Q82. With reference to NABARD, consider the following statements.
1. It was established by an act of the Parliament.
2. It was established based on the recommendations of the Committee set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. shivaraman.
Which of the above statement(s) is/are correct?
Q82. With reference to NABARD, consider the following statements.
1. It was established by an act of the Parliament.
2. It was established based on the recommendations of the Committee set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. shivaraman.
Which of the above statement(s) is/are correct?
The correct option is C (c) Both 1 and 2
The National Bank for Agriculture and Rural Development (Amendment) Bill, 2017, was recently passed by voice vote in the Rajya Sabha. The bill was passed by the Lok Sabha in August, 2017.
It is an apex development and specialized bank established on 12 July 1982 by an act by the parliament of India. Its main focus is to uplift rural
India by increasing the credit flow for elevation of agriculture & rural non farm sector.
It was established based on the recommendations of the Committee set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. shivaraman. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC).
It has been accredited with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”.
(c) Both 1 and 2
The National Bank for Agriculture and Rural Development (Amendment) Bill, 2017, was recently passed by voice vote in the Rajya Sabha. The bill was passed by the Lok Sabha in August, 2017.
It is an apex development and specialized bank established on 12 July 1982 by an act by the parliament of India. Its main focus is to uplift rural
India by increasing the credit flow for elevation of agriculture & rural non farm sector.
It was established based on the recommendations of the Committee set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. shivaraman. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC).
It has been accredited with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”.
