Question : Statement 1: The National Bank for Agriculture and Rural Development (NABARD) was established in 1982.
Statement 2: NABARD provides financial support to agriculture and rural development projects.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer:
Both statements are true.
Solution : The correct option is (a) Both statements are true.
Statement 1 is true. NABARD was indeed established on July 12, 1982, under the recommendations of the Shivaraman Committee. It was created as a development bank to address the agricultural and rural credit needs of India.
Statement 2 is also true. NABARD provides financial support and credit facilities to various agriculture and rural development projects in India. It offers loans, grants, and refinancing options to banks, cooperatives, and other institutions involved in rural development initiatives.
Therefore, both statements are true. NABARD was established in 1982, and it provides financial support to agriculture and rural development projects in India.
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