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Question

Which of the following does not correctly describe NABARD?

A

It is an apex development bank

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B

Its headquarters is based in New Delhi

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C

It was established in 1982 by a special act by the parliament

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D

It is active in developing financial inclusion policy

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E

It is responsible for credit flow for elevation of agriculture & rural non farm sector

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Solution

The correct option is B Its headquarters is based in New Delhi
National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having headquarters based in Mumbai and other branches all over the country. It was established on 12 July 1982 by a special act by the parliament and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture and rural non farm sector.

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Similar questions

Q. Q7. Consider the following statements.
1. National Bank for Agriculture and Rural Development (NABARD) was formed to promote sustainable and equitable agriculture and rural development.
2. It has financial, developmental and supervisory roles.
3. Rural Infrastructure Development Fund (RIDF) created under NABARD can be utilized for agriculture and social sector.
Which of the above statement/s is/are incorrect?

Q. Which of the following is/are the recommendations of the Committee on Financial Inclusion chaired by Dr C Rangarajan?
A. Launching of a National Rural Financial Inclusion Plan (NRFIP) in mission mode
B. Creation of two funds with NABARD-Financial Inclusion Promotion and Development Fund (FIPF) and Financial Inclusion Technology Fund (FITF)
C. Shifting of the rural branches of all nationalised banks under the direct control of NABARD as only NABARD has the expertise in disbursement of rural credit.

Q. Which of the following is the apex institution that handles refinance for agriculture and rural development in India?

Q. The Sarpanch of a village has made several policies for the developement of agricultural activites in the village. However, the village is still not developed in non-agricultural activities.

Suggest the steps that the Sarpanch should take for non-agricultural development.

Q. Write a word or phrase or term which can substitute each one of the following statements.

An apex development bank which facilitates credit flow in rural area.

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