NABARD Current Affairs Quiz: 30 September 2026

This is the full amount sanctioned for buying pulses and oilseeds at minimum support price in Uttar Pradesh, Karnataka and Telangana together for the kharif marketing season of 2026-27.

For marketing season 2027-28 the floor price of safflower was raised by Rs 675 a quintal, the biggest rupee increase among the six mandated rabi crops.

The new Act carries the same name with the new year and takes the place of the colonial-era statute, which was framed at a time when banking systems were entirely paper-based.

It was allotted Rs 3,992.57 crore of the sanction, the largest of the three state shares, almost all of it for tur: 4,66,000 metric tonnes worth Rs 3,937.70 crore, along with 6,250 metric tonnes of moong worth Rs 54.87 crore.

The expected return over the all-India weighted average cost of production works out to 106 per cent for wheat, the highest among the six mandated rabi crops of the season.

The backgrounder states plainly that the Act comes into force on that date and replaces the older law of the same name from then.

The sanction covers pulses and oilseeds only, and paddy is a cereal bought through a separate central pool arrangement rather than through the Price Support Scheme.

The rabi price revision for marketing season 2027-28 was described as being in line with the announcement made in that Budget, which set the benchmark of fixing a floor price at no less than one and a half times the all-India weighted average cost of production.

The Act allows the contents of a banker's book to be proved by a certified copy without producing the original, so an officer is not ordinarily compelled to appear, and it protects officers from routine appearance where the bank is not a party.

Wheat bought at the floor price over the years from 2014-15 to 2025-26 added up to that quantity.

The Act states that it will be used in any legal proceeding, in arbitration, and in any investigation or inquiry under that Sanhita or under any other law for the time being in force, wherever evidence is or may be taken.