Previous Year Question
Consider the following events and arrange them in chronological order:
Establishment of NABARD
Self Help Group Bank Linkage Programme
Kisan Credit Card Plan
Establishment of Regional Rural Bank
Select the correct answer from the codes given below.
4, 1, 2, 3
4, 2, 3, 1
1, 2, 3, 4
4, 3, 2, 1
Correct Answer: A
Detailed Solution
4. Establishment of Regional Rural Banks — 1975
Regional Rural Banks began in 1975. The RRB Ordinance was promulgated on 26 September 1975, and the first Regional Rural Banks were established in the same year. RRBs were intended to provide institutional credit particularly to small and marginal farmers, agricultural labourers, artisans and other rural groups.
1. Establishment of NABARD — 1982
The National Bank for Agriculture and Rural Development (NABARD) was established on 12 July 1982 under the NABARD Act, 1981. It took over important agricultural-credit functions of the RBI and refinance functions of the Agricultural Refinance and Development Corporation.
2. Self Help Group-Bank Linkage Programme — 1992
NABARD launched the Self Help Group-Bank Linkage Programme (SHG-BLP) as a pilot programme in 1992-93. It initially sought to link around 500 SHGs with formal financial institutions.
3. Kisan Credit Card Scheme — 1998
The Kisan Credit Card (KCC) Scheme was introduced in 1998 to provide farmers with adequate and timely institutional credit for cultivation and other agricultural requirements. RBI records show the first KCC circular dated 5 August 1998.