Number of Development Banks in India

Q.  How many developments banks are there in India?
- Published on 16 Feb 17

a. 5
b. 6
c. 7
d. 8

ANSWER: 6
 
There are six development banks are there in India.

They are :
  • ICICI - Industrial Credit and Investment Corporation of India
  • IDBI - Industrial Development Bank of India
  • SIDBI - Small Industries Development Bank of India
  • EXIM Bank - Export-Import Bank of India
  • NHB - National Housing Bank
  • NABARD - National Bank for Agriculture and Rural Development
The National Development Bank is a finance institution, created by a country's government, that provides financing for the purposes of economic development of the country.
  • Provides Long and Short Term Loans
  • Helps in Providing economic growth of the country
  • Provides finance to new business
  • It works on various fields such as agriculture, housing and other sectors
  • It does not accept deposits

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