BANKING AFFAIRS

Detailed explanation-1: -Which one of the following set up core banking infrastructure for rural banks? National Bank for Agriculture and Rural Development has set up joint liability groups (JLG) of farmers to facilitate delivery of credit to farmers.

Detailed explanation-2: -NABARD’s Initiatives In addition, in order to augment the supply side of the financial ecosystem, NABARD had facilitated the process for on-boarding of Regional Rural Banks and Rural Co-operative Banks to Core Banking Solution (CBS).

Detailed explanation-3: -Regional Rural Bank (RRB) Regional Rural Banks were established under the provisions of an Ordinance passed on 26 September 1975 and the RRB Act 1987 to provide sufficient banking and credit facility for agriculture and other rural sectors.

Detailed explanation-4: -The correct answer is NABARD. NABARD was set up in 1982 to coordinate the activities of all institutions involved in the rural financing system. NABARD(National Bank for Agriculture and Rural Development): NABARD is a development bank focussing primarily on the rural sector of the country.

Detailed explanation-5: -Cooperative Banks get Core Banking access with the help of NABARD.