RBI set up the Agricultural Refinance Corporation (ARC) in 1963 to work as a refinancing agency in providing medium term and long-term agricultural credit to support investment credit needs for agricultural development. In 1975, ARC was renamed as Agriculture Refinance and Development Corporation (ARDC) to give focused attention to credit offtake, development and promotion of the agricultural sector. Ultimately, NABARD was set by RBI in 1982 whose main function is that it:
A. directly lends and monitors the rural borrowers
B. refinances the banks extending rural finance
C. refinances the rural borrowers obtaining credit from banks
D. directly finances the rural borrowers and gets refinance from government
Answer: Option B
This Question Belongs to Commerce >> Banking And Financial Institutions
A. 1, 2 and 3
B. 2, 3 and 4
C. 1, 2 and 4
D. 1, 2, 3 and 4
The coverage of Right to Information Act (RTI), 2005 is:
A. Whole of India
B. Whole of India, except North Eastern States
C. Whole of India, except the State of Jammu & Kashmir
D. None of the above
Second generation reforms in our country do not comprise of which one of the following?
A. Exploiting the knowledge based global economy
B. Growing Indian transnational corporations
C. Population control measures
D. Clean environment
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