| Consider the following: |
| 1. Rural Infrastructure development fund is managed by RBI. |
| 2. The fund was set up in 1995-96 for providing loans to state governments and state owned corporations. Which of these statements is/are correct? |
A) Only 1
B) Only 2
C) Both 1 and 2
D) neither 1 nor 2
Correct Answer: B
Solution :
[b] Rural Infrastructure Development Fund (RIDF) was instituted in NABARD with an announcement in the Union Budget 1995-96 with the sole objective of giving low cost fund support to State Governments, and State Owned Corporations for quick completion of ongoing projects relating to medium and minor irrigation, soil conservation, watershed management and other forms of rural infrastructure. To support agricultural sector with the help of effective and hassle-free agricultural credit with special focus on small and marginal farmers, Finance Minister Arun Jaitley has proposed to allocate Rs. 25,000 crore in 2015-16 to the corpus of rural infrastructure development fund set up by NABARD.
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