Bakshi takes charge as Nabard chairman

Dr Prakash Bakshi has assumed charge as chairman of the National Bank for Agriculture and Rural Development (NABARD).

A PhD in Economics, Dr Bakshi started his career as a lecturer at Ravishankar University, Raipur before joining the Reserve Bank of India in 1979. Dr Bakshi was executive director of NABARD and has been in charge of various departments such as Cooperative Revival and Reforms, Institutional Development, Farm Sector, Non-Farm Sector, micro Credit Innovations and Financial Inclusion initiatives, said a press release.

One of the major responsibilities of Dr Bakshi has been in designing the Organisational and Business Restructuring of NABARD and spearheading initiatives in Cooperative portfolios, Core Banking Solutions for Cooperative Banks, rural infrastructure and direct financing. He has also headed the Kerala and Tamil Nadu Regional Offices of NABARD. Dr Bakshi was member of the Team that designed and replicated the ‘Self Help Groups (SHGs) – Bank Linkage Programme’ which is today the largest and fastest growing microFinance Programme of the World. He was also associated with the Committee on Cooperative Credit Structuring set up by the Centre. under Prof. Vaidyanathan and has negotiated with the GoI, ADB, World Bank and KfW for funding the legal and institutional reforms for rural cooperatives, the release said.