BANKING AFFAIRS

Detailed explanation-1: -The state-run National Bank for Agriculture and Rural Development, NABARD has set a target of providing 30, 000 crore rupees as credit to farmers for irrigation over the next three years.

Detailed explanation-2: -NABARD provides medium-term credit limits for conversion of short-term crop loans advanced for financing seasonal agricultural operations (SAO) to State Co-operative Banks and Regional Rural Banks for providing relief to the farmers whose crops have been damaged due to natural calamities.

Detailed explanation-3: -It was dedicated to the service of the nation by the late Prime Minister Smt. 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-4: -Features of NABARD Scheme Offering support for funding or refinancing. Growing the infrastructure of rural communities in India. Creating credit plans available at a district level for these communities. Offering guidance and support to the banking sector so the latter can achieve their own credit targets for the year.