Question : ___________ is a financial institution that provides long-term credit for agriculture and rural development.
Option 1: Agricultural Finance Corporation
Option 2: Rural Development Bank
Option 3: Small Industries Development Bank of India (SIDBI)
Option 4: National Bank for Agriculture and Rural Development (NABARD)
Correct Answer: National Bank for Agriculture and Rural Development (NABARD)
Solution : The correct answer is (d) National Bank for Agriculture and Rural Development (NABARD).
NABARD is a financial institution in India that specifically focuses on providing long-term credit and support for agriculture and rural development. It was established in 1982 as an apex development bank by the Government of India.
NABARD's primary role is to provide financial assistance and refinancing to various institutions involved in agricultural and rural development, such as regional rural banks, cooperative banks, and state governments. It offers loans, grants, and other financial services to promote agricultural and rural activities, including crop production, livestock farming, rural infrastructure development, and rural entrepreneurship.
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