Role of NABARD: As an Institution for Financial and Social Welfare

  • Dr. Ashok Kumar

Abstract

The informal rural credit system has always been a severe form of exploitation for the rural masses. The issue of moneylenders exploiting poor farmers with exorbitantly high rates of interest has been the foremost reason behind the never-ending debt-traps that many small farmers find impossible to escape from. In addition to this, the rural population has always been subjected to low economic development and insufficient agricultural credit availability. With around 70% of the Indian population living in rural areas, it becomes utmost important to have a rural institutional financing system that efficiently caters to developmental and credit needs of people and thus help to build effective policy framework for economic development and growth.

Published
2019-12-31
Section
Articles