CURRENT AFFAIRS

Detailed explanation-1: -NABARD disbursed concessional refinance of Rs 15, 000 crore from the Long Term Rural Credit Fund to Regional Rural Banks (RRBs) and Cooperative Banks (CBs) for boosting capital formation in agriculture.

Detailed explanation-2: -For FY 2022-23 to 2023-24: IS of 1.5% will be payable to Cooperative Bank, RRBs, SFBs, Commercial Banks on their own funds used for Short Term loans for agriculture and allied activities including animal husbandry, dairy, fisheries, bee keeping etc., provided the banks lend at 7%.

Detailed explanation-3: -The various schemes formulated over the years have been categorized into five distinct and compact schemes.

Detailed explanation-4: -Cooperative Development Fund (CDF) CDF was established on the basis of a decision taken by the Board of Directors in its 69th meeting held on 2nd February 1993 under the provisions of section 45 of NABARD Act, 1981 with an initial corpus of Rs. 10 crore.

Detailed explanation-5: -3.54 The RIDF was set up by the Government in 1995-96 for financing ongoing rural Infrastructure projects. The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD).