When was the Haryana State Co-operative Agriculture and Rural Development Bank…

2023

When was the Haryana State Co-operative Agriculture and Rural Development Bank Ltd. established?

  1. A.

    January, 1967

  2. B.

    November, 1966

  3. C.

    March, 1980

  4. D.

    January, 1996

Show answer & explanation

Correct answer: B

State Cooperative Agriculture and Rural Development Banks (SCARDBs) are apex, state-level cooperative institutions created to provide long-term credit for land development and agricultural infrastructure to farmers; a new state typically sets up (or spins off) its own apex cooperative-credit institution at, or soon after, its formation, alongside the rest of its administrative machinery.

When Haryana was carved out of the composite Punjab as a separate state on 1 November 1966, it registered (on 17 October 1966) and made operative (from 1 November 1966) its own apex land-credit institution, then named the Haryana State Cooperative Land Mortgage Bank Ltd. This institution was renamed the Haryana State Cooperative Land Development Bank Ltd. in 1974, and later the Haryana State Cooperative Agriculture and Rural Development Bank Ltd. (HSCARDB) — its current name. Hence the bank's founding month and year is November, 1966.

None of the other offered dates match any founding, registration, or renaming milestone recorded in HSCARDB's own institutional history:

  • January, 1967 falls in Haryana's first year as a separate state, but no founding or registration record for this bank carries this month.

  • March, 1980 does not correspond to any founding, renaming, or restructuring event on record for this institution.

  • January, 1996 does not correspond to any founding, renaming, or restructuring event on record for this institution.

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