Full formBanking & Finance
ARDstands forAgricultural Refinance and Development Corporation
Full Form of ARD
What is ARD?
The Agricultural Refinance and Development Corporation (ARD) was a specialized financial institution established by the Government of India in 1963 to provide refinance facilities for agricultural and rural development projects. Its primary role was to channel funds from the Reserve Bank of India and other sources to state-level cooperative banks, land development banks, and regional rural banks, thereby boosting credit flow to the agriculture sector. The ARD played a crucial part in implementing the government's rural development and farm modernization schemes during the Green Revolution era. In 1982, the corporation was merged with the newly formed National Bank for Agriculture and Rural Development (NABARD), which took over its functions and expanded them. Today, the ARD is primarily of historical and exam relevance, often appearing in banking and agriculture entrance exams as a precursor to NABARD. Its impact remains visible in the institutional framework of rural credit in India, and students preparing for competitive exams like IBPS, RBI, and NABARD are expected to know its role and evolution.
ARD का फुल फॉर्म
कृषि पुनर्वित्त एवं विकास निगम
Example
The ARD was instrumental in refinancing cooperative banks during the 1970s, helping them lend to small farmers for buying tractors and seeds.
ARD — frequently asked questions
What is the full form of ARD?
The full form of ARD is Agricultural Refinance and Development Corporation, a former Indian financial institution that provided refinance for agriculture and rural development.
Is ARD and NABARD the same?
No, ARD was the predecessor of NABARD. In 1982, ARD was merged into NABARD, which expanded its functions to supervise and regulate rural banking institutions.
Why is ARD important for banking exams?
ARD is important for banking exams because questions about its establishment year, role in rural credit, and merger with NABARD frequently appear in the general awareness section of exams like IBPS, RBI, and NABARD.