BANKING AFFAIRS

Detailed explanation-1: -National Bank for Agriculture and RuralDevelopment (NABARD) was established on 12 July 1982 by an Act of theParliament.

Detailed explanation-2: -Indira Gandhi on 05 November 1982. Set up with an initial capital of Rs.100 crore, its’ paid up capital stood at Rs.17, 080 crore as on 31 March 2022.

Detailed explanation-3: -It was established on 12th July. 1982 in sixth five year plan by a special act by the parliament and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture and rural non-farm sector.

Detailed explanation-4: -National Bank For Agriculture & Rural Development (NABARD) is set up as an apex Development Bank by the Government of India with a mandate for facilitating credit flow for promotion and development of agriculture, cottage and village industries.

Detailed explanation-5: -NABARD stands for National Bank for Agricultural and Rural Development. It is headquartered in Mumbai and was established on 12th July 1982 on the recommendations of B. Sivaraman Committee. It was established during the Sixth Five Year Plan, which was from the year 1980-85.