linked during last 4 years. During the year, ₹646.84 crore was sanctioned towards FPOs, livelihood and income generating activities through NBFCs, MFIs, NGOs, and trusts and ₹608.27 crore was disbursed.


NABSAMRUDDHI Finance Limited was incorporated under Companies Act, 1956 on 1997 under the name of Agri Business Finance Limited (ABFL), Hyderabad and registered as Non-Banking Financial Company with the RBI.

It is promoted with equity participation from NABARD, Andhra Bank, Canara Bank, Government of Andhra Pradesh, Government of Telangana, Andhra Pradesh State Cooperative Bank, Telangana State Cooperative Apex Bank and a few Industrial Houses / individuals from the State. The share capital of the Company increased from ₹63.1 crore to ₹116.1 crore in the year 2019-20. NABARD currently holds 90.7% equity.

The objective of NABSAMRUDDHI is to provide credit facilities to individuals and legal entities for promotion, expansion, commercialization and modernization of enterprises and individuals engaged in non-farm activities including microfinance, MSME, housing,
education, transport, etc.

NABARD Financial Services Limited (NABFINS)

NABARD Financial Services Limited (NABFINS) is a subsidiary of NABARD with equity participation from NABARD, Government of Karnataka, Canara Bank, Union Bank of India, Bank of Baroda, Dhanalakshmi Bank and Federal Bank. It is a non-deposit taking NBFC
registered with the Reserve Bank of India and shall operate throughout India.

The main objective of NABFINS is to provide financial services in two broad areas of agriculture and microfinance. It provides credit and other facilities for promotion, expansion, commercialization, and modernization of agriculture and allied activities. It provides micro finance services (with or without thrift) and other facilities to needy and
disadvantageous sections of the society in both rural and urban areas.

NABFINS has total loan outstanding of ₹1,636.81 crore as on 31 March 2020 with 201 branches. During 2019-20, the CRAR of the company stood at 19.5% as against 18.8%
in the previous financial year. The profit before tax for the year 2019-20 is estimated at ₹59.10 crore as against ₹52.50 crore in previous year.


NABVENTURES Limited, a wholly-owned subsidiary of NABARD, is an Asset Management Company, set up under Companies Act, 2013 with an initial capital of ₹5.0 crore. The objective of the Company is to manage venture growth equity funds that invest in early to mid-stage startups/companies in agriculture, food, related financial services and rural healthtech/edutech.

NABVENTURES has made a profit of ₹2.99 crore during 2019-20 against a loss of ₹0.13 crore during 2018-19. Return on Equity (RoE) of the Company stood at 47% during 2019-20 against (-) 2.8% during the previous year.


A wholly owned subsidiary of NABARD has been formed for complementing the efforts of NABARD’s development departments, and to provide required support to these departments in furthering NABARD’s agenda of agriculture and rural development.

Its objective is to collaborate with other organisations like civil society organisations, agri universities, government departments and CSR outfits of both public and private organisations in executing innovative projects. Its authorized capital stands at ₹5.0 crore and paid up capital is ₹1.0 crore. Its Development Corpus Fund is ₹5.0 Crore.

Raveendran R
Editor @

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