Question : Which of the following institutions provides credit for agriculture and rural development in India?
Option 1: Reserve Bank of India (RBI)
Option 2: National Bank for Agriculture and Rural Development (NABARD)
Option 3: Small Industries Development Bank of India (SIDBI)
Option 4: None of the above
Correct Answer:
National Bank for Agriculture and Rural Development (NABARD)
Solution : The correct answer is (b) National Bank for Agriculture and Rural Development (NABARD)
The National Bank for Agriculture and Rural Development (NABARD) is the institution in India that specifically provides credit for agriculture and rural development. It was established by the Government of India to support and promote agricultural and rural development in the country. NABARD plays a crucial role in providing financial assistance, refinancing, and other related services to agricultural and rural sectors, including farmers, rural artisans, cooperatives, and rural development institutions.
