Explanation:

The correct answer is option 'C' - NABARD (National Bank for Agriculture and Rural Development).

NABARD is the apex bank for agriculture credit in India. It was established on 12 July 1982 by a special act of the parliament. The main objective of NABARD is to provide and regulate credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts, and other rural crafts.

Key Points:
- Apex Bank: NABARD is considered the apex bank for agriculture credit in India.
- Establishment: It was established on 12 July 1982.
- Special Act: NABARD was established by a special act of the parliament.
- Objective: The main objective of NABARD is to provide and regulate credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts, and other rural crafts.

Functions of NABARD:

1. Credit Functions:
- NABARD provides credit facilities to various institutions involved in agricultural and rural development activities.
- It refinances the credit provided by commercial banks, cooperative banks, and regional rural banks.
- It also provides direct lending facilities to eligible institutions.

2. Development Functions:
- NABARD promotes and develops innovative financial products and services for agriculture and rural development.
- It provides financial assistance for the establishment of rural infrastructure projects.
- It supports research and development activities in agriculture and rural development.

3. Supervisory Functions:
- NABARD supervises the functioning of cooperative banks and regional rural banks.
- It conducts inspections and audits to ensure the proper functioning of these institutions.

4. Other Functions:
- NABARD acts as a coordinator and facilitator for rural credit institutions.
- It provides training and capacity building programs for the staff of various institutions involved in rural development.

Conclusion:

NABARD is the apex bank for agriculture credit in India. It plays a crucial role in providing credit and other facilities for the promotion and development of agriculture and rural areas.