The correct answer is Rural development. Important Points"NABARD" means 'National Bank for Agriculture and Rural Development'. It is not a wholly own subsidiary of RBI now because RBI sold 99% of its stake to GOI. Its headquarter is in Mumbai, India. The Chairman of NABARD is Dr. Harsh Kumar Bhanwala. NABARD was founded on 12 July 1982. The main role of NABARD is to provide and manage credit flow for the development of the rural area. National Bank for Agriculture and Rural Development (NABARD) was approved by the Parliament through Act 61 of 1981. It is the development Bank of the Nation for Fostering Rural Prosperity. It promotes sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology and institutional development for securing prosperity.