NABARD is a short form for National Bank for Agriculture and Rural Development. The bank is owned and operated by the Union Government and works under the administrative control of the Ministry of Finance. Its core purpose is to provide financial services to the agriculture sector of India. It is a Scheduled Commercial Bank under the Payment and Settlement Systems(Regulation) Act, 2007. The bank was established on 12 July 1982.
The NABARD exam consists of three phases – prelims, mains, and interview. The exam carries 200 marks and is divided into eight sections. The main exam consists of a synthesis of Agriculture and Rural Development, Eco & Social Issues, and Descriptive type papers. A candidate should prepare for the prelims and mains examinations. The final examination is held for those who have cleared the prelims and interview.
NABARD stands for National Bank for Agriculture and Rural Development. Although it is an acronym, there are other meanings of NABARD. The short form of the bank’s name reflects its role in the agricultural industry and in rural development. The bank focuses on rural development and is therefore responsible for boosting the agricultural sector in developing nations. The bank supports rural development by reducing the amount of poverty in a developing country. The NABARD acronym is often used to denote a variety of programs, including disaster relief.
In the prelims, candidates should be familiar with the NABARD syllabus to prepare for the test. They should study the concepts and essential topics to pass the test. The syllabus of the prelims exam comprises topics like English Language, Reasoning Ability, General Awareness, and Computer Knowledge. The syllabus for the mains exam includes online objective and descriptive tests. A candidate should also study and practice a variety of practice questions to ensure they have mastered them.
NABARD also supports R&D by State Universities and National/Regional Research Institutes. It also provides advisory services under government sponsored schemes. In addition to the advisory functions, NABARD has built internal capacity in related disciplines. However, the short form of NABARD might seem confusing. To simplify matters, NABARD’s acronym stands for National Bank for Agriculture and Rural Development. You’ll have to be familiar with NABARD before looking for a loan.