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What is Regional Rural Bank in India?
The Regional Rural Banks in India are commercial Banks which are Operating at the Regional Level in the Different States of India. The Government of India has originated these Banks Primarily to Server the Rural Areas of the Country with Banking & Financial Services. However, To Provide You the Comprehensive Information about RRBs In India, we have Prepared the List of Regional Rural Bank in India with their Location of Operations.
Sole Purpose of These banks was to Provide sufficient Credit Convenience to the local farmers for Agriculture and Other Rural Sectors. Regional Rural Banks Plays a Vital Role in the Development of Agriculture and Remote Areas of Country.
List of Regional Rural Bank in India
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History of Regional Rural Banks in India
The Government of India Established the RRBs in 1975 to Support the Weaker section of Rural Areas. On 2 October 1975, Five RRBs were set up in India. However, These RRBs were set up on the recommendation of the Narasimhan committee.
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The First RRB in India was Prathama Bank. It has Its Head office in Moradabad. The Authorised Capital of Prathama Bank was 5 Crore at the time of Starting Up. The Remaining Four RRBs was established in West Bengal, Gorakhpur, Haryana & Rajasthan.
Central Government, State Government, and the Sponsored Banks Jointly Owns the Regional Rural banks in India.
In Conclusion
The Main Purpose Behind the Establishment of RRBs in India was to Provide meet the Credit Demand in Rural Areas. We hope this Article Clears all Your Queries related to the List of Regional Rural banks in India. Above all, If You have any Question related to RRBs, you can share with us in the comments below and We will get back to You.