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NABARD Launches NIVARAN initiative, RuralTech CoLab & WhatsApp Channel on 44th Foundation Day in Chennai.

Economy Business | Dated: 18 Jul 2025

On July 12, 2025, the National Bank for Agriculture and Rural Development (NABARD) celebrated its 44th Foundation Day at the ITC Grand Chola, Chennai, Tamil Nadu, by launching transformative initiatives including NIVARAN, RuralTech CoLab, a new WhatsApp channel, and a Sub-Office in Leh. These initiatives reflect NABARD’s ongoing commitment to fostering rural innovation, institutional governance, and inclusive development.

🎯 Key Highlights:

- During the Foundation Day ceremony, NABARD introduced RuralTech CoLab, an open innovation digital platform to empower startups, academic institutions, and rural-tech developers. This platform enables collaborative co-creation, testing, and scaling of rural-centric technologies. It aims to drive grassroots innovation and rural modernization through technology-based entrepreneurship and R&D convergence.
- NABARD also launched NIVARAN, a centralized Internal Grievance Redressal System specifically for Rural Co-operative Banks. The system ensures 24x7 digital access for lodging complaints, tracking resolution status, and facilitating improved governance. The platform was developed to strengthen accountability and transparency in rural banking services, especially for cooperative structures with widespread reach.
- To increase its physical outreach in underserved areas, NABARD inaugurated a new Sub-Office in Leh, Ladakh (Union Territory). This strategic move aligns with the bank’s vision to improve access to formal credit, capacity-building, and rural finance in remote Himalayan regions. The Leh sub-office will serve as a hub for developmental finance, sectoral outreach, and training in high-altitude rural economies.

💡 Other Important Facts:

(i) The event also marked the launch of the official NABARD WhatsApp Channel, offering real-time access to market advisories, financial product updates, government schemes, and Price Forecasting Information (PFI) for farmers and stakeholders.
(ii) This digital initiative ensures last-mile connectivity and enhances NABARD’s information delivery to grassroots beneficiaries and agri-entrepreneurs.
(iii) NABARD’s 44th Foundation Day emphasized its commitment to sustainable rural transformation through policy innovation, grievance redressal systems, and tech-driven partnerships. With initiatives like NIVARAN and RuralTech CoLab, the bank reinforced its leadership in institutional capacity-building, digital rural finance, and inclusive infrastructure in collaboration with startups, state cooperatives, and development organizations.

📚 Test Your Knowledge:

Recently, which institution launched the 'RuralTech CoLab' platform to support rural-centric tech innovations?

Correct Answer: NABARD

🚀 Quick Recap:

About National Bank for Agriculture and Rural Development (NABARD)

Chairman : Shaji K.V.
Headquarter : Mumbai