BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which of the following organizations/agencies works solely to monitor and arrange flow of agriculture credit in India?

A	NABARD
B	SIDBI
C	RBI
D	SEBI

Explanation:

Detailed explanation-1: -NABARD-National Bank For Agriculture And Rural Development.

Detailed explanation-2: -The major functions of NABARD include promotion and development, refinancing, financing, planning, monitoring and supervision.

Detailed explanation-3: -The correct answer is Facilitating credit flow for the promotion and development of agriculture. The full form of NABARD is National Bank for Agriculture and Rural Development. NABARD was established on 12th July 1982.

Detailed explanation-4: -Agricultural credit refers to one of several credit vehicles used to finance agricultural transactions such as a loan, note, bill of exchange, or a banker’s acceptance. Financing is specially adapted to the specific financial needs of farmers.

Detailed explanation-5: -Agricultural credit is disbursed through multi-agency network consisting of Commercial Banks (CBs), Regional Rural Banks (RRBs) and Cooperatives.

There is 1 question to complete.