RAS question
NABARD stands for:
Correct answer: (C) National Bank for Agriculture and Rural Development.
NABARD stands for National Bank for Agriculture and Rural Development.
Explanation
NABARD expands to National Bank for Agriculture and Rural Development, as stated on the official NABARD website. The expansion matters because it identifies the institution's legal and functional character: it is a national bank, not a bureau or board, and its mandate is tied to agriculture and rural development. Standard exam context also matters: NABARD was established on 12 July 1982 on the recommendation of the B. Sivaraman Committee, and it functions as the apex development bank for agriculture, rural development, cottage and village industries, and small-scale industries. For RAS, the key is to remember both the exact expansion and the institution's place in rural-credit architecture.
Why the other options are wrong
- (A) Option A is wrong because the initial N in NABARD stands for National, not New.
- (B) Option B is wrong because NABARD is identified as a bank, not a bureau.
- (D) Option D is wrong because NABARD is not a board, and the expansion refers to Agriculture and Rural Development rather than Agricultural Research and Development.
Concept
This tests basic institutional terminology in the Indian Economy syllabus, especially rural credit and development finance. It recurs in RAS because exact expansions often anchor questions on mandates, committees, and apex financial institutions.