Question

In 1970 RBI set up which committee to review rural credit system

Answer 1

Answer:

All India Rural Credit Review Committee

Answer 2

In 1970 RBI set up which committee to review rural credit system All India Rural Credit Review Committee (Venkatappiah Committee).

Explanation:

• The All India Rural Credit Review Committee (Venkatappiah Committee) was established in July 1970.
• To examine the progress made in the supply of credit for intensive agricultural production and marketing from all institutional sources, including commercial banks, the operation of the crop loans system, the progress of commercial banks' rural branches, and coordination between various agencies involved in rural credit.
• The Committee issued its findings in July 1969, admitting that co-operatives would need to be developed, but emphasised that they would be all the better, and the farmer would be better served, if other institutions coexisted alongside them in healthy competition.