GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Since 1983, the RBI’s responsibility with respect to Regional Rural Banks was transferred to
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ARDC
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SBI
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NABARD
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PACs
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Explanation:
Detailed explanation-1: -NABARD was established on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981. It replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC).
Detailed explanation-2: -A. NABARD provides Co-operative Banks and Regional Rural Banks loans and advances, repayable on demand or on the expiry of fixed periods not exceeding 12 months, by way of refinance for production, marketing and procurement activities.
Detailed explanation-3: -RRBs are regulated by NABARD. Other banks are regulated by RBI directly.
There is 1 question to complete.