Question
Download Solution PDFNational Bank for Agriculture and Rural Development (NABARD) was established on the recommendation of which of the following Committee?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- The National Bank for Agriculture and Rural Development (NABARD) was established based on the recommendations of the Sivaraman Committee.
- Dr. B. Sivaraman was the Chairman of the Committee that was set up by the Reserve Bank of India (RBI) to review the arrangements for institutional credit for agriculture and rural development.
- The Committee submitted its report in November 1979, which led to the establishment of NABARD in 1982.
- NABARD is a development bank focusing primarily on the rural sector of India, aiming to provide and regulate credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts, and other rural crafts.
Additional Information
- Santhanam Committee
- The Santhanam Committee, officially known as the Committee on Prevention of Corruption, was set up in 1962 by the Government of India.
- It was chaired by K. Santhanam and was tasked with examining the problem of corruption in government and public sector undertakings.
- The Committee's recommendations led to the establishment of the Central Vigilance Commission (CVC).
- Sarkaria Committee
- The Sarkaria Commission was established in 1983 to review the working of the arrangements between the Union and the states in India.
- It was chaired by Justice R.S. Sarkaria.
- The Committee recommended several measures to improve the relationship and balance of power between the central and state governments.
- Rajamannar Committee
- The Rajamannar Committee, officially known as the Committee on Centre-State Relations, was set up by the Government of Tamil Nadu in 1969.
- The Committee was chaired by P.V. Rajamannar and was tasked with examining the distribution of powers between the central and state governments.
- The Committee's report, submitted in 1971, highlighted the need for greater state autonomy and recommended the establishment of an Interstate Council.
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