Understanding NABARD and the 'R' in its Name

The question asks about the full form of 'R' in the acronym NABARD, which is an important apex finance institution in India.

NABARD stands for the National Bank for Agriculture and Rural Development.

Let's break down the acronym:

• N - National
• B - Bank
• A - for Agriculture
• R - Rural
• D - Development

As you can see from the full form, the letter 'R' in NABARD stands for Rural.

NABARD was indeed set up by the Government of India in 1982. Its main objective is to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, and institutional development initiatives.

Therefore, the 'R' is a crucial part of its name, reflecting its focus on the development of rural areas across India.

Looking at the options provided:

1. Rural
2. Rank
3. Regulatory
4. Right

The option that correctly represents what 'R' stands for in NABARD is 'Rural'.

Revision Table: Key Facts about NABARD

Additional Information: Role of Apex Institutions like NABARD

An apex institution like NABARD is a top-level organization that oversees and supports the functions of lower-level institutions within a specific sector. In the case of NABARD, it plays a vital role in India's rural financial system. Its responsibilities include:

• Providing credit for agriculture and rural development activities.
• Developing institutions involved in rural finance.
• Promoting rural development initiatives.
• Supervising regional rural banks (RRBs) and cooperative banks.

Its focus on 'Rural Development' highlights the importance the Indian government places on empowering rural economies and communities.