Aizawl: National Bank for Agriculture and Rural Development (NABARD) celebrated its 37th foundation day on Thursday here in Aizawl.
NABARD was established as apex level Development Finance Institution on 12 July, 1982 through an act of parliament. Its mission is to promote sustainable and equitable agriculture and rural development through its financial and non-financial intervention. The major instruments for achieving this mandate are financial support to banks for lending to agriculture and rural development purposes, and to state government for creation of rural infrastructures. Besides, keeping in view the need for inclusive development, NABARD has also seen supporting the banks through grant support for financial literacy, computerization and use of digital banking.
NABARD launched SHG concept in 1992 for purveying credit to “poor’ who were excluded from the mainstream banking. The SHG concept which started with 500 groups in 1992 has grown into mass movement and has touched the lives of 10 crores women. This has been possible due to partnership with NGOs, banks and SRLMs.
On the occasion of NABARD foundation day and in recognizing the success of the movement in the state, NABARD has been giving awards to good functioning SHGs since last year. This year Women SHG, Lawngtlai has been awarded first prize, Chawnpui SHG, Serchhip bagged second prize and Lalbiaka SHG, Champhai won third prize.