NABARD Infused Rs 1.46 lakh Crore in Rural Banking

Published on March 03, 2020
Current context: National Bank for Agriculture and Rural Development (NABARD) has infused 1.46 lakh crore rupees in the rural banking system during the current fiscal.
NABARD Infused Rs 1.46 lakh Crore in Rural Banking
  • As per the NABARD statement released on 3rd March 2020, the distribution of the infused amount is as follow:
    1. 66,397 crore rupees have been given in short-term credit to rural cooperative banks
    2. 6,704 crore rupees have been given in long-term credit to rural cooperative banks
    3. Regional rural banks have availed 14,141 crore rupees in short-term credit
    4. Regional rural banks have availed 8,417 crore rupees in long-term credit
  • Other banks, including small finance banks, have obtained long-term refinance of 37,895 crore rupees.
  • NABARD has been extending financial support to the banks operating in rural areas to help them deploy their resources effectively for meeting the credit needs of rural people, including farmers.
  • The long term credits are aimed at supporting sectors like dairy, poultry, fishery, farm mechanisation, irrigation, and non-farm sector.
  • NABARD is also directing its resources to increase institutional credit to rural sectors through non-banking financial institutions (NBFCs) by extending Rs 4,638 crore to NBFCs and MFIs so far in FY20.
  • NABARD Chairperson: Harsh Kumar Bhanwala
  • NABARD Headquarters: Mumbai

Question: 

Q.1 National Bank for Agriculture and Rural Development (NABARD) has infused Rs _________ in the rural banking system during the current fiscal.
a. 1.46 lakh crore
b. 1.49 lakh crore
c. 2.1 lakh crore
d. 2.5 lakh crore

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