Shah asks NABARD to fix financing targets for rural sector for next 25 yrs

Cooperation Minister Amit Shah on Wednesday asked NABARD to fix targets for financing agriculture sector and rural development for the next 25 years when India will complete 100 years of Independence.

Addressing the 42nd Foundation Day of National Bank for Agriculture and Rural Development (NABARD), the minister said all employees of the organisation should be involved in fixing targets.

Shah said NABARD, which is engaged in finance and refinance development activities in rural India, should fix its targets keeping in view its past performance and future requirements.

He also underlined the need for cooperation among cooperative organisations to promote rural development.

Shah said that a nation with 65 per cent rural population cannot prosper without NABARD.

"A stage has come today that we cannot imagine rural economy without NABARD," he said, highlighting the achievements of the organisation which played a key role in financing agriculture development and rural infrastructure.

The minister also lauded the work being done by NABARD in promotion of self help groups (SHGs) and supporting villages to become self reliant.

NABARD came into existence on July 12, 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC).