Economics • Banking & FinanceMedium
Which institution in India acts as the apex refinancing agency for institutional credit directed toward agriculture, small-scale industries, and rural development?
A. Reserve Bank of India
B. Securities and Exchange Board of India
C. National Bank for Agriculture and Rural Development✓ Correct Answer
D. Industrial Development Bank of India
💡 Solution & Explanation
Established in 1982 based on the recommendations of the B. Sivaraman Committee, NABARD serves as an apex development bank supporting agriculture and rural enterprises. Alternative institutions handle monetary policy regulation, capital market oversight, or industrial finance. It coordinates financial institutions operating in the rural economy.
More Economics Banking & Finance questions
- What does the term 'Monetary Policy Committee (MPC)' entail in India after its establishment under the…
- Examine the Prompt Corrective Action framework administered by the Reserve Bank of India for supervised…
- Examine the composition and mandate of the Monetary Policy Committee (MPC) established under the Reserve Bank…
- What primary function do Regional Rural Banks (RRBs), such as the erstwhile Himachal Pradesh Gramin Bank,…
- What is the maximum deposit insurance coverage provided by the Deposit Insurance and Credit Guarantee…