What are the major functions and schemes run by NABARD to support farmers and rural infrastructure?
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The National Bank for Agriculture and Rural Development (NABARD) plays a pivotal role in supporting farmers and strengthening rural infrastructure in India. Its major functions include providing refinance to financial institutions for agricultural and rural development activities, developing and supervising rural credit institutions, and promoting sustainable and equitable agriculture through policy planning and coordination. NABARD runs several schemes to support farmers and rural infrastructure. Notable among them is the Rural Infrastructure Development Fund (RIDF), which finances infrastructure projects like irrigation, rural roads, and bridges. It also supports the Watershed Development Programme and Tribal Development Programme aimed at enhancing livelihoods through natural resource management. NABARD promotes financial inclusion through the Self Help Group-Bank Linkage Programme (SHG-BLP) and also fosters innovation and technology adoption in farming via schemes like the Agriculture Infrastructure Fund (AIF) and Producers Organization Development Fund (PODF). Through these interventions, NABARD facilitates credit flow, boosts agricultural productivity, and improves the socio-economic conditions of rural communities.
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