NAABARD came into existence in the year _________.
1982
NABARD: Understanding its Establishment Year
The question asks about the year in which NABARD came into existence. NABARD stands for the National Bank for Agriculture and Rural Development.
NABARD is a development bank focused on the rural sector of India. It is the apex regulatory body for the overall regulation of regional rural banks and cooperative banks in India.
The formation of NABARD was based on the recommendations of the Committee to Review the Arrangements for Institutional Credit for Agriculture and Rural Development (CRAFICARD), which was set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. Sivaraman.
Based on the recommendations of this committee, NABARD was established.
Here is a summary of its formation:
- Committee: CRAFICARD (Committee to Review the Arrangements for Institutional Credit for Agriculture and Rural Development)
- Chairman: Shri B. Sivaraman
- Act: National Bank for Agriculture and Rural Development Act, 1981
- Date of Establishment: July 12, 1982
Therefore, NABARD came into existence in the year 1982.
Let's look at the options provided:
| Option | Year |
|---|---|
| 1 | 1979 |
| 2 | 1982 |
| 3 | 1969 |
| 4 | 1972 |
Comparing the establishment year (1982) with the given options, we find that option 2 matches the correct year.
NABARD plays a crucial role in planning, promoting, and financing agriculture and rural development programs.
Important Questions from RRBs & NABARD
NABARD launched a special pilot project in 2004 - 05 called _______ mainly to fulfil the credit needs of the small and marginal farmers and tenant farmers.
Which institution had launched the project E-Shakti for the digitization of all members of self-help groups in India?
Where is the headquarters of National Bank for Agriculture and Rural Development of India (NABARD) located?
______ 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.
Which institution launched the Self-Help Group - Bank Linkage Programme in 1992-93?
