Economics

Difference between Reserve Bank of India (RBI) and National Bank forAgriculture and Rural Development (NABARD)

In this article we will discuss about Difference between Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD)


NABARD

Difference between Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD)

It is an apex bank of India which regulates and develops agricultural as well as rural development. It was established in 12 July 1982 and its headquarters are located in Mumbai with its branches in all over India.

The main concern of this apex institution is to provide credit facility to Agricultural and other rural areas in India. It also provides necessary finance to small industries.

After independence the government of India has decided to improve rural and agriculture credit development. The government of India has decided to set up committee which the credit worthiness in rural and agricultural sector.  National Bank for Agriculture and Rural Development was established in 12 July 1982 by the Parliament Act 61, 1981. Its main objective is to replace agriculture Credit Department and Rural planning and Credit cell. This committee was called All India Rural Credit Survey Committee. It was headed by Mr.Gorewalla.  It has been controlled by RBI. The major function of RBI to provide fund to different sector which helps in development of Agriculture and rural sector.

RBI

RBI refers to Reserve bank of India, and it is a central bank of India whole have only right to print and issue currency to public or other sectors on behalf of Government.RBI controls monetary policy of India and accelerate finance in India.

The Central Bank was an independent apex monetary authority which regulates banks and provides important financial services

Difference between Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development (NABARD)

 

Basis RBI NABARD
Meaning RBI refers to Reserve bank of India, and it is a central bank of India whole has only right to print and issue currency to public or other sectors on behalf of Government. It is an apex bank of India which regulates and develops agricultural as well as rural development.
Type of Bank Central Bank Apex Bank
Headquarters Mumbai, Maharashtra Mumbai
Established RBI is established in 1 April 1935. NABARD is  established in 12 July 1982.
Provides Finance to To Other institutions and Banks To Rural Agricultural development.
Right to Issue currency        YES           NO

 

 

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