Which is correct regarding agricultural sector of India 1 Rural Infrastructure Development Fund disp...........

Economic Affairs Agricultural Finance

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Which is correct regarding agricultural sector of India?

1. Rural Infrastructure Development Fund disperses loans to the states to complete minor irrigation projects

2. RIDF is managed by public sector commercial banks.

1 only

2 only

BOTH

NONE

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Explanation:

2nd statement is incorrect.

The RIDF was set up by the Government in 1995-96 for financing ongoing rural Infrastructure projects. The Fund is maintained by the National Bank for Agriculture and Rural Development (NABARD). Domestic commercial banks contribute to the Fund to the extent of their shortfall in stipulated priority sector lending to agriculture.