The National Bank for Agriculture and Rural Development (NABARD) is a top-level development financial institution in India, established in ___ to provide agricultural and rural credit.
The correct answer is In 1982.
- The National Bank for Agriculture and Rural Development (NABARD) is a top-level development financial institution in India, established in 1982 to provide agricultural and rural credit.
Key Points
- National Bank for Agriculture and Rural Development (NABARD) is the apex institution of Rural Credit.
- It was established on 12 July 1982 by the merger of Agriculture Credit Department and reconstruction of Agriculture and Development Corporation of the Reserve Bank of India.
- Its establishment is based on the recommendations of Shivraman Committee.
- Food stocks are maintained by the Central Government for three purposes:
- Maintaining prescribed buffer stock norms for food security,
- Monthly supply through Public Distribution System (PDS),
- Market intervention to stabilise open market prices.

