Which among the following statement is incorrect regarding Land Development Banks?
[A] They are cooperative institutions
[B] They meet the needs of the farmers for development purposes
[C] They have three tier structures
[D] They grant loans on mortgage security
Show Answer
Correct Answer: C [They have three tier structures ]
Notes:
They have two tier structures1.Primary Land Development Bank at district level with branches at taluka level 2. Control or State Land Development Bank.
All primary Land Development Banks are federated into Central Land Development Bank at the State Level. In some States,like Gujarat , J & K and UP there is Unitary structure wherein, there is only one State Land Development Bank at the state level operating through its branches and sub-branches at district and below levels
