NABARD sanctioned a loan assistance of Rs. 1350 crore to Rajasthan under the ‘RIDF’. What does ‘R’ stand for in ‘RIDF’?
Rural
Understanding RIDF in NABARD Loan Assistance
Let's understand the question about the NABARD loan assistance to Rajasthan under the 'RIDF' scheme and specifically what the letter 'R' in 'RIDF' represents.
NABARD stands for the National Bank for Agriculture and Rural Development. It is an apex regulatory body for overall regulation and licensing of regional rural banks and apex cooperative banks in India. NABARD is responsible for the development of the rural areas of the country.
The question mentions that NABARD sanctioned a loan assistance of Rs. 1350 crore to Rajasthan under the ‘RIDF’ scheme. This scheme is one of the key mechanisms used by NABARD to fund rural infrastructure projects across states.
The abbreviation 'RIDF' stands for the Rural Infrastructure Development Fund.
Breaking down the acronym:
- R stands for Rural
- I stands for Infrastructure
- D stands for Development
- F stands for Fund
The question asks what the letter ‘R’ stands for in ‘RIDF’.
Based on the full form, the letter ‘R’ in ‘RIDF’ stands for Rural.
Now let's look at the given options:
- Rapid
- Re-arrange
- Rural
- Response
Comparing our finding with the options, we see that 'Rural' is listed as option 3.
Therefore, the correct answer is 'Rural'.
Revision Table: Key Terms from NABARD and RIDF
| Term | Full Form / Meaning | Context |
|---|---|---|
| NABARD | National Bank for Agriculture and Rural Development | Apex body for rural and agricultural finance in India. |
| RIDF | Rural Infrastructure Development Fund | A fund managed by NABARD for financing rural infrastructure projects. |
| Rural | Pertaining to or characteristic of the countryside rather than the town. | Defines the area targeted by NABARD's RIDF scheme. |
| Infrastructure | Basic physical and organizational structures and facilities (e.g., buildings, roads, power supplies) needed for the operation of a society or enterprise. | The type of development funded by RIDF in rural areas. |
Additional Information on RIDF and NABARD Assistance
The Rural Infrastructure Development Fund (RIDF) was established by the Government of India in 1995-96 with NABARD. The primary objective was to provide funds to State Governments for quick completion of ongoing projects relating to medium and minor irrigation, soil conservation, watershed management, and other forms of rural infrastructure.
Over the years, the scope of RIDF has been broadened to include various activities such as rural roads and bridges, rural drinking water projects, rural sanitation projects, rural markets, public health infrastructure, and education infrastructure in rural areas.
NABARD channels these funds to state governments and state-owned corporations for approved projects that benefit rural populations. The assistance provided to states like Rajasthan helps in accelerating the pace of infrastructure development crucial for improving the quality of life and economic opportunities in rural regions.
The RIDF plays a significant role in supporting the creation of essential assets in rural India, contributing to agricultural productivity and overall rural prosperity.
Important Questions from RRBs & NABARD
What was the main focus of the review meeting of the Regional Rural Banks (RRBs) in New Delhi in August 2024?
NABARD is an apex finance institution set up by the Indian Government in 1982. What does 'R' in NABARD stand for?
The National Bank for Agriculture and Rural Development (NABARD) was established in:
______ 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.
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.
