How many developments banks are there in India?

a. 5

b. 6

c. 7

d. 8

ANSWER: 6

Explanation:

There are six development banks are there in India.

They are :

ICICI - Industrial Credit and Investment Corporation of India

IDBI - Industrial Development Bank of India

SIDBI - Small Industries Development Bank of India

EXIM Bank - Export-Import Bank of India

NHB - National Housing Bank

NABARD - National Bank for Agriculture and Rural Development

The National Development Bank is a finance institution, created by a country's government, that provides financing for the purposes of economic development of the country.

Provides Long and Short Term Loans

Helps in Providing economic growth of the country

Provides finance to new business

It works on various fields such as agriculture, housing and other sectors

It does not accept deposits