BANKING AFFAIRS

Detailed explanation-1: -NABARD is a Development Bank with a mandate for providing and regulating credit for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other allied economic activities in rural areas to promote prosperity of rural areas.

Detailed explanation-2: -The ultimate interest rate to be charged from PACS will not be more than 1% over and above the interest rate charged by NABARD and will be shared by StCB & CCB as per the mutually agreed terms. Repayment period of refinance will be up to 7 years.

Detailed explanation-3: -NABARD does not provide any loan to individuals. It only refinances banks that give loan under specific categories in agriculture including dairy animal rearing. Q. Which of the following statements is true or false?

Detailed explanation-4: -Microfinance Sector The programme has empowered 118.93 lakh Self Help Groups (SHGs) and 14.2 crore rural households in India as on 31 March 2022. Nearly 33.98 lakh SHGs availed credit support of Rs. 997.29 crore from various banks during 2020-21, at an average of Rs. 2.93 lakh per SHG.