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Standard XII
Economics
Money Supply
Which agency ...
Question

Which agency manages the Micro Finance Development and Equity Fund in India?


A

SEBI

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B

NABARD

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C

RBI

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D

Ministry of Finance

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E

SIDBI

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Solution

The correct option is B

NABARD


In the Union budget of 2000-01, creation of Micro Finance Development Fund (MFDF) came into existence. The objective of the MFDF is to facilitate and support the orderly growth of the microfinance sector through diverse modalities for enlarging the flow of financial services to the poor, particularly for women and vulnerable sections of the society consistent with sustainability. Consequently MFDF with a corpus of Rs. 200 crore was established in NABARD.


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