Economics • Banking & FinanceEasy
Which national financial institution plays a pivotal developmental role by providing refinance support for agriculture, small-scale industries, and rural infrastructure projects in Sikkim?
A. Securities and Exchange Board of India
B. National Bank for Agriculture and Rural Development✓ Correct Answer
C. Industrial Development Bank of India
D. Life Insurance Corporation
💡 Solution & Explanation
National Bank for Agriculture and Rural Development was established in 1982 under an Act of Parliament to provide credit for promotion of agriculture, small-scale industries, and rural development. Securities and Exchange Board of India regulates capital markets rather than rural refinance. National Bank for Agriculture and Rural Development actively monitors tribal and hill area development funds in Sikkim.
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