NABARD and Microfinance

This has reference to the article of P Satish ‘Misplaced Critique of Microfinance Regulation Bill’ (January 19, 2008).

I invite your kind attention to the preamble of NABARD Act 1981 which reads: “An act to establish a development bank to be known as NABARD for providing and regulating credit and other facilities for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto”.