India has been fast developing, but the growth of the development is yet to reach many. Quite large proportions of country's population still live below the poverty line and there is a continuous effort to lift them up. The problem of poverty and unemployment is the most degrading experience of human existence. Growth by itself does not end poverty, it is the manner in which we plan to grow that matters. Hence, a poverty alleviation program has been planned in such a way to meet the problem of poor people living below poverty line. Accordingly, various development progresses have come into existence in India both in rural and urban areas. India is an agriculture-based country. Out of the total population, 70% depend on agriculture which contribute 17.5% of gross domestic profit in national income. A large part of Indian population lives in rural areas. There is no permanent machinery in rural sector for its development. Considering the problem, the Indian government established an institution in 1982, named as National Bank for Agriculture and Rural Development (Nabard) whose head office is in Mumbai.

All the banks and other institutions that are working for the development of rural areas get affiliated with Nabard. Since several years it provides various facilities to the agriculture and rural sector, such as credit facility and has become an apex institution in the development of agriculture and rural sector. It is a specialized institution in providing banking loans for the integrated development of rural sector. The Reserve Bank of India (RBI) in consultation with the Government of India has set up a committee to review the arrangement for institutional Credit for Agriculture and Rural Development (CRAFICARD) in 1979 under the Chairmanship of B Shivraman. The CRAFICARD recommended in its report for the setting up of the Nabard. The objective of the Nabard is to give undivided attention to the problem of providing all types of production and investment credit to various rural sectors like agriculture, small-scale and cottage industries such as handicrafts to artisans and to other allied activities in an integrated manner. The Government of India accepted the above recommendation of CRAFICARD consequent upon this acceptance. The Nabard bill was passed by the parliament in December 1981 and Nabard came into existence in July 1982.

Professional Banker Magazine, Nabard-SHG Parternership, Self Help Groups, SHGs, Banking Program, National Bank for Agriculture and Rural Development, Nabard, Poverty Alleviation Program, Credit for Agriculture and Rural Development, CRAFICARD, Agriculture Refinance and Development Corporation, Regional Rural Banks, Agricultural Operations, banking Sector, Rural Infrastructure Development Fund, Financial Services.