Question

Consider the following statements regarding National Bank for Agriculture and Rural Development (NABARD).

i. Its creation was recommended by the Sivaraman Committee 1979.

ii. It is a development bank created by law.

iii. It subsumed the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation.

iv. Set up with an initial capital of Rs. 100 crore and head office is at Mumbai.

• A. Only i
• B. Only i and ii
• C. Only iii
• D. All of them

Answer 1

Answer:

D. All of them

NABARD is a Development Bank with a mandate for providing and regulating credit for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas to promote prosperity of rural areas.