Regional Rural Banks (RRBs) — supervisory responsibility since 1983: To which institution was the RBI’s responsibility for RRBs transferred? Identify the correct apex development bank. Choose the correct option.
General Knowledge
Indian Economy
Difficulty: Easy
Choose an option
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ASmall Industries Development Bank of India (SIDBI)
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BNational Bank for Agriculture and Rural Development (NABARD)
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CIndustrial Development Bank of India (IDBI)
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DExport-Import Bank of India (EXIM Bank)
Answer
Correct Answer: National Bank for Agriculture and Rural Development (NABARD)
Explanation
Given data
- Since 1983, supervisory/oversight functions for RRBs shifted away from RBI.
Concept / ApproachNABARD, established in 1982, is India’s apex development bank for agriculture and rural development; in 1983, responsibility regarding RRBs was transferred to NABARD.
Why others are incorrectSIDBI focuses on MSMEs; IDBI was a development finance institution; EXIM Bank focuses on trade finance.
Final AnswerThe correct institution is NABARD.