RIDF (Syllabus: GS Paper 3 – Economy)

News-CRUX-10     13th October 2023        
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Context: The Secretary of the Department of Finance Services (DFS) chaired the stakeholder’s meeting on the Rural Infrastructure Development Fund (RIDF) recently.


Rural Infrastructure Development Fund (RIDF)

  • Establishment: The Rural Infrastructure Development Fund (RIDF) was established in 1995-96.
  • Implementing Agency: The National Bank for Agriculture and Rural Development (NABARD) oversees RIDF.
  • Inception: RIDF was introduced within NABARD as part of the Union Budget for 1995-96.
  • Objective: RIDF aims to provide affordable financial support to State Governments and State-Owned Corporations to expedite ongoing projects related to medium and minor irrigation, soil conservation, watershed management, and other rural infrastructure initiatives.
  • Funding: NABARD manages and maintains the fund.


NABARD

  • About: It is an apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India.
  • Establishment: 1982.
  • Ministry: Ministry of Finance, Government of India.
  • Owned by: The Government of India.
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