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Which bank has partnered with Open Network for Digital Commerce (ONDC) to bring e-commerce in the agricultural domain in June 2022?
  • a)
    State Bank of India
  • b)
    Punjab National Bank
  • c)
    Union Bank of India
  • d)
    National Bank for Agriculture and Rural Development (NABARD)
  • e)
    Indian Bank
Correct answer is option 'D'. Can you explain this answer?
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Which bank has partnered with Open Network for Digital Commerce (ONDC...
Open Network for Digital Commerce (ONDC) has partnered with National Bank for Agriculture and Rural Development (NABARD) to bring e-commerce in the agricultural domain. Under the partnership, ONDC and NABARD will organise the NABARD-ONDC Grand Hackathon on 1st-3rd July 2022.
Hence, the correct option is (D).
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Directions : Read the passage carefully and answer the questions given below it. Certain words/ phrases have been given in bold to help you locate them while answering some of the questions.Farmers have progressed the world over yet they are languishing in this country. Despite decades of industrial development, about 600 million Indians, or roughly half the population, depend on growing crops or rearing animals to earn a living. The country still relies on imports of essential items, such as pulses and cooking oil. Almost half of the average Indian household’s expenditure is on food, an important factor behind inflation. Food security at the micro level remains elusive. The global development experience, especially of the BRICS countries, reveals that one percentage point growth in agriculture is at least two to three times more effective in reducing poverty than the same degree of growth emanating from the non-agriculture sector.Of late, the woes of the farmer have exacerbated. Untimely rain damaged winter crops in northern India. The heat wave killed more than 2000 people - mostly working in the fields. Suicides by farmers, owing to the low price of their produce, are almost a recurrent tragedy. There is general concern over the monsoon; patchy or inadequate rainfall can spell disaster. Low productivity is a chronic problem because of the shrinking size of the cultivated plots. Two-grain harvests a year are fairly routine. But the yields are low by global standards. The policy message for reforming agriculture is very clear. The areas which merit urgent and concerted attention to streamlining agriculture revolve around investment, incentive, and institutions. We need to rationalise and prune input subsidies. The savings, thus generated, should be invested in agriculture - Research & Development at rural roads, rural education, irrigation and water works. Higher levels of investment in agriculture both by the public and private sector can yield much better results. Policy -makers must be bold to bite the bullet and drastically cut subsidies which will open the avenue for increasing the size of the public investment. One way to contain the subsidy bill is to provide subsidies directly to farmers. Private investment is the engine of agricultural growth. Again, it responds to incentives. Much of the adverse impact on incentives comes from strangulating the domestic market under the Essential Commodities Act (EC

Directions: Answer the given question based on the following passage:Agriculture occupies a pivotal position for ensuring livelihood, food and nutritional security, sustainable development and eradication of poverty in India. It is the prime sector for generating employment opportunities for majority of the population of any country.The contribution of agriculture sector to the national gross domestic product (GDP) has been continuously declining over the years, while other sectors, especially the service sector, are showing an increasing trend. In 1970-71, agriculture sector contributed about 44 per cent of GDP, which declined substantially to 13.5 per cent in 2010-11 (at 2004-05).During the last decade, there was a paradigm shift in the patterns of production, consumption, and trade in Indian agriculture through the use of new technologies. The shift in production and consumption from food-grains to high-value agricultural commodities such as fruits and vegetables, milk and milk products, meat, eggs, fish, etc. took place in a big way. Now there is a declining share of traditional crops/commodities in production, consumption and trade in India. Agriculture, horticulture and other non-traditional high-value agricultural crops occupy an important place in income growth in rural areas.Despite being one of the largest producers of many agricultural commodities such as fruits, vegetables, milk and livestock, etc. in the world, the extent of value addition to raw food material in India is only 8%, while it is 23%, 45% and 188% in China, Philippines and UK, respectively. Furthermore, only 2.2% of total fruits and vegetables are processed in India as compared to 30% in Thailand, 80% in Malaysia and 70% in UK.It is pertinent to mention here that total annual loss during the post harvest operations under agriculture produce is approximately Rs. 88,000 crore. This trend can be reversed by properly financing secondary agriculture, which can lead to 2-3 times value addition to primary agriculture products. Most of the primary agriculture produce requires processing before being finally consumed and the value addition/processing of the farm production to transform it into consumable item which is called secondary agriculture. It includes processing and value addition in all food and non-food products for human, animal and industrial use.What according to the passage took place in a big way?

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Which bank has partnered with Open Network for Digital Commerce (ONDC) to bring e-commerce in the agricultural domain in June 2022?a)State Bank of Indiab)Punjab National Bankc)Union Bank of Indiad)National Bank for Agriculture and Rural Development (NABARD)e)Indian BankCorrect answer is option 'D'. Can you explain this answer?
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Which bank has partnered with Open Network for Digital Commerce (ONDC) to bring e-commerce in the agricultural domain in June 2022?a)State Bank of Indiab)Punjab National Bankc)Union Bank of Indiad)National Bank for Agriculture and Rural Development (NABARD)e)Indian BankCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Which bank has partnered with Open Network for Digital Commerce (ONDC) to bring e-commerce in the agricultural domain in June 2022?a)State Bank of Indiab)Punjab National Bankc)Union Bank of Indiad)National Bank for Agriculture and Rural Development (NABARD)e)Indian BankCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which bank has partnered with Open Network for Digital Commerce (ONDC) to bring e-commerce in the agricultural domain in June 2022?a)State Bank of Indiab)Punjab National Bankc)Union Bank of Indiad)National Bank for Agriculture and Rural Development (NABARD)e)Indian BankCorrect answer is option 'D'. Can you explain this answer?.
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