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Which of the following is correct with respect to the primary function of Agricultural Credit Department (ACD)?
To coordinate the functions of RBI with other banks and state cooperative banks in respect of agricultural credit
  • To maintain expert staff to study all the questions of agricultural credit and be available for consultation by central government, state governments, scheduled commercial banks and state cooperative banks.
  • To provide legislations to check private money lending and checking other malpractices.
    • a)
      Only 1 and 2
    • b)
      Only 2
    • c)
      Only 3
    • d)
      Only 2 and 3
    • e)
      All 1, 2 and 3
    Correct answer is option 'E'. Can you explain this answer?
    Most Upvoted Answer
    Which of the following is correct with respect to the primary functio...
    The correct answer is All 1, 2 and 3
    Key Points
    • The RBI was set up to regulate the issue of bank notes secure monetary stability in the country operate currency and credit system to its advantage.
    • The role of RBI in agricultural credit was found in the establishment of Agricultural Credit Department (ACD).
    The primary functions of ACD are
    • To coordinate the functions of RBI with other banks and state cooperative banks in respect of agricultural credit
    • To maintain expert staff to study all the questions of agricultural credit and be available for consultation by central government, state governments, scheduled commercial banks and state cooperative banks.
    • To provide legislations to check private money lending and checking other malpractices.
    Additional Information:
    All India Rural Credit Survey Committee (AIRCSC) under the chairmanship of Sri. Gorwala in 1954 suggested several recommendations with regard to the activities of RBI in the sphere of rural credit. Based on this, two funds were established after amending RBI act, 1934.
    1. National Agricultural credit (Long-term operations) fund-1955
    2. National Agricultural credit (Stabilization fund)-1956
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    Which of the following is correct with respect to the primary function of Agricultural Credit Department (ACD)? To coordinate the functions of RBI with other banks and state cooperative banks in respect of agricultural credit To maintain expert staff to study all the questions of agricultural credit and be available for consultation by central government, state governments, scheduled commercial banks and state cooperative banks. To provide legislations to check private money lending and checking other malpractices. a)Only 1 and 2b)Only 2c)Only 3d)Only 2 and 3e)All 1, 2 and 3Correct answer is option 'E'. Can you explain this answer?
    Question Description
    Which of the following is correct with respect to the primary function of Agricultural Credit Department (ACD)? To coordinate the functions of RBI with other banks and state cooperative banks in respect of agricultural credit To maintain expert staff to study all the questions of agricultural credit and be available for consultation by central government, state governments, scheduled commercial banks and state cooperative banks. To provide legislations to check private money lending and checking other malpractices. a)Only 1 and 2b)Only 2c)Only 3d)Only 2 and 3e)All 1, 2 and 3Correct answer is option 'E'. 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 of the following is correct with respect to the primary function of Agricultural Credit Department (ACD)? To coordinate the functions of RBI with other banks and state cooperative banks in respect of agricultural credit To maintain expert staff to study all the questions of agricultural credit and be available for consultation by central government, state governments, scheduled commercial banks and state cooperative banks. To provide legislations to check private money lending and checking other malpractices. a)Only 1 and 2b)Only 2c)Only 3d)Only 2 and 3e)All 1, 2 and 3Correct answer is option 'E'. 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 of the following is correct with respect to the primary function of Agricultural Credit Department (ACD)? To coordinate the functions of RBI with other banks and state cooperative banks in respect of agricultural credit To maintain expert staff to study all the questions of agricultural credit and be available for consultation by central government, state governments, scheduled commercial banks and state cooperative banks. To provide legislations to check private money lending and checking other malpractices. a)Only 1 and 2b)Only 2c)Only 3d)Only 2 and 3e)All 1, 2 and 3Correct answer is option 'E'. Can you explain this answer?.
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