Agricultural Economics - Study Mode

Explanation

Solution: FSS (Farmers’ Service Societies) was initiated to support farmers by providing financial and technical assistance. It was pioneered by Bawa , who contributed significantly to its development and implementation. NABARD (National Bank for Agriculture and Rural Development) was established in 1982 to promote rural development and finance agricultural activities. It was formed based on the recommendations of the Shivaraman Committee, and B. Shivaraman played a crucial role in its establishment. DRI (Differential Rate of Interest Scheme) was introduced in 1972 to provide low-interest loans to weaker sections of society. The scheme was designed based on the recommendations of M. Narasimhan , who was instrumental in shaping India's banking sector policies. RRB (Regional Rural Banks) were established in 1975 under the RRB Act, 1976, with the aim of providing banking facilities to rural areas. B. K. Hazare played a major role in their implementation by advocating for financial inclusion and rural credit availability.