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Which of the following is a function of NABARD?
- a)Monitoring flow of ground level credit to agriculture
- b)Credit planning and monitoring
- c)Formulation of operational guidelines for rural financial institutions
- d)All the above
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Which of the following is a function of NABARD?a)Monitoring flow of gr...
NABARD was set up by an act of Parliament in 1982. It facilitates credit for agriculture as well as to promote rural development and infrastructure.
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Which of the following is a function of NABARD?a)Monitoring flow of gr...
Functions of NABARD
NABARD, or the National Bank for Agriculture and Rural Development, plays a crucial role in the development of rural areas and agriculture in India. Its functions are multifaceted and essential for ensuring the growth of the rural economy.
1. Monitoring Flow of Ground Level Credit to Agriculture
- NABARD actively monitors the distribution of credit at the grassroots level to ensure that farmers and rural entrepreneurs have access to necessary financial resources.
- By tracking the flow of credit, NABARD can identify gaps and work with financial institutions to enhance lending to the agricultural sector.
2. Credit Planning and Monitoring
- NABARD is responsible for planning and implementing credit policies for agricultural and rural development.
- It assesses the credit needs of the rural economy and formulates strategies to meet these needs effectively, ensuring sustainable growth.
3. Formulation of Operational Guidelines for Rural Financial Institutions
- NABARD develops operational guidelines that govern the functioning of rural financial institutions, ensuring they operate efficiently and effectively.
- These guidelines help in standardizing practices across institutions, promoting transparency and accountability in rural finance.
Conclusion
- Given its diverse responsibilities, the correct answer is option 'D' - all the above.
- NABARD's comprehensive approach ensures that it addresses various aspects of agricultural finance and rural development, making it a pivotal institution for the overall growth of India's rural economy.
NABARD, or the National Bank for Agriculture and Rural Development, plays a crucial role in the development of rural areas and agriculture in India. Its functions are multifaceted and essential for ensuring the growth of the rural economy.
1. Monitoring Flow of Ground Level Credit to Agriculture
- NABARD actively monitors the distribution of credit at the grassroots level to ensure that farmers and rural entrepreneurs have access to necessary financial resources.
- By tracking the flow of credit, NABARD can identify gaps and work with financial institutions to enhance lending to the agricultural sector.
2. Credit Planning and Monitoring
- NABARD is responsible for planning and implementing credit policies for agricultural and rural development.
- It assesses the credit needs of the rural economy and formulates strategies to meet these needs effectively, ensuring sustainable growth.
3. Formulation of Operational Guidelines for Rural Financial Institutions
- NABARD develops operational guidelines that govern the functioning of rural financial institutions, ensuring they operate efficiently and effectively.
- These guidelines help in standardizing practices across institutions, promoting transparency and accountability in rural finance.
Conclusion
- Given its diverse responsibilities, the correct answer is option 'D' - all the above.
- NABARD's comprehensive approach ensures that it addresses various aspects of agricultural finance and rural development, making it a pivotal institution for the overall growth of India's rural economy.
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Which of the following is a function of NABARD?a)Monitoring flow of ground level credit to agricultureb)Credit planning and monitoringc)Formulation of operational guidelines for rural financial institutionsd)All the aboveCorrect answer is option 'D'. Can you explain this answer?
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Which of the following is a function of NABARD?a)Monitoring flow of ground level credit to agricultureb)Credit planning and monitoringc)Formulation of operational guidelines for rural financial institutionsd)All the aboveCorrect answer is option 'D'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following is a function of NABARD?a)Monitoring flow of ground level credit to agricultureb)Credit planning and monitoringc)Formulation of operational guidelines for rural financial institutionsd)All the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is a function of NABARD?a)Monitoring flow of ground level credit to agricultureb)Credit planning and monitoringc)Formulation of operational guidelines for rural financial institutionsd)All the aboveCorrect answer is option 'D'. Can you explain this answer?.
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