Option 1: The Reserve Bank of India (RBI) is the central banking institution of India. While the RBI plays a crucial role in regulating and supervising the financial system in India, it is not directly involved in promoting the concept of Self-help groups (SHGs) for financing the poor. Therefore, option 1 is incorrect.
Option 3: The Union Ministry of Rural Development is responsible for the implementation of various rural development programs and policies in India. While it may support and facilitate the promotion of Self-help groups (SHGs), it is not primarily responsible for promoting the concept. Therefore, option 3 is incorrect.
Option 4: The Union Ministry of Labour focuses on issues related to labor welfare, social security, and employment in India. It is not directly involved in promoting the concept of Self-help groups (SHGs) for financing the poor. Therefore, option 4 is incorrect.
Option 2: The correct answer is option 2, NABARD (National Bank for Agriculture and Rural Development). NABARD plays a significant role in promoting the concept of Self-help groups (SHGs) for financing the poor. It provides financial assistance, training, and support to SHGs, enabling them to become self-sustainable. NABARD also