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Consider the following statements:
1. Regional Rural Banks grant direct loans and advances to marginal farmers and rural artisans.
2. NABARD is responsible for laying down policies and to oversee the operations of the RRBs.
Which of the statements given above is/are correct?
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- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Correct Option: C
National Bank for Agriculture and Rural Development NABARD is an apex development bank in India. It was established on 12 July 1982 in sixth five year plan and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture and rural non farm sector and laying down policies and to oversee the operations of the RRBs Moreover Regional Rural Banks grant direct loans and advances to marginal farmers and rural artisans. So both statements are correct.
