Rural Credit Institutions in India

All three institutions provide direct credit assistance to rural households. (1) Regional Rural Banks (RRBs) were established to serve rural areas with localized banking services and agricultural/rural credit. (2) National Bank for Agriculture and Rural Development (NABARD) is the apex institution for agricultural and rural credit, providing both direct lending and refinancing to rural households for agricultural and rural development activities. (3) Land Development Banks (now called Agricultural Development Banks) provide long-term credit for agricultural land development and related activities. All three play complementary roles in extending credit to rural areas at different terms and for different purposes. > India's rural credit system comprises multiple institutions at different levels - RRBs for basic banking, NABARD for apex coordination and specialized lending, and Land Development Banks for long-term agricultural infrastructure credit. Answer: (d).