The correct answer is: A. RBI
The Agricultural Refinance and Development Corporation (ARDC) was merged with the Reserve Bank of India (RBI) on July 12, 1982. The ARDC was established in 1963 to provide refinance to commercial banks for agricultural loans. The RBI is the central bank of India and is responsible for regulating the country’s monetary and financial system.
The ARDC was merged with the RBI to improve the efficiency of the agricultural credit system in India. The merger also allowed the RBI to better monitor and control the flow of credit to the agricultural sector.
The merger of the ARDC with the RBI was a positive development for the agricultural sector in India. The merger has helped to improve the efficiency of the agricultural credit system and has made it easier for farmers to access credit.
The RBI is a statutory body established under the Reserve Bank of India Act, 1934. The RBI is responsible for the following functions:
- Conducting the monetary policy of the country
- Regulating the banking system
- Promoting the development of the financial system
- Maintaining financial stability
- Providing financial services to the government and to the public
The RBI is governed by a central board of directors, which is appointed by the government of India. The RBI is headed by a governor, who is appointed by the government of India on the recommendation of a search committee.
The RBI is a powerful institution and plays a key role in the Indian economy. The RBI’s policies have a significant impact on the growth and stability of the Indian economy.