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.
General Knowledge
Indian Economy
Difficulty: Easy
Choose an option
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ANABARD (National Bank for Agriculture and Rural Development)
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BIDBI (Industrial Development Bank of India)
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CSIDBI (Small Industries Development Bank of India)
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DEXIM Bank (Export-Import Bank of India)
Answer
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 / ApproachNABARD 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 AnswerARDC was merged into NABARD.