Which of the following statements is true?

1. Money lenders and traders exploited small and marginal farmers by lending to them on high interest rates and manipulating the accounts to keep them in debt trap.
2. A major change was witnessed in the year 1969, when India adopted private lending system.
3. To further coordinate the activities of all institutions involved, NABARD was set up in year 1982.

1 and 3

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 multiagency 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.