General Knowledge - Indian Economy - Discussion

NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. It also has the mandate to support all other allied economic activities in rural areas, promote integrated and sustainable rural development and secure prosperity of rural areas.

Functions:

1. Providing refinance to lending institutions in rural areas.

2. Bringing about or promoting institutional development and.

3. Evaluating, monitoring and inspecting the client banks.

Dumping means any one of the country produce excess use of their utilisation of their domestic consumer. That excess production dumped into another country. Eg. Sri Lanka is one of the major tea producer in the world, and India also one of the major tea producer. But sri lanka excess production of tea its dumped into India and sell less price than compare to Indian tea PRICE.

As many answered it is really true ARDC means agriculture and rural development corporation. And it merged with NABARD as nabard was purely established to take care of agriculture and its allied activities. Now a days nabard is an apex institution in agricultural financing.

ARDC is Agriculture refinance and development corporation. And EXPORT finance basically included the fund used or required during export and import of goods and services. Many banking sectors and nbfc's used to involve in such kind of funding's.

No Exim bank is not merged with any bank. It is a type of financial institution wholly owned by the Government of India for financing, facilitating, and promote foreign trade of India.

Export-Import Bank of India is the premier export finance institution of the country, set up in 1982 under the Export-Import Bank of India Act 1981.

RBI means reserve bank of India. It is not possible to merge with ARDC because ARDC is a agriculture based corporation.

Dumping means selling a commodity in other country at lower price than in own country.

Now I got the explanation of dumping, EXIM, ARDC. Thank you guys.

ARDC is Agricultural Refinance and Development Corporation.