CURRENT AFFAIRS

Detailed explanation-1: -NABARD Credit Support of Rs. 1, 607 crore to Bengal in COVID-19 crisis.

Detailed explanation-2: -Long-term loans to State Government. NABARD provides long-term (LT) loans to State Governments to contribute to the share capital of cooperative credit institutions. This reimbursement-based support is intended to encourage larger lending programmes by these cooperatives to meet the agricultural credit requirements.

Detailed explanation-3: -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. Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by Government of India.

Detailed explanation-4: -NABARD provides by way of refinance, loans and advances repayable on demand or on the expiry of fixed period not exceeding 12 months, to Cooperative Banks and Regional Rural Banks for production, marketing and procurement activities.

Detailed explanation-5: -With the aim of doubling the income of the farming community in Assam, NABARD, in collaboration with the State Government, is working as a solution provider for the most critical agriculture and allied sectors.