The National Bank for Agriculture and Rural Development (Nabard) on Friday signed a memorandum of understanding with the premier business school, Xavier Institute of Management, Bhubaneswar (XIM-B) for setting up a Nabard chair unit at the management institute under the Nabard Chair Professor scheme.
The pact was signed between Father Paul Fernandes, director, XIM-B and MV Ashok, chief general manager of Nabard. The objective of the chair unit will encourage research in emerging areas such as climate change, rural livelihood, financial inclusion, value chain management, agriculture marketing and financial product development.
With the signing of the pact, XIM-B has joined the league of premier institutions that have tied up with the bank. Nabard has already signed similar pacts with Indian Institute of Management, Ahmadabad and Institute of Rural Management, Anand (IRMA).
"In the next 3-5 years, the Nabard chair unit at XIM-B, shall undertake research and action research on replication of sustainable producer organization, sustainable agriculture, social wealth creation and sustainable governance to provide greater understanding on issues of implementation and policy guidance in agriculture and holistic rural development", read a statement.
Amar KJR Nayak, professor of strategic management, has been selected as the Chair professor who will lead the research activities and policy advice of agriculture and rural development.
"Nabard will support the expenditure on one professor in the institute. who will work on common areas of interest", said Ashok.
The bank will provide about Rs 30 lakh per year to the institute to run the unit for three years, which is extendable up to five years on the basis of the performance.
Nabard is in the process to sign similar pacts with Mysore University and Gandhigram Rural Institute in Tamil Nadu. Earlier XIM-B had entered into such an arrangement with the bank which ended in 2014.
"The Xavier University will start MBA in sustainability management this year. The focus areas will be on human development, natural resources management, sustainable energy, climate change, sustainable leadership. We hope to take in 30 to 40 students in this academic year," said Fernandes, who is also the vice-chancellor of Xavier University, Bhubaneswar.
