NABARD Establishment Year
National Bank for Agriculture and Rural Development (NABARD) was established in which year?
- 1969
- 1975
- 1982 — Correct Answer
- 1991
Explanation:
Correct Answer Explanation
NABARD was set up in 1982 as an apex body to coordinate the activities of all institutions involved in the rural financing system.
Key Points:
- NABARD stands for National Bank for Agriculture and Rural Development.
- It coordinates activities of commercial banks, RRBs, cooperatives and land development banks.
- Before NABARD, in 1969, India adopted social banking and multi-agency approach for rural credit.
- The Green Revolution led to diversification of rural credit towards production-oriented lending.
Why Other Options Are Wrong
- A (1969): This was when India adopted social banking approach.
- B (1975): No significant rural banking institution was set up this year.
- D (1991): This was the year of economic reforms in India.
📚 About this Topic — CH-5: RURAL DEVELOPMENT
This multiple choice question is from CH-5: RURAL DEVELOPMENT, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-5: RURAL DEVELOPMENT to strengthen your preparation.
