Question

Nabard was established by an act in which five year plan

Answer 1

NABARD was established on the recommendations of B.Sivaraman Committee, (by Act61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.

Answer 2

NABARD was established in the sixth-five year plan.

Explanation:

• However, it was established in the year 1982 on 12th July on recommendations of B. Sivaram Committee (by Act 61, 1981 of Parliament).
• The plan basically aimed at implementing National Bank for Agriculture and Rural Development Act 1981.
• The two active departments — Agricultural Refinance and Development Corporation and State Bank of India — are replaced by this five year plan.
• The creation of NABARD successfully served the purpose of specialized banks for Rural and Agricultural Development and stand as a robust medium.

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