Bharat SainiLast Updated on January 20, 2017 by Bharat Saini
NABARD or the National Bank of Agriculture & Rural Development has been constituted for providing, effective support for Agricultural Credit and sustainable Rural Development, and Refinance to Commercial Banks.
A scheduled bank, in India, refers to a bank which is listed in the 2nd schedule of the Reserve Bank of India Act, 1934. Banks not under this Schedule are called non-scheduled banks. Scheduled banks are usually private, foreign and nationalised banks operating in India. However, cooperative banks are allowed to seek scheduled bank status if they satisfy certain criteria. A scheduled bank is eligible for loans from the Reserve Bank of India at bank rate. They are also given membership to clearing houses.
The Job and Responsibilities of Officers in the NABARD relate to development of Agricultural Activities in the Districts allocated to them. They are required to ensure effective implementation of various Government Schemes for Rural Development through effective Credit Support from the Banks. NABARD also formulates certain schemes for development of Agriculture & Horticulture in various Districts and formulation & implementation of these schemes is also part of the job profile of these Officers besides work related to refinance to Commercial Banks by NABARD. Officers of NABARD are responsible for furnishing in time all the information that may required by various Departments and also have to have effective coordination with various Bank Branches, Lead Bank, Chief Development Officer & the District Administration and are effective links between the various agencies & Departments of the State & the Central Governments and the Reserve Bank of India.
The Officers of Scheduled Commercial Banks deal directly with the Public and provide Customer Service that include receipt & payment of Cash, Opening of Accounts, issuance of Cheque Books, Debit & Credit Cards & ATM Services. Marketing of various products of the Banks that include Term Deposits and online Banking etc. and other General Banking Operations. Officers handling credit portfolio are required to conduct pre-sanction surveys, process, sanction & disburse Loans and have to have effective supervision & monitoring of the Loan Accounts ensuring that the Loans given are properly utilised and do not turn Non-Performing. Such Officers handle Recovery of Loans and Legal proceedings.
The difference in the Job & Responsibilities of Officers of the NABARD and the Scheduled Commercial Banks are that of NABARD Officer do no deal directly with the Public but coordinate with the Banks & the Administration, whereas, the Scheduled Commercial Banks officers deal directly with the Public by providing them Customer Service and by way of Marketing of Banks’ products.
