CURRENT AFFAIRS

Detailed explanation-1: -As a mark of recognition, NABARD has awarded Indian Overseas Bank, the Second prize among the Public Sector Commercial Banks for excellence in performance under SHG Bank Linkage Programme in Tamil Nadu during the year 2018-19.

Detailed explanation-2: -Apart from extending refinance support of 100% to the financing Banks, NABARD also extends financial support for awareness creation and capacity building of all stakeholders under the Scheme. NABARD also extends grant support for formation and nurturing of JLGs to Banks and other JLG Promoting Institutions (JLGPIs).

Detailed explanation-3: -The correct answer is HDFC Bank.

Detailed explanation-4: -Year 2001-02 marked a decade of Self Help Group-bank linkage programme in India. It was in 1992 that NABARD had circulated guidelines to banks for financing Self Help Groups (SHGs) under a Pilot Project that aimed at financing 500 SHGs across the country through the banking system.

Detailed explanation-5: -The department came into being in the year 1998 with mainstreaming of the microfinance innovation viz. SHG-Bank linkage programme to a nation-wide scale. NABARD, through the department of ‘Micro Credit Innovations’, has continued its role as the facilitator of microfinance initiatives in the country.