WBCS.LIVE practice question

What is the main objective of the 'NABARD', established in 1982?

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

Answer options

  1. Industrial development
  2. Stock market regulation
  3. Agriculture and rural development
  4. Urban housing finance

Correct answer and explanation

Correct answer: Agriculture and rural development

Explanation: āœ… Correct Answer: C) Agriculture and rural development šŸ“š Explanation: The National Bank for Agriculture and Rural Development (NABARD) was established to provide credit and promote the development of the rural economy. It acts as an apex financing institution for Regional Rural Banks and Cooperative Banks to ensure farmers have access to affordable loans. It was created on the recommendation of the B. Sivaraman Committee.