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Rs 12,767 crore to State Co-op Banks and RRBs—By NABARD

Published on May 09, 2020
Current Context: NABARD (National Bank of Agriculture and Rural Development) announced that it has disbursed Rs 12,767 crore in a week at an interest rate of 4.8% to state co-op and regional rural banks to further on-lending to farmers.
Rs 12,767 crore to State Co-op Banks and RRBs—By NABARD
  • The loan is disbursed for a tenor of one year.
  • On April 17, Reserve Bank of India has announced a Rs 50,000 crore refinance facility to NABARD, the Small Industries Development Bank of India (SIDBI), and the National Housing Bank (NHB).
  • Of this Rs, 50,000 crores refinance, NABARD received Rs 25,000 crore for refinancing RRBs, co-operative banks, and Micro Finance Institutions (MFIs).
  • Therefore, NABARD recently disbursed Rs.  12,767 crore for farmers with an aim to relieve tensions on farmers arisen due to lockdown situation amidst of COVID-9 pandemic.

Static Part: 

  • HQ of NABARD: Mumbai, Maharashtra
  • Chairman of NABARD: Harsh Kumar Bhanwala

Question: 

Q.1 Which of the following recently disbursed Rs 12,767 crore in a week at an interest rate of 4.8% to state co-op and regional rural banks to further on-lending to farmers.9?
a. NABARD

b. RBI
c. Ministry of Agriculture and Famers Welfare
d. SIDBI
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