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NABARD merged with which organization in 1982?
16. NABARD merged with which organization in 1982?
- RBI
- Government
- ARDC
- EXIM Bank
Answer: C) ARDC
Explanation:
NABARD was set up on the proposals of the B.Sivaramman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to execute the National Bank for Agriculture and Rural Development Act 1981. It supplanted the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of Reserve Bank of India, and Agricultural Refinance and Development Corporation (ARDC). It is one of the chief organizations giving Rs.14080 crores (100 percent share). The approved offer capital is Rs.30,000 crore. Worldwide partners of NABARD incorporate World Bank-subsidiary associations and worldwide formative offices working in the field of horticulture and country advancement. These associations help NABARD by prompting and giving financial guide for the upliftment of individuals in the country regions and advancing the farming system.