WBCS.LIVE practice question

The National Bank for Agriculture and Rural Development (NABARD) was officially established during which Five-Year Plan?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Fourth Five-Year Plan
  2. Sixth Five-Year Plan
  3. Fifth Five-Year Plan
  4. Eighth Five-Year Plan

Correct answer and explanation

Correct answer: Sixth Five-Year Plan

Explanation: āœ… Correct Answer: B) Sixth Five-Year Plan šŸ“š Explanation: The National Bank for Agriculture and Rural Development (NABARD) was officially established via an Act of Parliament on July 12, 1982. This critical institutional development took place during the Sixth Five-Year Plan (1980-1985) acting upon the specific recommendation of the B. Sivaraman Committee. NABARD was explicitly created to serve as the supreme regulatory body overseeing regional rural banks and apex cooperative banks in India.