The 14th bank to be nationalized in India was: ((MCAER 2014))

✅Explanation: NABARD was established on July 12, 1982, to promote agricultural and rural development in India. It plays a crucial role in providing financial assistance to rural areas.

🔑Key Points:
-NABARD was established on 12th July 1982 by an Act passed by the parliament.
-NABARD is a development bank of the Government of India.
-It was set up with the objective to Foster Rural Prosperity.
-NABARD promotes sustainable rural development through financing or non-financing intervention.
-Major functions of this institution include
-Promotion and Development.
-Financing.
-Refinancing.
-Planning.
-Monitoring and Supervision.
-NABARD focuses on
-Sustainable Agricultural development.
-Small Scale Industries
-Cottage and Village Industries
-Handicraft
-Rural crafts
-Economic Activities in Rural areas.