Which among the following was set up as an apex body to coordinate the activities of all institutions involved in the rural financing system?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → National Bank for Agriculture and Rural Development
NABARD was established on July 12, 1982, under the NABARD Act, 1981, as India's apex development financial institution specifically for agriculture and rural development. It coordinates the operations of rural credit institutions (such as cooperative banks, regional rural banks, and commercial banks), provides refinance facilities, supervises these institutions, and formulates policies to enhance credit flow to rural areas.