Arrange the events related to rural credit in the chronological order.
A. Setting up of NABARD as an apex body for rural financial system.
B. Kudumbashree programme implemented in Kerala.
C. Green Revolution initiates diversification of rural credit portfolio.
D. India adopts social banking and multiagency approach.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → C, D, A, B
Each event with its date:
C. Green Revolution initiates diversification of rural credit portfolio — first phase from about the mid 1960s. Rural credit moved towards production-oriented lending.
D. India adopts social banking and multiagency approach — after 1969.
A. Setting up of NABARD as an apex body for rural financial system — 1982. NABARD is the National Bank for Agriculture and Rural Development.
B. Kudumbashree programme implemented in Kerala — 1995, when a thrift and credit society for poor women was started.
NCERT (2026-27): “5.3 Credit and Marketing in Rural Areas … At the time of independence, moneylenders and traders exploited small and marginal farmers and landless labourers by lending to them on high interest rates and by manipulating the accounts to keep them in a debt-trap. A major change occurred after 1969 when India adopted social banking and multi-agency approach to adequately meet the needs of rural credit. Later, the National Bank for Agriculture and Rural Development (NABARD) was set up in 1982 as an apex body to coordinate the activities of all institutions involved in the rural financing system. The Green Revolution was a harbinger of major changes in the credit system as it led to the diversification of the portfolio of rural credit towards production-oriented lending.… Box 5.1: The Poor Women’s Bank ‘Kudumbashree’ is a women-oriented community-based poverty reduction programme being implemented in Kerala. In 1995, a thrift and credit society was started as a small savings bank for poor women with the objective to encourage savings.…” NCERT (2026-27), chapter ‘Indian Economy 1950-1990’: “The Green Revolution: … The farmers who could benefit from HYV seeds required reliable irrigation facilities as well as the financial resources to purchase fertiliser and pesticide. As a result, in the first phase of the green revolution (approximately mid 1960s upto mid 1970s), the use of HYV seeds was restricted to the more affluent states such as Punjab, Andhra Pradesh and Tamil Nadu.…” |