Cooperation Minister Amit Shah on Wednesday asked NABARD to fix targets to finance the agriculture sector and rural development for the next 25 years when India will complete 100 years of Independence. He said NABARD is the spine of rural India.
Mr. Shah was addressing the 42nd Foundation Day of the National Bank for Agriculture and Rural Development (NABARD) on Wednesday. He said all employees of the organisation should be involved in fixing targets.
“NABARD has played a big role in helping self-help groups stand on their own feet. This in turn enabled every person in the village especially mothers and sisters to become self-reliant and establish themselves in society with respect,” he said.
He stated that NABARD has provided refinancing of ₹20 lakh crore in the rural economy growing at a rate of 14% over the last 42 years. Development of the rural economy cannot be imagined without this financing.
“NABARD has financed about 1 crore self-help groups in the country, in a way this is the biggest programme of micro-financing in the world. Modi government has set a target to cover almost all farmers under the Kisan Credit Card with the PM Kisan Yojana,” he said.
He also underlined the need for cooperation among cooperative organisations to promote rural development.
Mr. Shah said that a nation which has 65% of its people living in rural areas cannot prosper without a financial institution like NABARD.
