When was the first Land Mortgage Bank established?

a. 1920

b. 1925

c. 1931

d. 1935

ANSWER: 1920

Explanation:

The Land Development Banks grant medium term loan for Land Development against the mortgage of lands. In some states these banks are known as Land Mortgage Banks. Land Mortgage Bank provides long term credit against the security of mortgage of land for a period of 5 to 20 years. The main objective of Land Development Bank is providing investment credit for agriculture.