NABARD Current Affairs - 2019
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The Reserve Bank of India (RBI) has sold its entire stakes in the National Bank for Agriculture & Rural Development (NABARD) and National Housing Bank (NHB) for Rs 20 crore and Rs 1,450 crore respectively.
Disinvestment by RBI
- The decision to divest its entire stake was taken based on the recommendations of the second Narasimham Committee. The committee had stated that RBI could not own those entities which are regulated by it.
- The government now holds a 100 per cent stake in both NHB and NABARD.
Earlier in June 2018, the government had bought out the entire 59.7 per cent stake in SBI from the Reserve Bank.
The Ministry of External Affairs has signed an MoU with National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) for setting up India-Africa Institute of Agriculture and Rural Development (IAIARD) in Malawi.
India-Africa Institute of Agriculture and Rural Development
- IAIARD would be a Pan-African Institute wherein trainees not only from Malawi but also from other African countries, will receive training to develop their human resources and build their capacity.
- IAIARD will impart training in the areas of micro-financing and agro-financing, among others.
- The expenditure on faculty from India, the travel, logistics and training course expenses for students from other African countries will be borne by the Government of India for an initial period of three years.
IAIARD is the first of its kind initiative undertaken in an African country by India. IAIARD will further strengthen the bilateral relations with Malawi and India’s relations with the African Union.
NABARD Consultancy Services
NABARD Consultancy Services (Nabcons) is a fully owned subsidiary promoted by National Bank for Agriculture and Rural Development (NABARD). Nabcons is engaged in providing consultancy in all spheres of agriculture, rural development and allied areas.
Nabcons leverages on the core competence of the NABARD in the areas of agricultural and rural development, especially multidisciplinary projects, banking, institutional development, infrastructure, training, etc., internalized for more than two decades.
Tags: Africa • African Union • IAIARD • India-Africa Institute of Agriculture and Rural Development • Malawi • Ministry of External Affairs • NABARD • NABCONS • National Bank for Agriculture and Rural Development • National Bank for Agriculture and Rural Development Consultancy Service