ENTREPRENEURSHIP

Detailed explanation-1: -BACKGROUND. National Bank for Agriculture and RuralDevelopment (NABARD) was established on 12 July 1982 by an Act of theParliament.

Detailed explanation-2: -NABARD was established by an act of parliament. It was established on the recommendations of B. Sivaraman committee to implement the National Bank for Agriculture and Rural Development Act 1981. It provides developmental credit in rural areas.

Detailed explanation-3: -NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC). It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982.

Detailed explanation-4: -The correct answer is option 3, i.e. NABARD. NABARD was set up in 1982 to coordinate the activities of all institutions involved in the rural financing system. NABARD stands for National Bank for Agriculture and Rural Development. It is a development financial institution in India.