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Which is the apex banking institution for providing finance for agriculture and rural development in India?

Which is the apex banking institution for providing finance for agriculture and rural development in India? Correct Answer NABARD

The correct answer is NABARD.

  • NABARD is a development bank responsible for the rural sector of the country. It is the apex banking institution to provide Finance for Agriculture and Rural development.
  • Its headquarter is located in Mumbai.

Important Points

RBI
  • RBI is the central banking institution, which controls the monetary policy of the Indian rupee, fully owned by the Government of India.
  • It was established on 1st April 1935 in Kolkata but nationalized on 1st January 1949.
  • RBI consists of governors, 4 Deputy Governors, 2 Finance Ministry representatives.
  • The First Governor of RBI was Sir Osborne Smith (1935 – 1937).
  • The First Indian Governor of RBI was CD Deshmukh (1943 – 1949).
  • The only Prime Minister who was the Governor of RBI was Manmohan Singh (1982 – 1985).
  • The present Governor is Shaktikanta Das.
SEBI
  • The Securities and Exchange Board of India (SEBI), was initially constituted on April 12, 1992.
  • SEBI is the regulatory body for dealing with all matters related to the development and regulation of the securities market in India.
  • SEBI is situated in Mumbai with its regional offices at Kolkata, Delhi, and Chennai.
  • SEBI’s primary functions include protecting investor interests, promoting and regulating the Indian securities markets.
IBRD
  • International Bank for Reconstruction and Development raises most of its funds in the world's financial markets.
  • Headquarters: Washington, D.C., United States.
  • Its purposes include assisting the development of its member nation’s territories, promoting and supplementing private foreign investment, and promoting long-range balanced growth in international trade.

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?
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments and which is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: A shortage of bank branches and ATMs across India’s hinterland is holding back Prime Minister Narendra Modi’s financial inclusion efforts and risks angering rural voters ahead of elections next year. After taking office in 2014, Modi set an ambitious target to open a bank account for every household to ensure welfare funds flow directly to India’s poor, while improving access to credit and insurance programs. He pushed policies that helped bring 310 million people into the formal banking system in just four years, according to the World Bank. Based on the arguments stated below and he information stated above, which of the following arguments state the reason for the problem, ‘But many of India’s villages still lack bank branches or ATMs to help service new customers, while the pace of building new financial infrastructure has actually slowed’.  Arguments: I. Because Modi’s government effectively forced poor citizens into the banking system by linking some welfare benefits to bank accounts, villagers have ended up stuck in long queues and struggling with ATMs that often run out of cash or break down.  II. With an election due next year, the mismatch between the government’s policies and the rural banking system is generating frustration among a key slice of India’s electorate. III. The banking system struggled to keep up, while some gains proved temporary. Nearly half of Indian bank accounts were inactive in 2017, meaning they weren’t used at all in the previous 12 months
The question given below consists of a statement, followed by three arguments I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: India's burgeoning shadow finance sector is likely to face a shake-up after defaults at one major lender battered the nation's financial markets in the past week and reinforced worries about credit risk. Industry officials and experts say they expect Indian regulators to cancel the licences of as many as 1,500 smaller non-banking finance companies because they don't have adequate capital, and to also make it more difficult for new applicants to get approval. Which of the following argument(s) stated support(s) the given fact? Arguments: I. Better capitalised and more conservatively run finance firms are likely to swallow up an increasing number of smaller rivals. That could make it difficult for many small borrowers to get loans, especially in the countryside where two-thirds of India's 1.3 billion people live and put the brakes on a surge in private consumption with a knock-on effect on growth.  II. The shadow banking sector now comprises more than 11,400 firms with a combined balance-sheet worth 22.1 trillion rupees ($304 billion) and is less strictly regulated than banks. It has been attracting new investors, particularly as the nation's banks have had to slow their lending as they seek to work through $150 billion of stressed assets.  III. Nearly 11,000 of India's NBFCs are small and medium-sized businesses with an asset base of less than 5 billion rupees. But the top 400, many of which are backed by banks and finance companies, control about 90 percent of the assets under management.
Which of the statement on Islamic banking is incorrect? (A) Islamic banking is only for Muslims.(B) Islamic banking activity do not allow paying and receiving of interest. (C) Islamic banking promotes the principle of profit sharing between banking institution and depositor.
How does shadow banking differ from commercial banking?
1. While commercial banks are tightly regulated, shadow banking is not well regulated.
2. Shadow banking cannot create money.
3. While liabilities of commercial banks are insured, shadow banking liabilities are not insured.
4. While commercial banks access to central bank liquidity in the times of distress, shadow banking does not have such resource.
Select the correct answer:
Which among the following is correct regarding male-female inter and intra-state migration in India as per Census-2011 data? 1. In intra-state migration, male outnumbers female in rural to urban migration 2. In inter-state migration, male outnumbers female in rural to urban migration 3. In intra-state migration, female outnumbers male in rural to rural migration 4. In inter-state migration, male outnumbers female in rural to rural migration
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India has signed MoU with National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) in April 2019 to set up the India - Africa Institute of Agriculture and Rural Development (IAIARD) in which country?
Which of the following statements is/are correct about the Finance Commission of India? 1. The eligibility of members of the Finance Commission is determined by the President. 2. The First Finance Commission was constituted in 1951. 3. The President of India constitutes the Finance Commission every 5 years. 4. Chairman of Finance Commission submits his report to the Parliament of India.
Defining green banking is relatively easy. It means promoting environment -friendly practices and reducing your carbon footprint from your banking activities. This comes in many forms : using online banking instead of branch banking; paying bills online, opening up CDs (certificates of deposit) and money market accounts at online banks instead of large multi-branch banks. A green bank takes the biggest steps to support local green initiatives. Any combination of the above personal banking practices can help the environment. In this respect, online banks and smaller community banks have better track records than larger banks .However, these larger banks may be induced to go green . According to the passage, larger, multi -branch banks .