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The Regional Rural Banks, or RRBs, are the third layer of commercial banking organization, after commercial and cooperative banks. The RRBs were established as per the recommendations of the Narasimham Committee to cater to the rural credit needs of the farming and other rural communities.
- The Regional Rural Banks are the scheduled commercial banks that conduct banking activities for the rural areas at the state level.
- The Prathama Grameen Bank was the first bank to be established on 02nd October 1975.
- The RBI and NABARD are responsible to regulate the Regional Rural Banks in India.
- The RRBs provide banking and credit facilities to the rural areas of the country, while the commercial banks are responsible to provide agricultura...
- Presently, 43 Regional Rural Banks in India are operational.
Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance, Government of India, Sponsored Bank and concerned State Government in the ratio of 50:35:15 respectively.
- Regional Rural Banks
- Regional Rural Banks Functions
- Regional Rural Banks Achievements
- Regional Rural Banks Reforms Needed
- Regional Rural Banks in India
- Difference Between RRBs & Commercial Banks
- Regional Rural Banks UPSC
Regional Rural Banks (RRBs) are financial institutions in India that are designed to provide banking services in rural areas. They were established under the Regional Rural Banks Act of 1976, with the aim of bringing banking services closer to rural and agricultural communities and promoting rural development. RRBs are structured as scheduled comme...
The functions of Regional Rural Banks (RRBs) can be summarized as follows: Read about: Public Sector Banks
RRBs have played a crucial role in providing credit to the agricultural sector, which is vital for rural development. As of March 2021, RRBs had a total agricultural credit outstanding of over Rs. 2.4 lakh crore (approximately USD 32.7 billion). Also, RRBs have supported rural entrepreneurship and small businesses, contributing to employment genera...
Several committees have been constituted to recommend reforms for Regional Rural Banks (RRBs). Here are recommendations of some notable committees:
The primary goal of the introduction of RRBs in India was to comfort those residing in rural areas by giving them access to all necessary banking resources and services. The list of regional rural banks in India is broken down by state, along with information about their sponsor banks and corporate headquarters: Candidates who wish to submit an onl...
Major distinctions between regional rural banks and commercial banks are mentioned below in terms of their goals, areas of focus, stakeholder participation, etc.
To prepare for topics like RRBs, one can focus on the Economy section of the UPSC Syllabus, utilize UPSC Online Coaching for comprehensive courses, and take UPSC Mock Testfor exam practice. It is important to study RRBs’ functions, challenges, achievements, and reforms within the context of the Indian Economy. Also, is it important that one stays u...
Jun 6, 2020 · Regional Rural Banks or RRBs are government banks operating at regional level in different states of India. These are designed to cater the needs of the rural area people. Regional Rural Banks commercial banks which helps to bring the financial inclusion in the primary level of the nation.
Jan 23, 2024 · What are Regional Rural Banks (RRB)? Regional Rural Banks are a form of commercial banks which functions at the regional level. The major stakes of these banks are owned by the government. These banks mostly cater the loans and financial support for rural people, small farmers, small artisans, and people with unorganized employment in rural area.
Regional Rural Banks (RRB) were established as government-sponsored, regional based rural lending institutions to balance the economic development and equally distribute banking in the urban and rural areas of India.
Apr 16, 2016 · Regional Rural Banks (RRBs) were set up as government-sponsored, regional based rural lending institutions under the Regional Rural Banks Act, 1976. RRBs were configured as hybrid micro banking institutions, combining the local orientation and small scale lending culture of the cooperatives and the business culture of commercial banks.
