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THIRUVANANTHAPURAM: The Kerala Regional Office of the National Bank for Agriculture and Rural Development (Nabard) celebrated the 24th Foundation Day on Tuesday. Mr B.S. Shekhawat, Chief General Manager, delivered the inaugural address at a function held on the occasion.

Mr Shekhawat said that Nabard's micro finance programme launched in 1992 had become world's largest programme of its kind and now covered over 225 lakh families. Its other major initiative was the decentralised credit planning and coordination of development activities through District Development Manager Offices in 450 districts of the country.

But serious challenges lay ahead, especially in the context of agriculture growth having decelerated after the mid-1990s. Its other major concerns were financing the entire supply chain in agriculture, evolving financial products for the commodities market, financing agro processing projects, preparing Indian farmers for the post-WTO scenario, improving supervisory systems and developing a dedicated mechanism for micro finance.

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