BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Refinance facility is provided by NABARD. Which institutions can avail this facility?
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State cooperative banks
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Regional rural banks
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Commercial bank
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All of the above
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Explanation:
Detailed explanation-1: -Refinance Institutions Examples Export-Import Bank of India are refinanced institutions. Micro Units Development and Refinance Agency Bank (MUDRA). Small Industries Development Bank of India (SIDBI).
Detailed explanation-2: -Refinance is provided for production purposes at concessional rate of interest to State Co-operative Banks (StCBs) and Regional Rural Banks (RRBs) by way of sanction of credit limits.
Detailed explanation-3: -Section 35(6) of the Banking Regulation Act, 1949 empowers NABARD to conduct inspection of State Cooperative Banks (StCBs), District Central Cooperative Banks (DCCBs) and Regional Rural Banks (RRBs) (collectively called NABARD’s Supervised Entities).
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