Economics • Banking & FinanceEasy
Which organization in India regulates and develops the microfinance and rural banking sector, functioning as an apex development bank?
A. Securities and Exchange Board of India
B. National Bank for Agriculture and Rural Development✓ Correct Answer
C. Industrial Development Bank of India
D. Small Industries Development Bank of India
💡 Solution & Explanation
The National Bank for Agriculture and Rural Development is an apex regulatory body established under an Act of Parliament in 1982 to facilitate credit flow for promotion and development of agriculture, small-scale industries, and rural crafts. Securities and Exchange Board of India regulates capital markets. Small Industries Development Bank of India focuses specifically on micro, small, and medium enterprises.
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