CURRENT AFFAIRS

Detailed explanation-1: -Jaipur, 29 September 2021: AU Small Finance Bank today announced that the bank has signed a Memorandum of Understanding (MoU) with National Bank for Agriculture & Rural Development (NABARD) to boost ongoing rural developmental initiatives in the state of Rajasthan.

Detailed explanation-2: -Highlights. A Memorandum of Understanding (MoU) was signed in the presence of NABARD Chairman and Managing Director of AU Small Finance Bank. It will provide institutional credit support to ongoing development schemes in Rajasthan, which in turn will lead to further prosperity in the rural areas.

Detailed explanation-3: -NABARD provides Long Term and Medium Term Refinance to banks for providing adequate credit to farmers and rural artisans etc. for their investment activities. Hence, Option 1 is correct.

Detailed explanation-4: -As on 31 December 2022, NABARD has sanctioned term loan of ₹ 1860.28 crore to State Govt. of Tamil Nadu for 28 fishery infrastructure proposals, State Govt. of Goa for 1 fishery infrastructure proposal, State Govt. of West Bengal for 3 fishery infrastructure proposals, State Govt.

Detailed explanation-5: -After bagging the Small Finance Bank (SFB) license in 2015, Au Financiers commenced its journey as an SFB on 19th April 2017.