Explain the functions of NABARD?
Understand the Problem
The question is asking for an explanation of the various functions of NABARD (National Bank for Agriculture and Rural Development). This involves discussing its roles in financing and developing rural and agricultural sectors in India.
Answer
NABARD promotes rural development by providing credit, refinancing banks, and supporting rural projects.
NABARD, the National Bank for Agriculture and Rural Development, functions primarily to promote and develop agriculture and rural sectors in India. Its functions include providing credit and financial services, refinancing banks, supporting rural development projects, and monitoring the progress of rural development activities.
Answer for screen readers
NABARD, the National Bank for Agriculture and Rural Development, functions primarily to promote and develop agriculture and rural sectors in India. Its functions include providing credit and financial services, refinancing banks, supporting rural development projects, and monitoring the progress of rural development activities.
More Information
NABARD plays a crucial role in the development of rural India by facilitating the flow of credit and strengthening rural finance. It is also involved in policy formulation for agriculture and rural development.
Tips
A common mistake is failing to note the broad scope of NABARD's functions beyond just refinancing. It also includes development and supervision activities.
Sources
- Functions of NABARD By Unacademy - unacademy.com
- NABARD: Functions, Roles & Achievements - Jagran Josh - jagranjosh.com
- What are the functions of NABARD? - GeeksforGeeks - geeksforgeeks.org
