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NABARD is an apex development bank in India. The Reserve Bank of India (RBI) holds the majority stake in it. Headquarters: Mumbai, Maharashtra. Established: 1982 on the recommendations of Shivaraman Committee to implement the National Bank for Agriculture and Rural Development Act, 1981. It has been entrusted with matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India. It is active in developing financial inclusion policy and is a member of the Alliance for Financial Inclusion. Mandate: (i) Facilitate credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. (ii) Support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas.

NABARD's refinance is available to state co-operative agriculture and rural development banks (SCARDBs), state co-operative banks (SCBs), regional rural banks (RRBs), commercial banks (CBs) and other financial institutions approved by RBI. While the ultimate beneficiaries of investment credit can be individuals, partnership concerns, companies, State-owned corporations or co-operative societies, production credit is generally given to individuals.