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Consider the following statements  1.NABARD was established in 1985. 2.NABARD was established as an apex body to coordinate the activities of all institutions involved in the rural financing system. Which of the statements given above is/are correct?

Consider the following statements  1.NABARD was established in 1985. 2.NABARD was established as an apex body to coordinate the activities of all institutions involved in the rural financing system. Which of the statements given above is/are correct? Correct Answer Only 2

The correct answer is Only 2.

  • NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC).
  • It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982. Hence statement 1 is incorrect.
  • The main objectives of NABARD are as follows:
    • NABARD is an apex body which provides refinance assistance for agriculture, promoting rural development activities. It also provides all necessary finance and assistance to small scale industries.
    • NABARD in coordination with the State Governments provides agriculture.
    • It improves small and minor irrigation by way of promoting agricultural activities.
    • It undertakes R&D in agriculture, rural industries.
    • NABARD promotes various organizations involved in agricultural production by contributing to their capital.

Hence statement 2 is correct.

Additional Information

  • In discharging its role as a facilitator for rural prosperity, NABARD is entrusted with:
    • Providing refinance to lending institutions in rural areas
    • Bringing about or promoting institutional development and
    • Evaluating, monitoring and inspecting the client banks

Related Questions

Consider the following statements about National Bank for Agriculture & Rural Development (NABARD). 1. NABARD Serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas. 2. It was established based on the recommendations of the Committee set up by the Reserve Bank of India (RBI) under the chairmanship of Narasimham. 3. International associates of NABARD include World Bank-affiliated organisations and global developmental agencies working in the field of agriculture and rural development. Which of the above statements is/are correct?
1. A Judicial Magistrate First Class can authorize the detention in custody, of a person accused of an offence triable by Special Court established under The Narcotic Drugs and Psychotropic Substances Act, 1985, for a period not exceeding fifteen years.
2. The Special Court established under The Narcotic Drugs and Psychotropic Substances Act, 1985, cannot exercise the power to authorize the detention of accused in custody, as enunciated under Section 167 of Code of Criminal Procedure.
3. The definition of 'use' under Section 2(xxviii-a) of The Narcotic Drugs and Psychotropic Substances Act, 1985, excludes personal consumption of narcotic drugs and psychotropic substances.
4. The High Court, by special order, may constitute as many Special Courts under The Narcotic Drugs and Psychotropic Substances Act, 1985, as necessary.
Which of the above statements are correct?
Which one of the following institution was set up in 1982 A.D. as an apex body to coordinate the activities of all institutions involved in the rural financial system?
Which organization among the following was set up in 1982 to coordinate the activities of all institutions involved in the rural financing system?
Which of the following activities should be shown separately in the cash flow statement prepared as per accounting standard-3?
I. Cash flow from borrowing activities.
II. Cash flow from operating activities.
III. Cash flow from financing activities.
IV. Cash flow from investing activities.
V. Cash flow from miscellaneous activities.
The following are the conditions for selecting list of a suitable candidates to be called for interview after the written test for the recruitment is conducted/organized for management - level persons for a multi - national company. For providing accounting services and sales the candidate must (a) be holding a graduation in basic science with 65% or above or B.E. degree with 55% and above marks (b) have passed the written test with 70% or above marks (c) the age must be in the group 25 to 30 years as on 1/4/18 (d) have experience in an accounting firms for three years and diploma in accounting with 60% or above marks (e)  be presently drawing CTC of 6 Lakhs per annum and above In case the applicant who satisfies all other terms above except 1) at (a) above, then be referred as Junior Accountant 2) at (d) & (e) above then be referred as Trainee - Accountant Satisfying all the above with experience of 5 years then the referred as senior-Accountant Satisfying all the above criteria (a - e) with CA/ICWA/MBA (Finance) then be referred as manager (Accounts) Read all the above information and answer the following question Praveen has done his Masters in physics. He has no experience in accounting neither diploma. He is ready to be on training for accounting after joining. For which position he may be referred
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Consider the following statements about the Scheduled Castes and the Scheduled Tribes under the provisions of the Constitution of India : 1. State can make any special provision relating to their admission to the Government educational institutions. 2. State can make any special provision relating to their admission to the private educational institutions aided by the State. 3. State can make any special provision relating to their admission to the private educational institutions not aided by the State. 4. State can make any special provision relating to their admission to the minority educational institutions as described in Article 30. Which of the statements given above are correct?