A report from the committee, under the chairmanship of Sh. B. Sivaraman, emphasized on the need of a separate organization for looking into the issues related to rural development. National Bank for Agriculture and Rural Development (NABARD) was established as a statutory body under the NABARD Act, 1981 passed by the parliament and came into existence on 12th July 1982 by transferring of the agricultural credit functions of the Reserve Bank of India (RBI).
NABARD supervises the Cooperative Banks and Regional Rural Banks (RRBs) to develop sound banking practices, with an aim to build an empowered and financially inclusive rural India.
NABARD is wholly owned by the Government of India, with a total authorized capital of INR 30,000 crore, and paid up capital at INR 12,580 crore as on 31st March, 2019. It operates with a Head Office at Mumbai and 31 Regional Offices, spread all over India.
Sh. Dinesh Kumar Kapila
On 1st July, Sh. D.K. Kapila got charge of Chief General Manager at Himachal Pradesh Regional Office, Shimla. He is a dynamic professional with great experience in rural credit markets, promotional/developmental projects, administration, human resource management, policy planning and execution.
He started his career in NABARD as District Development Manager in Punjab. From 2009 to 2013 he headed the credit planning and promotional sector activities at HP regional office as Assistant General Manager.
He got posted to Srinagar as Deputy General Manager, to oversee the developmental works of 11 districts. Main work included credit administration, developmental projects and financial inclusion.
His expertise includes:
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Framing policies for rural financial institutions
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Guiding rural cooperative banks
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Monitoring ground level flow of rural credit
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Initiatives for development of rural farm and non-farm sectors
Due to pandemic situation and resulting lockdown, the rural people of the state are facing various problems. With, appointment of Mr. Kapila as the CGM, the rural people of the state can expect some good results. His expertise in the rural development planning and execution will surely benefit the people, and will support government’s initiatives of rural development.
