Nabard was established by an act in which five year plan
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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.
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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.
To learn more about Nabard:
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