International Journal of Commerce and Economics

authors
Upendra Prasad Raut

abstract
The National Bank for Agriculture and Rural Development (NABARD) was set up in July, 1982 following after the recommendations of the Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development. All major issues related to rural credit until then dealt with by the RBI and the Agricultural Refinance and Development Corporation moved under the control of NABARD. NABARD thus emerged as the apex institution to play a pivotal role in the sphere of policy planning and providing refinance facilities to rural financial institutions. NABARD has also been playing a catalytic role in micro-credit through the channel of Self-Help Groups (SHGs). In order to attain sustainable development in Bihar, the vicious circle of poverty should be overpowered by economic drivers. Although Bihar accounts for 8.6 percent of India’s population, its share in the poverty-stricker population in much higher at 13.3 percent. This landscape may get changed with the contribution being initiated and nurtured by the NABARD.