Question : ______ 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.
Option 1: Securities and Exchange Board of India
Option 2: Small Industries Development Bank of India
Option 3: Reserve Bank of India
Option 4: National Bank for Agriculture and Rural Development
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Correct Answer: National Bank for Agriculture and Rural Development
Solution : The correct option is the National Bank for Agriculture and Rural Development .
The organisation that came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI (Reserve Bank of India) and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC) is the National Bank for Agriculture and Rural Development (NABARD). NABARD is an apex development financial institution in India on rural and agricultural development.
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