Question

NABARD was established by an Act of Parliament.
A. True
B. False

Answer 1

Hint:
The full form of NABARD is National Bank for Agriculture and Rural Development. It is an apex finance institution which is fully owned by the Government of India. NABARD was established on 12 july, 1982.

Complete answer:
NABARD was established by an act of parliament. It was established on the recommendations of B. Sivaraman committee to implement the National Bank for Agriculture and Rural Development Act 1981. It provides developmental credit in rural areas. It is a specialized bank for Rural and agricultural development in India.

Therefore the correct answer is True

Note:
NABARD promotes rural, social innovations and social enterprises in the rural hinterlands. NABARD has 32 regional offices in the country. It looks after the cottage industry, small scale industry, village industry and other rural industries. It refinances those financial institutions which provide financial help to the rural economy. It also provides training facilities to the employees who work in rural financial institutions. It regulates the cooperative banks and RRBs throughout the entire India.
This question is based on concepts of financial institutions in India. Students should learn all types of financial institutions and their role in development of India. Students might get confused about constitutional bodies and non-constitutional bodies. As NABARD is established by an act of parliament , so it is a constitutional body.