CURRENT AFFAIRS

Detailed explanation-1: -NABARD’s loans rise 25.2 per cent to reach Rs 6 lakh crore in FY21. NABARD said that during 2020-21, it formed about 6.8 lakh self-help groups (SHGs), ensured bank credit for nearly 4 lakh, and released Rs 170.2 crore against a sanction of Rs 418.20 crore for promoting over 8.7 lakh SHGs.

Detailed explanation-2: -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-3: -The Union Budget for FY 2022-23 has made a budgetary provision of Rs 350 crore (total budget is of Rs 2, 516 crore for five years) for computerisation of 63 thousand PACS.

Detailed explanation-4: -Automatic Refinance Scheme (ARF) The various schemes formulated over the years have been categorized into five distinct and compact schemes.

Detailed explanation-5: -The ultimate interest rate to be charged from PACS will not be more than 1% over and above the interest rate charged by NABARD and will be shared by StCB & CCB as per the mutually agreed terms. Repayment period of refinance will be up to 7 years.