Agricultural Credit Laws

Description: This quiz will test your knowledge on Agricultural Credit Laws in India.
Number of Questions: 14
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Which act was enacted to provide short-term credit to farmers for agricultural purposes?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. None of the above


Correct Option: A
Explanation:

The Agricultural Credit Act, 1961 was enacted to provide short-term credit to farmers for agricultural purposes.

Which act was enacted to provide long-term credit to farmers for agricultural purposes?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. None of the above


Correct Option: B
Explanation:

The Agricultural Refinance and Development Corporation Act, 1963 was enacted to provide long-term credit to farmers for agricultural purposes.

Which act was enacted to establish the National Bank for Agriculture and Rural Development (NABARD)?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. None of the above


Correct Option: C
Explanation:

The National Bank for Agriculture and Rural Development Act, 1981 was enacted to establish the National Bank for Agriculture and Rural Development (NABARD).

What is the main objective of NABARD?

  1. To provide short-term credit to farmers

  2. To provide long-term credit to farmers

  3. To promote rural development

  4. All of the above


Correct Option: D
Explanation:

The main objective of NABARD is to provide short-term credit to farmers, provide long-term credit to farmers, and promote rural development.

Which act was enacted to provide debt relief to farmers?

  1. Agricultural Debt Relief Act, 2008

  2. Agricultural Debt Waiver and Debt Relief Scheme, 2008

  3. Agricultural Debt Relief Scheme, 2008

  4. None of the above


Correct Option: A
Explanation:

The Agricultural Debt Relief Act, 2008 was enacted to provide debt relief to farmers.

Which act was enacted to provide a comprehensive framework for agricultural credit?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. Agricultural Credit Framework Act, 2009


Correct Option: D
Explanation:

The Agricultural Credit Framework Act, 2009 was enacted to provide a comprehensive framework for agricultural credit.

What is the main objective of the Agricultural Credit Framework Act, 2009?

  1. To provide short-term credit to farmers

  2. To provide long-term credit to farmers

  3. To promote rural development

  4. To ensure the flow of credit to the agricultural sector


Correct Option: D
Explanation:

The main objective of the Agricultural Credit Framework Act, 2009 is to ensure the flow of credit to the agricultural sector.

Which act was enacted to provide credit to farmers for non-agricultural purposes?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. Agricultural and Rural Development Banks Act, 1981


Correct Option: D
Explanation:

The Agricultural and Rural Development Banks Act, 1981 was enacted to provide credit to farmers for non-agricultural purposes.

Which act was enacted to provide credit to farmers for agricultural and non-agricultural purposes?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. State Cooperative Banks (Amendment) Act, 1981


Correct Option: D
Explanation:

The State Cooperative Banks (Amendment) Act, 1981 was enacted to provide credit to farmers for agricultural and non-agricultural purposes.

Which act was enacted to provide credit to farmers for agricultural and non-agricultural purposes through cooperative societies?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. Cooperative Societies Act, 1912


Correct Option: D
Explanation:

The Cooperative Societies Act, 1912 was enacted to provide credit to farmers for agricultural and non-agricultural purposes through cooperative societies.

Which act was enacted to provide credit to farmers for agricultural and non-agricultural purposes through regional rural banks?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. Regional Rural Banks Act, 1976


Correct Option: D
Explanation:

The Regional Rural Banks Act, 1976 was enacted to provide credit to farmers for agricultural and non-agricultural purposes through regional rural banks.

Which act was enacted to provide credit to farmers for agricultural and non-agricultural purposes through commercial banks?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. Banking Regulation Act, 1949


Correct Option: D
Explanation:

The Banking Regulation Act, 1949 was enacted to provide credit to farmers for agricultural and non-agricultural purposes through commercial banks.

Which act was enacted to provide credit to farmers for agricultural and non-agricultural purposes through microfinance institutions?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. Microfinance Institutions (Development and Regulation) Act, 2011


Correct Option: D
Explanation:

The Microfinance Institutions (Development and Regulation) Act, 2011 was enacted to provide credit to farmers for agricultural and non-agricultural purposes through microfinance institutions.

Which act was enacted to provide credit to farmers for agricultural and non-agricultural purposes through non-banking financial companies?

  1. Agricultural Credit Act, 1961

  2. Agricultural Refinance and Development Corporation Act, 1963

  3. National Bank for Agriculture and Rural Development Act, 1981

  4. Non-Banking Financial Companies (Regulation) Act, 1997


Correct Option: D
Explanation:

The Non-Banking Financial Companies (Regulation) Act, 1997 was enacted to provide credit to farmers for agricultural and non-agricultural purposes through non-banking financial companies.

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