NABARD celebrates 44th Foundation Day with visionary initiatives for rural transformation

THEBUSINESSBYTES BUREAU

MUMBAI, JULY 12, 2025

The National Bank for Agriculture and Rural Development (NABARD) on Saturday commemorated its 44th Foundation Day with a landmark celebration in Chennai, reaffirming its vital role in shaping India’s rural transformation. The event showcased NABARD’s enduring legacy, while also launching bold, forward-looking initiatives aimed at deepening its development impact across the country.

The commemorative event was graced by distinguished dignitaries including M. Nagaraju, Secretary, Department of Financial Services, Government of India; N. Muruganandam, Chief Secretary, Government of Tamil Nadu; Shaji K.V., Chairman, NABARD; along with G.S. Rawat and A.K. Sood, Deputy Managing Directors of NABARD. Senior leaders from Indian Bank and Indian Overseas Bank, along with key government and banking officials, also participated in the celebration.

A panel discussion on “Fostering Rural Enterprises for Inclusive Growth” anchored the event, spotlighting how entrepreneurship in rural India can become a catalyst for job creation, innovation, and equitable economic growth. The evening also featured an exhibition celebrating the spirit of rural India through traditional crafts, agricultural products, and grassroots innovations.

In his keynote address, Shaji K.V., Chairman, NABARD, reflected on the institution’s journey and future goals, stating that NABARD’s legacy over 44 years is rooted in enabling access to finance, infrastructure, and innovation, and that the bank is now focused on scaling high-impact solutions, promoting rural entrepreneurship, and ensuring sustainability remains central to rural development.

Nagaraju, Secretary, DFS, praised NABARD’s contribution to the government’s rural vision, acknowledging the institution’s strategic importance in the face of climate change and digital transformation. He emphasized that NABARD’s continued leadership in empowering rural livelihoods and institutions is crucial for building a future-ready rural economy.

Muruganandam, Chief Secretary of Tamil Nadu, commended NABARD for its role in uplifting rural communities across the state. He noted that the bank’s initiatives — ranging from SHG empowerment to infrastructure support — have significantly strengthened the state’s rural development framework.

The event witnessed the launch of several impactful initiatives aimed at expanding NABARD’s reach and deepening its developmental footprint. These include the inauguration of NABARD’s Sub-office in Leh, Ladakh, which signifies the bank’s commitment to serving India’s most remote regions with financial inclusion, capacity building, and development finance. The launch of NABARD’s official WhatsApp Channel aims to provide real-time advisories, FPO updates, and product information directly to rural stakeholders, enhancing communication and outreach. A new Radio Jingle for Financial Inclusion was also unveiled, targeting rural and semi-urban audiences through All India Radio and community stations, spreading awareness about savings, credit, and insurance in a relatable format. Another milestone was the introduction of the Graduated Rural Income Generation Programme (GRIP), a livelihood support model that uses returnable grants and training to help ultra-poor rural households integrate into formal economic activity. NABARD also launched the RuralTech CoLab Portal, a digital collaboration platform inviting startups, researchers, and developers to co-create, pilot, and scale technologies designed for rural needs. Additionally, “NIVARAN,” a dedicated grievance redressal system for Rural Cooperative Banks, was rolled out to provide 24×7 digital access for complaint resolution and governance enhancement.

The evening also saw the premiere of “Green Roots: NABARD’s Journey Towards Climate Resilience”, a documentary chronicling NABARD’s long-standing contributions to sustainable agriculture, environmental protection, and climate resilience.

Three significant publications were released during the event. “RIDF@30: A Journey of Rural Transformation” commemorates three decades of the Rural Infrastructure Development Fund’s impact on connectivity, health, education, and irrigation. The “Grameen Bharat Mahotsav” Coffee Table Book captures the vibrant celebration of rural innovation and culture held at Bharat Mandapam in January 2025. “Beyond Numbers 2025” presents an insightful impact narrative of NABARD’s work across financial, institutional, digital, and climate spheres.

Established on July 12, 1982, NABARD continues to serve as India’s apex development financial institution dedicated to rural prosperity. Headquartered in Mumbai, its mission encompasses sustainable agriculture, inclusive finance, and rural empowerment through credit, capacity building, and innovation.

NABARD’s 44th Foundation Day celebration was not just a tribute to the institution’s past accomplishments but a powerful reaffirmation of its future-ready vision. With a strong focus on digital transformation, grassroots innovation, and inclusive growth, NABARD is poised to continue leading India’s journey toward a resilient and prosperous rural economy.