GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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IDBI
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RRBs
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SIDBI
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NABARD
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Detailed explanation-1: -Upon its formation in 1982, NABARD took over the functions of the erstwhile Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of RBI and ARDC. The Department of Refinance (DOR) deals with short-term and long-term refinance functions of NABARD.
Detailed explanation-2: -NABARD functions as the supervisor of rural financial institutions (RFIs)-both regional rural banks (RRBs) and rural cooperative banks (RCBs)-by virtue of the powers conferred to it under Section 35 (6) of Banking Regulation Act, 1949 (AACS). 2.
Detailed explanation-3: -Integrated Loan Scheme (ILS) Under this scheme, refinance is given to block capital and working capital for one operating cycle. Maximum refinance available is Rs. 15 lacs per borrower.