Question
Download Solution PDFNABARD is an apex finance institution set up by the Indian Government in 1982. What does 'R' in NABARD stand for?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Rural.Key Points
- NABARD stands for National Bank for Agriculture and Rural Development.
- It was set up by the Government of India in 1982 with the mandate of promoting sustainable and equitable agriculture and rural development.
Additional Information
- Regulatory is partially correct as NABARD also regulates and supervises the functions of cooperative banks and regional rural banks.
- However, it is not the primary function of NABARD.
- NABARD provides various financial and non-financial services to agriculture and rural sectors, such as credit support, development assistance, capacity building, research and development, and market interventions.
- It also acts as a refinancing institution for banks and other financial institutions involved in agriculture and rural development, and mobilizes resources from domestic and international sources for rural development programs.
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