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Which of the following grants / grant direct credit assistance to rural households?
1. Regional Rural Banks
2. National Bank for Agriculture and Rural Development
3. Land Development Banks
1. Regional Rural Banks
2. National Bank for Agriculture and Rural Development
3. Land Development Banks
Select the correct answer using the codes given below.
[2013]
- a)1 and 2 only
- b)2 only
- c)1 and 3 only
- d)1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Which of the following grants / grant direct credit assistance to rura...
Land development bank started financing long term loan for more significant rural development activities like rural and cottage industries, rural artisans etc. The main purpose of RRB’s is to mobilize financial resources from rural / semi-urban areas and grant loans and advances mostly to small and marginal farmers, agricultural labourers and rural artisans. NABARD does not give “direct” credit assistance. It provides credit Via intermediaries such as Microfinance companies, Cooperative society, RRB.
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Which of the following grants / grant direct credit assistance to rura...
Explanation:
The correct answer is option C, which means that both Regional Rural Banks (RRBs) and Land Development Banks (LDBs) grant direct credit assistance to rural households.
Regional Rural Banks (RRBs):
RRBs are financial institutions that are established with the purpose of providing banking facilities in rural areas. They are jointly owned by the Government of India, the concerned State Government, and the sponsor bank. RRBs provide financial services such as savings accounts, loans, and other banking facilities to rural households. These banks primarily cater to the credit needs of small and marginal farmers, agricultural laborers, and rural artisans. Hence, RRBs grant direct credit assistance to rural households.
Land Development Banks (LDBs):
LDBs are specialized financial institutions that provide long-term credit for agriculture and rural development. They are established at the state level and primarily cater to the needs of the agricultural sector. LDBs provide credit for land purchase, agricultural machinery, irrigation, and other agricultural activities. They also provide loans to rural households for various purposes, including housing, education, and small-scale industries. Therefore, LDBs also grant direct credit assistance to rural households.
National Bank for Agriculture and Rural Development (NABARD):
NABARD is a development bank that focuses on the promotion and development of agriculture and rural sectors. It provides refinancing facilities and loans to various institutions, including RRBs and LDBs, for extending credit to rural households. NABARD plays a crucial role in channelizing credit to rural areas but does not directly grant credit to rural households.
Hence, the correct answer is option C, which includes both RRBs and LDBs.
The correct answer is option C, which means that both Regional Rural Banks (RRBs) and Land Development Banks (LDBs) grant direct credit assistance to rural households.
Regional Rural Banks (RRBs):
RRBs are financial institutions that are established with the purpose of providing banking facilities in rural areas. They are jointly owned by the Government of India, the concerned State Government, and the sponsor bank. RRBs provide financial services such as savings accounts, loans, and other banking facilities to rural households. These banks primarily cater to the credit needs of small and marginal farmers, agricultural laborers, and rural artisans. Hence, RRBs grant direct credit assistance to rural households.
Land Development Banks (LDBs):
LDBs are specialized financial institutions that provide long-term credit for agriculture and rural development. They are established at the state level and primarily cater to the needs of the agricultural sector. LDBs provide credit for land purchase, agricultural machinery, irrigation, and other agricultural activities. They also provide loans to rural households for various purposes, including housing, education, and small-scale industries. Therefore, LDBs also grant direct credit assistance to rural households.
National Bank for Agriculture and Rural Development (NABARD):
NABARD is a development bank that focuses on the promotion and development of agriculture and rural sectors. It provides refinancing facilities and loans to various institutions, including RRBs and LDBs, for extending credit to rural households. NABARD plays a crucial role in channelizing credit to rural areas but does not directly grant credit to rural households.
Hence, the correct answer is option C, which includes both RRBs and LDBs.
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