Difference Between NABARD and RBI
|
NABARD |
RBI |
Full Form | National Bank for Agriculture and Rural Development | Reserve Bank of India |
Establishment | 1982 | 1935 |
Function |
|
|
Ownership | Fully owned by the Government of India | Owned by the Government of India but functions as an independent body |
Headquarters | Mumbai, Maharashtra | Mumbai, Maharashtra |
Main Objective | To promote rural development through credit and developmental activities | Regulating and controlling the country’s monetary policy and ensuring financial stability |
Issue of Currency | No | Yes |
Difference Between NABARD and RBI
The Reserve Bank of India and the National Bank for Agriculture and Rural Development are the most important financial institutions in India. Both organizations play a critical role in the economic development of India. But their primary objectives, functions, and roles are different. RBI and NABARD both of them play an essential role in the banking system of India despite their different purposes. RBI ensures the financial system’s stability and oversees the country’s overall monetary policy On the other hand, NABARD focuses on providing banking support to the rural sector and promoting rural development.