Answer» Correct Answer - Option 2 : Only 2
The correct answer is Only 2. - NABARD 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 (ARDC).
- It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982. Hence statement 1 is incorrect.
- The main objectives of NABARD are as follows:
- NABARD is an apex body which provides refinance assistance for agriculture, promoting rural development activities. It also provides all necessary finance and assistance to small scale industries.
- NABARD in coordination with the State Governments provides agriculture.
- It improves small and minor irrigation by way of promoting agricultural activities.
- It undertakes R&D in agriculture, rural industries.
- NABARD promotes various organizations involved in agricultural production by contributing to their capital.
Hence statement 2 is correct. - In discharging its role as a facilitator for rural prosperity, NABARD is entrusted with:
- Providing refinance to lending institutions in rural areas
- Bringing about or promoting institutional development and
- Evaluating, monitoring and inspecting the client banks
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