Question

NABARD was established in the year:

• A. 1969
• B. 1975
• C. 1982
• D. 1991

Hint:

NABARD's headquarters is in Mumbai. It operates under the Ministry of Finance. It also promotes Self-Help Groups (SHGs) and micro-finance in rural areas.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
NABARD (National Bank for Agriculture and Rural Development) is the apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India.
Step 2: Detailed Explanation:
It was established on 12 July 1982 by a special act of Parliament.
It was created to fulfill the credit needs of the rural population and to provide refinance facilities to commercial banks for their rural lending.
It took over the functions of the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of the RBI.
Step 3: Final Answer:
NABARD was established in 1982.