NABARD and Exim Bank

Correct option is (4). NABARD was set up with an initial capital of 100 crore. Consequent to the revision in the composition of share capital between Government of India and RBI, the paid up capital as on 31 March 2015, stood at 5000 crore with Government of India holding 4,980 crore (99.60%) and Reserve Bank of India 20.00 crore (0.40%).

NABARD was established on July 12, 1982, following the recommendations of the B. Sivaraman Committee to oversee agricultural credit.

Local Area Banks (LABs) are established in the private sector and are included in the second schedule of the Reserve Bank of India. The claim that provisions applicable to Regional Rural Banks (RRBs) apply to Local Area Banks is incorrect, as they are governed by different regulatory frameworks.

The Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development (CRAFICARD), chaired by B. Sivaraman, recommended the creation of NABARD.

The B. Sivaraman Committee, officially known as the Committee to Review Arrangements for Institutional Credit for Agriculture and Rural Development, directly led to the formation of NABARD.

NABARD was established on the recommendations of the B. Sivaraman Committee by merging the Agriculture Credit Department of RBI, the Agriculture Refinance and Development Corporation (ARDC), and the Rural Planning and Credit Cell of RBI. All three listed entities were involved.

Manipal Local Area Bank is not one of the original or currently recognized Local Area Banks in the context of the three main ones often cited in banking exams.

NABARD is an apex bank for rural development and provides refinance. However, it is authorized to raise funds from abroad, making statement 3 incorrect.

The fund established by NABARD for rural infrastructure is named after Loknayak Jaiprakash Narayan.

The Micro Finance Development and Equity Fund was set up with an initial corpus of Rs. 200 crore.

NABARD Consultancy Services (NABCONS) is a wholly owned subsidiary of NABARD, established to provide consultancy services in the agriculture and rural development sectors.

The interest rate for refinance on Agri-Business Centres and Clinics is set by NABARD policy, which was historically 5.50%.

The Export-Import Bank of India (Exim Bank) has its headquarters in Mumbai.

The Micro Finance Development Fund was renamed the Micro Finance Development and Equity Fund to reflect its expanded scope.

The paid-up capital of the Exim Bank is historically cited as Rs. 499.99 crore in various financial reports.

The Government of India holds 100% of the paid-up capital of the Exim Bank, as it is a government-owned financial institution.

NABARD does not handle the micro-management of Regional Rural Banks (RRBs); that is the responsibility of the sponsor banks and the RBI's regulatory framework.

Business units are generally not classified under the specific non-farm activities eligible for NABARD refinance in the same way as SSI, transport, or hospitals.

Exim Bank provides loans to Indian exporters and promotes trade, but it does not typically provide direct loans to foreign governments or foreign banks in the manner suggested in statement 1.