National Bank for Agriculture and Rural Development (NABARD) is an apex development finance institution?

Correct option is B

· NABARD was established on 12 July 1982.
· It was formed based on the recommendations of the Shivaraman Committee.
· It took over the functions of:
· Agricultural Credit Department of RBI.
· Refinance functions of ARDC (Agricultural Refinance and Development Corporation).
· Ownership:
· Initially jointly held by RBI and GoI.
· Since 2018, NABARD is fully owned by the Government of India.
· Functions:
· Refinance to rural financial institutions.
· Development of rural infrastructure.
· Financial inclusion.