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At present, the responsibility for the provision of finance for Agriculture trade and small scale industries has been handed over to_____.
- a)SBI
- b)NABARD
- c)NABARD and SIDBI
- d)NABARD, EXIM BANK & SIDBI
Correct answer is 'D'. Can you explain this answer?
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At present, the responsibility for the provision of finance for Agricu...
a) National Bank for Agriculture and Rural Development (NABARD)
The National Bank for Agriculture and Rural Development (NABARD) was established on July 12, 1982 by a special Act of parliament. It serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas. The following are some of the functions of NABARD:-
It takes measures towards institution building for improving absorptive capacity of the credit delivery system, including monitoring, formulation of rehabilitation schemes, restructuring of credit institutions, training of personnel, etc.
It co-ordinates the rural financing activities of all institutions engaged in developmental work at the field level and maintains liaison with Government of India, state governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation
It undertakes monitoring and evaluation of projects refinanced by it and also refinances the financial institutions which finance the rural sector.
It regulates the institutions which provide financial help to the rural economy.
It provides training facilities to the institutions working in the field of rural upliftment and regulates the cooperative banks and the RRB’s.
b) Export-Import Bank of India (EXIM Bank)
The Export-Import Bank of India (EXIM Bank) is a specialized financial institution, wholly owned by the Government of India (GoI), for financing, facilitating and promoting foreign trade of India. It was set up in 1982 by an Act of the Parliament “THE EXPORT-IMPORT BANK OF INDIA ACT, 1981” at Mumbai, Maharashtra. It provide financial assistance to exporters and importers and co-ordinate the working of institutions engaged in financing export and import of goods and services with a view to promote the India’s international trade and for matters connected therewith or incidental thereto.
c) Small Industries Development Bank of India (SIDBI)
The Small Industries Development Bank of India (SIDBI) is the principal financial institution for the promotion, financing and development of the Micro, Small and Medium Enterprise (MSME) sector and also co-ordinates the functions of the institutions engaged in similar activities. It was set up on April 2, 1990 under the Small Industries Development Bank of India Act, 1989. It has headquarters in Lucknow, Uttar Pradesh.
Most Upvoted Answer
At present, the responsibility for the provision of finance for Agricu...
D) NABARD, EXIM BANK
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At present, the responsibility for the provision of finance for Agriculture trade and small scale industries has been handed over to_____.a)SBIb)NABARDc)NABARD and SIDBId)NABARD, EXIM BANK & SIDBICorrect answer is 'D'. Can you explain this answer?
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