Correct option is D
National Bank for Agriculture and Rural Development (NABARD), established in 1982, is the apex institution overseeing agricultural and rural development financing in India. NABARD is responsible for promoting sustainable and equitable agricultural growth through the provision of financial and non-financial assistance. It coordinates with various financial institutions such as co-operative banks and regional rural banks (RRBs) to enhance agricultural credit and implement rural development programs.
Key functions of NABARD include:
Refinancing and funding support: NABARD provides refinance to rural financial institutions like RRBs and cooperative banks to ensure they have adequate funds to support agricultural loans.
Rural Infrastructure Development: NABARD administers the Rural Infrastructure Development Fund (RIDF), which finances rural infrastructure projects, including irrigation, rural roads, and market yards.
Supervisory role: NABARD supervises cooperative banks and RRBs, ensuring they adhere to prudent banking practices and standards.
Direct lending and project financing: NABARD also offers direct lending for larger projects in the agriculture and rural sectors, particularly for initiatives like watershed development, micro-irrigation, and sustainable farming practices.
