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Nabard Bank Recruitment For The Post Of Specialist Officer Vacancy In Mumbai
List of all nabard bank recruitment for the post of specialist officer vacancy in mumbai. Click Here View Job List. This page will help you to get all details about nabard bank recruitment for the post of specialist officer vacancy in mumbai. Nabard Bank recruitment 2018 for specialist officer vacancy in Mumbai. Latest nabard bank vacancies for specialist officer vacancy post in 2018.
Job Details
Post Name : Specialist Officers
Qualification : BTech/BE, Any Graduate, CA, CS, MBA/PGDM, BBA, Any Post Graduate, M.
Phil/PhD, BSc, MSc, ME/M.
Tech, MCA, MA, ICWA, LLB, LLM
Salary : Rs 77,000 - Rs 3,25,000/- Per Month
1 Chief Technology Officer 1 Post - First class in 4 years B.
E / B Tech degree from recognized University /Institutes PostGraduation in areas relevant to the role specially in the field of IT will be an added advantage - Post Qualification IT experience of minimum 15 years and at least 5 years at Senior leadership level with expertise mostly in Core Banking Solutions, Alternative Delivery Channels, Application Development, Network & Communication Channels and Data Centre Management, Data warehouse/Big Data Analytics, IT Security & Technology Risk Management.
-To assess present and future emergent IT technologies for NABARDAppraising the management about global developments in emerging IT areas, such as cyber security, cloud computing, virtualization, mobile technology, etcReviewing and updating the IT policies and processes and suggesting strategies for implementation of the required digital shift in NABARDAs a part of Business Continuity Management, ensure that there is no failure in business operations & appropriate disaster recovery plans are in place & regularly tested for readiness for unforeseen events which can impact business continuity
2 Senior Advisor for Computerisation of Rural Credit Institution 1 Post
a.
Educational Qualification: Graduates from any recognized university preferably in information technology
b Experience: IT solutions / projects at middle or senior management level Persons having implementation experience in core banking will be preferred The candidate should have thorough knowledge of cooperative credit structure and working of PACS.
Further, the candidate should have sufficient knowledge in Information Technology, including domain areas such as: a Data Centre & DRS Management b Networking c Security architecture d Application & Database Architecture e.
Application scalability f Performance Evaluation and benchmarking
c Desirable: i Experience in implementing core banking at cooperatives / RRBs/commercial banks ii Digital enablingarchitecture and System planning iii.
Process / product simplification iv Legacy Transformation v Strong leadership skills, demonstrated ability to manage teams and conduct change vi Strong verbal and written communication skills vii Excellent problem solving skills viii.
Strong negotiation skills ix Any specialized training or qualification relating to rural banking and IT
d Job Profile: i The Consultant will provide Technical and related inputs to the PACS computerisation Team in NABARD.
ii The Consultant will report to the GM / CGM of NABARD iii Prepare and help finalise EoI (Expression of Interest) and RFP (Request for proposal) iv.
Provide clarification to States / Vendors in respect of EoI / RFP (in pre-bid meet) v Facilitate identification of various vendors and prepare recommendatory note for vetting
3 Chief Risk Manager 1 Post
a Educational Qualification: Essential Post- Graduation / Masters in Management from one of the top institutes (excluding online or distant) or CA / CS Certification in Risk Management from GARP / PRMIA.
Desirable Certification in Banking / CFA Degree in Statistics Qualification in Law (3 year regular course)
b Experience: Essential More than 20 years experience in Banking sector More than 5 year experience in Senior Management level in a Bank in Risk Management Desirable Experience of working as CRO/ Head of Risk Experience of handling high value credit at senior level.
Experience of having worked with a AIFI in Risk Management area
c Job Profile: 1 The consultant will act as Principal advisor in Risk Management in all risk domains including credit risk, market risk & operation risk 2.
Reassessing of high value credit proposals including infrastructure 3 Strengthening the risk management framework in the bank including implementation & operation of Enterprise Wide Risk Management Software
4 Project Manager for Rural Credit Institutions Computerisation 3 Posts
a.
Qualification: Essential: Graduates from any recognized university with minimum 05 year’ experience in project management Desirable: Qualification relating to development finance, rural banking and IT project implementation in rural banks Project management certification
b Essential: Minimum 05 years in Project Management Desirable: Minimum 03 years in core banking / PACS software solution implementation at any Commercial Bank/ RRB/ Cooperative bank / PACS and banking operations.
Working knowledge of operations in cooperative banks
c Job Profile: The Project Manager will be responsible for the planning, implementation, execution, supervision and control of all steps of the project of Computerisation The Project Manager will be responsible for: 1 Ensuring that the project is successfully implemented, in a time bound fashion and meeting required quality standards across deliverables 2 Defining functional, technical and operational details of the project, agreement preparation and selection of vendors including finalization of service level agreements.
5 Assistant Project ManagerStorage, Marketing & Processing 1 Post
a Qualification: Graduate / Post Graduate, Doctorate in Food Technology /Food Engineering / Food Processing
b Experience: i.
Experience of working in Food Processing Industry for a minimum of 03-05 years (or) ii Experience in implementation /execution / operation of food parks / mega food parks for a minimum period of 3 years Desirable: i 03-05 years experience in Project appraisal, monitoring & evaluation of food processing industry.
ii 03-05 years experience in associating with capacity building for project appraisals
c Job Profile: Techno-Financial appraisal of the projects received under the Food Processing Fund and Warehouse Infrastructure Fund by undertaking detailed analysis of the technical aspects (suitability of the location, raw materialand utilities availability, analysis of the suitability of technology proposed and its cost, framing techno-economic assumptions for assessing the technical feasibility, financial viability and bankability, etc) based on the detailed analysis undertaken by him.
The consultant would be required to guide in recommending the project for sanction or otherwise for term loan, suggest appropriate modifications to the project components, risk mitigation measures, project specific special terms and conditions, etc
6 Assistant Project Manager
a Qualification: Post Graduate in Agriculture (Agronomy / soil science / Agro Meteorology/ Hydro-geology) or AgriEngineering (Soil and water conservation / Climate change Adaptation/ Forestry/ Horticulture) or equivalent, BSc-M.
Sc (Integrated) Climate Change Adaptation Desirable: Diploma or training in Climate Change related aspectsBTech in Electrical Engineering / Environment Engineering or Post Graduate in ClimateScience, Sustainability, Environment Management, Renewable Energy or equivalent course.
Desirable: Diploma or training in Climate Change related aspects
b 3 to 5 years of experience of projects formulation/ implementation/ monitoring in the field of Renewable energy andareas of specialization indicated above Desirable: Coordination between funding & implementing agencies
7.
Assistant Project Manager, MIS & Reports 1 post
a Qualification: BTech in Computer Science or BSc in computers or MCA or equivalent course Desirable: Diploma / Certificate course / training in climate science related aspects.
Experience in management and reporting of the developmental(preferably NRM) projects and programme, knowledge and experience of integrating and management of GIS and Remote Sensing in development projects and programmes
b Experience: 3 to 5 years
8 Risk Managers (06 posts)
a Qualification: Essential Post Graduate in Economics/ Statistics/ Finance/ MBA from a recognized university.
Desirable Specialised qualifications in Risk Management from Professional Risk Managers’ International Association (PRMIA)/ Global Associationof Risk Professionals (GARP) and/ or CA/ CFA/ ICWA/ ACS/ CAIIB or equivalent qualification
b Experience: Essential Experience of 5-8 years in Banking, Financial Sector and Insurance (BFSI) in the field of credit risk/ market risk/ operational risk Desirable Experience in working with Statistical models, formulating risk rating modules, working in RiskManagement of Software implementation
9.
Senior Project Finance Manager (1 post) - CA/ MBA (Finance), BTech/ BE with MBA Finance - 05 years experience in Infrastructure project finance/ syndication/ consortium lending, credit operations, monitoring of the consortium portfolio - Marketing and business development under syndication and consortium lending, project appraisal, operations and monitoring of the projects, Risk Monitoring, recovery management etc
10.
Project Finance Manager (Infrastructure projects) (1 post) - CA/ MBA (Finance), BTech/ BE with MBA Finance - 03-05 years experience in appraising, structuring, financing of infrastructure projects, credit operations and monitoring - Marketing and business development under projects lending, project appraisal, operations and monitoring of the projects, Risk Monitoring, recovery management etc
11.
Specialist Officer (Legal Aspects) (1 post) - BA LLB /LLM - 02-03 years experience in legal aspects of project lending including documentation / recovery management / legal aspects of financing State Governments and State Government Corporations, loan syndication, dealing with Debt recovery Tribunal (DRT) cases
12 Communication Professionals (02 posts one each for Mumbai & New Delhi) - Essential Bachelor of Art or Mass communication from a recognized University with knowledge of Editing, composing, post production, visual designing, graphics designing, flash & web designing - Essential: 2 Years in relevant field Desirable: 04 Years in related fields
13 Duration: The period of engagement on contract will be as above i.
e 2 years, extendable by 01 year except in case of post at Sl No 2 which is for a maximum period of 06 months The monthly remuneration is all inclusive & shall be liable for TDS as per Income Tax Act & Rules in force.
The appointment shall be subject to review of performance on half yearly basis in respect of all posts except at Sr No 2 for which it will be on quarterly basis The termination of contract will be by giving one months’ notice on either side The contract period can be extended further by 01 year based on the performance of the contract employee and requirement of NABARD.
The contract employee shall have no right or claim for regular employment in the organization The Bank may terminate the contract of service if the performance is found unsatisfactory
Age: 63 years (as on 30062018)
Application Fee: SC/ST/ PWBD - 50 & Others - 500
Address
National Bank For Agriculture And Rural Development, Plot C-24, G Block, Bandra Kurla complex, BKC Road, Bandra East, Mumbai, Maharashtra 400051
Others
1 .
Applicants working in Government/ Quasi Government, PSUs, Banks & FIs will be required to submit NOC from the employer at the time of interview, failing which candidate will not be allowed to appear for interview and shall not be eligible for TA for interviewSuperannuation Benefits The staff on contract shall not be entitled to any superannuation benefits viz, Provident Fund, Pension, Gratuity, etc
2 Residential Accommodation / HRA No Residential accommodation will be provided by the bank.
Travelling & Halting Allowance The Consultant will be eligible for TA/HA as admissible to an officer of the bank as per extant TA Rules
3 Leave: The Specialist officer on contract shall be entitled for a leave up to a maximum of 30 days in a calendar year during the contract period on proportionate basis provided that not more than 07 days leave may be availed at a stretch and that Saturday/Sunday/Holiday may not be combined in such a way that total absence on any one occasion exceeds 10 days (including intervening holidays / Saturday /Sunday), if any Leave will however be granted subject to exigencies of work Any absence beyond the above period will be treated as leave without any pay and the remuneration payable to him will be reduced to that extent.
The leave shall be earned on pro-rata basis in a calendar year & shall not be allowed to carry forward to next calendar year
Selection Procedure
The candidates will be shortlisted for interview in the ratio of 1:10 on the basis of qualification, experience, etc The Bank reserves the right to increase/ decrease the number of post/s or cancel the above contract recruitment in part or full as per institutional requirement without assigning any reason The roll nos of candidates shortlisted for interview & subsequent selection shall be published on Bank’s website viz.
wwwnabardorg The decision of the Bank in shortlisting for interview & selecting the candidates for appointment based on minimum qualifying standard shall be final & no correspondence will be entertained in this regard
How to Apply
Only online applications must be submitted in the proforma provided on our website www.
nabardorg Online Application Registration & Payment of Application Fee 14 June 2018 to 05 July 2018
Qualification : BTech/BE, Any Graduate, CA, CS, MBA/PGDM, BBA, Any Post Graduate, M.
Phil/PhD, BSc, MSc, ME/M.
Tech, MCA, MA, ICWA, LLB, LLM
Salary : Rs 77,000 - Rs 3,25,000/- Per Month
1 Chief Technology Officer 1 Post - First class in 4 years B.
E / B Tech degree from recognized University /Institutes PostGraduation in areas relevant to the role specially in the field of IT will be an added advantage - Post Qualification IT experience of minimum 15 years and at least 5 years at Senior leadership level with expertise mostly in Core Banking Solutions, Alternative Delivery Channels, Application Development, Network & Communication Channels and Data Centre Management, Data warehouse/Big Data Analytics, IT Security & Technology Risk Management.
-To assess present and future emergent IT technologies for NABARDAppraising the management about global developments in emerging IT areas, such as cyber security, cloud computing, virtualization, mobile technology, etcReviewing and updating the IT policies and processes and suggesting strategies for implementation of the required digital shift in NABARDAs a part of Business Continuity Management, ensure that there is no failure in business operations & appropriate disaster recovery plans are in place & regularly tested for readiness for unforeseen events which can impact business continuity
2 Senior Advisor for Computerisation of Rural Credit Institution 1 Post
a.
Educational Qualification: Graduates from any recognized university preferably in information technology
b Experience: IT solutions / projects at middle or senior management level Persons having implementation experience in core banking will be preferred The candidate should have thorough knowledge of cooperative credit structure and working of PACS.
Further, the candidate should have sufficient knowledge in Information Technology, including domain areas such as: a Data Centre & DRS Management b Networking c Security architecture d Application & Database Architecture e.
Application scalability f Performance Evaluation and benchmarking
c Desirable: i Experience in implementing core banking at cooperatives / RRBs/commercial banks ii Digital enablingarchitecture and System planning iii.
Process / product simplification iv Legacy Transformation v Strong leadership skills, demonstrated ability to manage teams and conduct change vi Strong verbal and written communication skills vii Excellent problem solving skills viii.
Strong negotiation skills ix Any specialized training or qualification relating to rural banking and IT
d Job Profile: i The Consultant will provide Technical and related inputs to the PACS computerisation Team in NABARD.
ii The Consultant will report to the GM / CGM of NABARD iii Prepare and help finalise EoI (Expression of Interest) and RFP (Request for proposal) iv.
Provide clarification to States / Vendors in respect of EoI / RFP (in pre-bid meet) v Facilitate identification of various vendors and prepare recommendatory note for vetting
3 Chief Risk Manager 1 Post
a Educational Qualification: Essential Post- Graduation / Masters in Management from one of the top institutes (excluding online or distant) or CA / CS Certification in Risk Management from GARP / PRMIA.
Desirable Certification in Banking / CFA Degree in Statistics Qualification in Law (3 year regular course)
b Experience: Essential More than 20 years experience in Banking sector More than 5 year experience in Senior Management level in a Bank in Risk Management Desirable Experience of working as CRO/ Head of Risk Experience of handling high value credit at senior level.
Experience of having worked with a AIFI in Risk Management area
c Job Profile: 1 The consultant will act as Principal advisor in Risk Management in all risk domains including credit risk, market risk & operation risk 2.
Reassessing of high value credit proposals including infrastructure 3 Strengthening the risk management framework in the bank including implementation & operation of Enterprise Wide Risk Management Software
4 Project Manager for Rural Credit Institutions Computerisation 3 Posts
a.
Qualification: Essential: Graduates from any recognized university with minimum 05 year’ experience in project management Desirable: Qualification relating to development finance, rural banking and IT project implementation in rural banks Project management certification
b Essential: Minimum 05 years in Project Management Desirable: Minimum 03 years in core banking / PACS software solution implementation at any Commercial Bank/ RRB/ Cooperative bank / PACS and banking operations.
Working knowledge of operations in cooperative banks
c Job Profile: The Project Manager will be responsible for the planning, implementation, execution, supervision and control of all steps of the project of Computerisation The Project Manager will be responsible for: 1 Ensuring that the project is successfully implemented, in a time bound fashion and meeting required quality standards across deliverables 2 Defining functional, technical and operational details of the project, agreement preparation and selection of vendors including finalization of service level agreements.
5 Assistant Project ManagerStorage, Marketing & Processing 1 Post
a Qualification: Graduate / Post Graduate, Doctorate in Food Technology /Food Engineering / Food Processing
b Experience: i.
Experience of working in Food Processing Industry for a minimum of 03-05 years (or) ii Experience in implementation /execution / operation of food parks / mega food parks for a minimum period of 3 years Desirable: i 03-05 years experience in Project appraisal, monitoring & evaluation of food processing industry.
ii 03-05 years experience in associating with capacity building for project appraisals
c Job Profile: Techno-Financial appraisal of the projects received under the Food Processing Fund and Warehouse Infrastructure Fund by undertaking detailed analysis of the technical aspects (suitability of the location, raw materialand utilities availability, analysis of the suitability of technology proposed and its cost, framing techno-economic assumptions for assessing the technical feasibility, financial viability and bankability, etc) based on the detailed analysis undertaken by him.
The consultant would be required to guide in recommending the project for sanction or otherwise for term loan, suggest appropriate modifications to the project components, risk mitigation measures, project specific special terms and conditions, etc
6 Assistant Project Manager
a Qualification: Post Graduate in Agriculture (Agronomy / soil science / Agro Meteorology/ Hydro-geology) or AgriEngineering (Soil and water conservation / Climate change Adaptation/ Forestry/ Horticulture) or equivalent, BSc-M.
Sc (Integrated) Climate Change Adaptation Desirable: Diploma or training in Climate Change related aspectsBTech in Electrical Engineering / Environment Engineering or Post Graduate in ClimateScience, Sustainability, Environment Management, Renewable Energy or equivalent course.
Desirable: Diploma or training in Climate Change related aspects
b 3 to 5 years of experience of projects formulation/ implementation/ monitoring in the field of Renewable energy andareas of specialization indicated above Desirable: Coordination between funding & implementing agencies
7.
Assistant Project Manager, MIS & Reports 1 post
a Qualification: BTech in Computer Science or BSc in computers or MCA or equivalent course Desirable: Diploma / Certificate course / training in climate science related aspects.
Experience in management and reporting of the developmental(preferably NRM) projects and programme, knowledge and experience of integrating and management of GIS and Remote Sensing in development projects and programmes
b Experience: 3 to 5 years
8 Risk Managers (06 posts)
a Qualification: Essential Post Graduate in Economics/ Statistics/ Finance/ MBA from a recognized university.
Desirable Specialised qualifications in Risk Management from Professional Risk Managers’ International Association (PRMIA)/ Global Associationof Risk Professionals (GARP) and/ or CA/ CFA/ ICWA/ ACS/ CAIIB or equivalent qualification
b Experience: Essential Experience of 5-8 years in Banking, Financial Sector and Insurance (BFSI) in the field of credit risk/ market risk/ operational risk Desirable Experience in working with Statistical models, formulating risk rating modules, working in RiskManagement of Software implementation
9.
Senior Project Finance Manager (1 post) - CA/ MBA (Finance), BTech/ BE with MBA Finance - 05 years experience in Infrastructure project finance/ syndication/ consortium lending, credit operations, monitoring of the consortium portfolio - Marketing and business development under syndication and consortium lending, project appraisal, operations and monitoring of the projects, Risk Monitoring, recovery management etc
10.
Project Finance Manager (Infrastructure projects) (1 post) - CA/ MBA (Finance), BTech/ BE with MBA Finance - 03-05 years experience in appraising, structuring, financing of infrastructure projects, credit operations and monitoring - Marketing and business development under projects lending, project appraisal, operations and monitoring of the projects, Risk Monitoring, recovery management etc
11.
Specialist Officer (Legal Aspects) (1 post) - BA LLB /LLM - 02-03 years experience in legal aspects of project lending including documentation / recovery management / legal aspects of financing State Governments and State Government Corporations, loan syndication, dealing with Debt recovery Tribunal (DRT) cases
12 Communication Professionals (02 posts one each for Mumbai & New Delhi) - Essential Bachelor of Art or Mass communication from a recognized University with knowledge of Editing, composing, post production, visual designing, graphics designing, flash & web designing - Essential: 2 Years in relevant field Desirable: 04 Years in related fields
13 Duration: The period of engagement on contract will be as above i.
e 2 years, extendable by 01 year except in case of post at Sl No 2 which is for a maximum period of 06 months The monthly remuneration is all inclusive & shall be liable for TDS as per Income Tax Act & Rules in force.
The appointment shall be subject to review of performance on half yearly basis in respect of all posts except at Sr No 2 for which it will be on quarterly basis The termination of contract will be by giving one months’ notice on either side The contract period can be extended further by 01 year based on the performance of the contract employee and requirement of NABARD.
The contract employee shall have no right or claim for regular employment in the organization The Bank may terminate the contract of service if the performance is found unsatisfactory
Age: 63 years (as on 30062018)
Application Fee: SC/ST/ PWBD - 50 & Others - 500
Address
National Bank For Agriculture And Rural Development, Plot C-24, G Block, Bandra Kurla complex, BKC Road, Bandra East, Mumbai, Maharashtra 400051
Others
1 .
Applicants working in Government/ Quasi Government, PSUs, Banks & FIs will be required to submit NOC from the employer at the time of interview, failing which candidate will not be allowed to appear for interview and shall not be eligible for TA for interviewSuperannuation Benefits The staff on contract shall not be entitled to any superannuation benefits viz, Provident Fund, Pension, Gratuity, etc
2 Residential Accommodation / HRA No Residential accommodation will be provided by the bank.
Travelling & Halting Allowance The Consultant will be eligible for TA/HA as admissible to an officer of the bank as per extant TA Rules
3 Leave: The Specialist officer on contract shall be entitled for a leave up to a maximum of 30 days in a calendar year during the contract period on proportionate basis provided that not more than 07 days leave may be availed at a stretch and that Saturday/Sunday/Holiday may not be combined in such a way that total absence on any one occasion exceeds 10 days (including intervening holidays / Saturday /Sunday), if any Leave will however be granted subject to exigencies of work Any absence beyond the above period will be treated as leave without any pay and the remuneration payable to him will be reduced to that extent.
The leave shall be earned on pro-rata basis in a calendar year & shall not be allowed to carry forward to next calendar year
Selection Procedure
The candidates will be shortlisted for interview in the ratio of 1:10 on the basis of qualification, experience, etc The Bank reserves the right to increase/ decrease the number of post/s or cancel the above contract recruitment in part or full as per institutional requirement without assigning any reason The roll nos of candidates shortlisted for interview & subsequent selection shall be published on Bank’s website viz.
wwwnabardorg The decision of the Bank in shortlisting for interview & selecting the candidates for appointment based on minimum qualifying standard shall be final & no correspondence will be entertained in this regard
How to Apply
Only online applications must be submitted in the proforma provided on our website www.
nabardorg Online Application Registration & Payment of Application Fee 14 June 2018 to 05 July 2018
Candidate Profile
B.Tech/B.E, Any Graduate, CA, CS, MBA/PGDM, B.B.A, Any Post Graduate, M.Phil/Ph.D, B.Sc, M.Sc, M.E/M.Tech, MCA, M.A, ICWA, LLB, LLM
Nabard Bank is looking for B.E. / B.Tech , MBA / PGDM / MBM , B.Sc , BBA / BBM / BBS , MCA , M.A. , M.E. / M.Tech , LLB , CA , CS , ICWA , M.Phil , M.Sc , Any Graduate profile candidates.
Short Job Information
Job Title : Specialist Officer Vacancy
Company Name : Nabard Bank
Job Location : Mumbai
Education : B.E. / B.Tech , MBA / PGDM / MBM , B.Sc , BBA / BBM / BBS , MCA , M.A. , M.E. / M.Tech , LLB , CA , CS , ICWA , M.Phil , M.Sc , Any Graduate
Category : Government Jobs
Experience : Freshers
Post Date : 20 June, 2018
Last Date : 20 June, 2019
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How to Apply for Specialist Officer Vacancy
Address
National Bank For Agriculture And Rural Development, Plot C-24, G
Block, Bandra Kurla complex, BKC Road, Bandra East, Mumbai,
Maharashtra 400051
National Bank For Agriculture And Rural Development, Plot C-24, G
Block, Bandra Kurla complex, BKC Road, Bandra East, Mumbai,
Maharashtra 400051
About Nabard Bank
The importance of institutional credit in boosting rural economy has been clear to the Government of India right from its early stages of planning. Therefore, the 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.
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.
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.
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.
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