Which of the following grants/ grant direct credit assistance to rural...
NABARD do not provide direct assistance. It "refinance" the assistance by other institutions
Which of the following grants/ grant direct credit assistance to rural...
The correct answer is option 'C' i.e., 1 and 3 only.
Explanation:
Regional Rural Banks (RRBs):
- Regional Rural Banks were established under the provisions of the Regional Rural Banks Act, 1976.
- They provide credit and other facilities to small and marginal farmers, agricultural labourers, artisans, and small entrepreneurs in rural areas.
- They are jointly owned by the Central Government, State Government, and the sponsor bank.
- They provide a wide range of credit facilities such as crop loans, term loans, and working capital loans.
Land Development Banks (LDBs):
- Land Development Banks were established to provide long-term credit for agricultural purposes.
- They provide loans for land development, irrigation, and purchase of agricultural implements and machinery.
- They also provide loans for the construction of houses, cattle sheds, and other farm buildings.
National Bank for Agriculture and Rural Development (NABARD):
- NABARD was established in 1982 with the aim of promoting rural development through agriculture and allied activities.
- It provides credit and other facilities to farmers, rural artisans, and small entrepreneurs in rural areas.
- It provides direct credit assistance to rural households through its various schemes such as the Dairy Entrepreneurship Development Scheme, Rural Infrastructure Development Fund, and Microfinance Development and Equity Fund.
Hence, the correct answer is option 'C' i.e., 1 and 3 only.