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Institutional change in agricultural refinance (12 July 1982): Into which institution was the Agricultural Refinance and Development Corporation (ARDC) merged? State the name of the apex development bank. Choose the correct option.

Difficulty: Easy

Correct Answer: NABARD (National Bank for Agriculture and Rural Development)

Explanation:


Given data

  • On 12 July 1982, ARDC was merged into a newly formed apex rural credit institution.


Concept / Approach
NABARD was set up in 1982 as the apex development bank for agriculture and rural development. ARDC’s refinance functions were subsumed into NABARD at inception.


Final Answer
ARDC was merged into NABARD.

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