NABARD is ensuring development and prosperity in rural areas by making rural banking accessible, says Home Minister Amit Shah

Union Cooperation Minister Amit Shah has said that National Bank for Agriculture and Rural Development NABARD is ensuring development and prosperity in rural areas by making rural banking accessible.

Addressing the 42nd Foundation Day of NABARD in New Delhi this evening, Mr Shah said, a country that has more than 65 percent rural population cannot be imagined without an institution like NABARD. The Cooperation Minister said, for the last four decades, NABARD has proved to be the backbone of this country’s rural economy, infrastructure, agriculture, and cooperative institutions. He said, it has been the backbone for self-help groups for over one and a half decades. Mr Shah said, today villages are becoming self-sufficient, and at the same time agriculture, the soul of the rural economy, is making its mark in the whole world. He said, NABARD has a huge role in making every person in the village self-reliant especially the women, through self-help groups and establishing them in society with self-respect.

The Cooperation Minister said, NABARD has successfully increased the work of refinancing and capital formation. he said, so far eight lakh crore rupees have been injected into the rural economy through NABARD for capital formation. He said, to meet the various needs of agriculture, NABARD has refinanced 12 lakh crore rupees in the rural economy.

Mr Shah said, in 42 years, NABARD did the work of refinancing 20 lakh crore rupees. He said, it is a big achievement in the rural economy. He said, no one except NABARD can do the work of strengthening the country’s rural economy, strengthening finance in the country’s cooperative system, and increasing rural infrastructure in the Amrit Kaal of Independence. The Cooperation Minister said, NABARD has provided financial assistance to one crore Self Help Groups. He said, it is the largest programme of microfinancing in the whole world and the country achieved this feat through NABARD.

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