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Consider the following statements: (a) NABARD offers loans for agricultural sector development. (b) NABARD provides loans to rural business. (c) NABARD makes financial loans for the urban industries. (d) NABARD provides financial support for urban development Which of the above statements are correct?

Consider the following statements: (a) NABARD offers loans for agricultural sector development. (b) NABARD provides loans to rural business. (c) NABARD makes financial loans for the urban industries. (d) NABARD provides financial support for urban development Which of the above statements are correct? Correct Answer (a) and (b)

Solution

The correct answer is Only (a) and (b)

Key Points

  • National Bank for Agriculture and rural development (NABARD) was established on 12 July 1982 by an Act of the parliament.
  • It Promotes sustainable and equitable agriculture and rural development through participative financial and non-financial interventions, innovations, technology, and institutional development for securing prosperity.
  • The Promotional and developmental initiatives in the areas of the farm, off-farm, microfinance, financial inclusion, and Convergence with Govt sponsored Programmes .
  • It Supports the financial inclusion efforts of Regional Rural Banks and Cooperative Banks.
  • They promote livelihood opportunities and Micro Enterprises.
  • They Support research and development, rural innovations, etc.

Related Questions

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