ARDC Full Form - Agriculture Refinance and Development Corporation

Agriculture Refinance and Development Corporation: Role, Functions, and Impact

The Agriculture Refinance and Development Corporation (ARDC) was established to enhance rural credit availability and support agricultural development in India. It played a vital role in financing agricultural and rural infrastructure projects before merging with NABARD in 1982.

Objectives of ARDC

• Provide refinance support for agricultural and rural projects.
• Develop rural infrastructure like irrigation and farm mechanization.
• Strengthen rural credit institutions such as cooperative banks.
• Enhance agricultural productivity with modern farming techniques.
• Reduce dependence on informal lending through institutional credit.

Key Functions of ARDC

• Refinance agricultural loans for land development and mechanization.
• Finance large-scale projects like irrigation and rural electrification.
• Strengthen cooperative and rural banks to expand credit access.
• Encourage technology adoption in farming, including irrigation systems.

Impact of ARDC on Indian Agriculture

• Increased agricultural credit flow to millions of farmers.
• Expanded irrigation facilities, reducing monsoon dependency.
• Boosted rural industrialization through agribusiness growth.
• Strengthened rural financial institutions for stability.
• Reduced reliance on exploitative moneylenders.

Evolution into NABARD

• Provide refinance support for rural development projects.
• Strengthen cooperative banks and regional rural banks.
• Implement rural infrastructure development programs.

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