Question
Which of the following is the apex institution which
handles refinance for agriculture and rural development in India?Solution
NABARD was established with an initial capital of 100 cr., on 12 July 1982 by a special Act of Parliament 1981, by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). NABARD is an apex Development Bank authorized for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promote integrated rural development and prosperity and for matters connected therewith.
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