Which of the following statements regarding Regional Rural Banks (RRB) in India is/are correct ? While Regional Rural Banks are meant for rural areas, they can operate in urban areas also. Join now. Answer options - Nationalised Commercial Bank, Reserve Bank of India, State Bank of India, Government of India As on March 31, 2020, there were 45 RRBs functioning in 685 districts of 26 states and 3 UTs. IBPS RRB Recruitment Exam | Regional Rural Banks [State-Wise List] For your convenience, the List of IBPS RRBs (Regional Rural Banks) is classified into the Indian States. A sponsor bank helps RRB by: a) Subscribing to the share capital. Click hereto get an answer to your question ️ Which of the following statements is true or false?a) Initially, 5 regional rural banks were set up in 1970.b) Every regional rural banks is sponsored by a national bank. trepreneurs, ten Regional Rural Banks sponsored by public sector banks have so far been set up. List of Regional Rural Banks – Sponsor Banks & Head Office. Regional rural banks are basically, banking organisation for local level operations across the States in India. Regional Rural Banks are sponsored by - 18821142 1. These Regional Rural Banks (RRBs) have been receiving a high degree of importance and attention in the rural credit system. Add your answer and earn … RRBs are sponsored by Commercial Banks. Join now. Name of Regional Rural Bank Sponsor Bank Head Office; Paschim Banga Gramin Bank: UCO bank: Howrah, West Bengal: Vidharbha Konkan Gramin Bank: Bank of India: Nagpur, Maharashtra: Vananchal Gramin Bank: State Bank of India: Dumka, Jharkhand: Utkal Grameen Bank: State Bank of India: Bolagir, Odisha: Sutlej Gramin Bank : Punjab and Sind Bank: Bathinda, Punjab: Pandyan Grama Bank… Regional Rural Banks (RRBs) are the Indian scheduled commercial government banks operating at regional level in different states of India. In Current Indian Financial … 2. In 1786, Later it was known as State Bank of India. The Objectives of Regional Rural Banks. How Many Banks Are There In India In 2018? Sponsorship of Regional Rural Banks. Please go through the same. Log in. Pallavan Grama Bank with Head Quarters at Salem is operating in 14 districts of Tamilnadu viz., Salem, Namakkal, Krishnagiri, Dharmapuri, Villupuram, Cuddalore, Coimbatore, Karur, Erode, Nilgiris, Vellore, Tiruvannamalai, Kancheepuram and Tiruvallur. The General Bank of India Was The First Bank Estd. Punjab National Bank, State Bank of India, Syndicate Bank, United Bank of India and United Commercial Bank, which sponsored the regional rural banks. Ask your question. Five regional rural banks were set up on October 2 with a total authorized capital of ` 1 crore, which later augmented to ` 5 crore. Reserve Bank of India Started Working in 1935 as The Regulator of Financial System of India. Select the correct answer using the code given below: Nationalized bank are the public sector banks. Banks and Technology. Regional Rural Banks (RRBs) were set up as government-sponsored, regional based rural lending institutions under the Regional Rural Banks Act, 1976. Each Regional Rural Bank is sponsored by a Public Sector Bank. The Regional Rural Banks were started in India back in the 1970s due to the inability of the commercial banks to lend to farmers/rural sectors/agriculture. Each and every regional rural bank in the country in been sponsored by one or the other public sector banks. All the regional rural banks are owned by either central government or state government.Nationalized banks sponsor Regional Banks for greater rural development and availability of basic banking activities in rural areas. Modi, pls reset your finance idea, fire the fin team. Q. IBPS conducts the exam for the recruitment of Officers or Office Assistants in various RRBs. Please find your hometown state and check out which Regional Rural Bank you should opt while filling up the IBPS RRB Online Application Form. An Act to provide for the incorporation, regulation and winding up of Regional Rural Banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and … •An RRB is sponsored by a Public-Sector Bank which also provides a part of its share capital.Example: Maharashtra Gramin Bank (sponsored by the Bank of Maharashtra) and the Himachal Gramin Bank (Sponsored by Punjab National Bank). RRBS can be sponsored by commercial banks ,PSU ,private sector banks with share capital participation by central and state govts 1. Answer: [A] National Commercial Banks Notes: Regional Rural Banks are formed under RRB act. •The committee on Regional Rural Bank headed by M Narasimhan recommended the setting up of RRBs for the purpose of providing rural credit. 21 OF 1976 [9th February, 1976.] Indian Bank has sponsored two Regional Rural Banks (RRBs) viz., Saptagiri Grameena Bank and Pallavan Grama Bank. Providing assistance like loans, advances, insurance to agriculturists for farming inputs, equipment, processing, marketing activities, and cooperative societies helps in the growth of agriculture and the advancement … Regional Rural Banks in Andhra Pradesh (AP) Local Language - Telugu. 1) Bridging the credit gaps in rural areas. 38 crore. Regional rural banks incur net loss of Rs 2,206 crore in FY20. 3) To reduce regional imbalances and increase rural employment generation activities. November 25, 2017 No Comments. Sign Up on Practicemock for Free Tests, General Awareness, Current Affairs, Exam Notifications and Updates . Regional Rural Banks are sponsored by. Public sector banks have also reported that during the last six months they have introduced schemes in the field of agriculture and small scale and cottage in-dustry to assist the implementation of the 20- Point Economic Programme. 3. There were five commercial banks, viz. It is duty of a sponsor bank to aid and assist the RRB sponsored by it. In our Part One of the Banks and Technology Series we spoke about the technologies needed by Public Sector Banks, Private Sector Banks, and Foreign Banks. The area of RRBs is limited to a specific region comprising one or more districts. Log in. Which among the following sponsors Regional Rural Banks(RRBs)? The Institute of Banking Personnel Selection is the body which conducts the IBPS RRB exam across the country and is one of the largest banking sector Organisations in the country. This is a list of RRBs and their Sponsor Banks along with their Head offices. The governance structure/shareholding of RRBs is as follows: Central Government: 50%, State Government: 15% and Sponsor Bank: 35%. In this regard, SBI branches of Assam sanctioned 856 SHGs sponsored by NRLM with financial outlay of Rs. Regional Rural Banks In India are sponsored by Nationalised banks To Expand Banking Services into Rural Areas. 1. Regional Rural Banks assist rural businesses by providing them short- term loans, insurance facilities, etc., and help to improve the role of entrepreneurship in rural areas. The basic aim of setting up the RRBs is to develop rural economy. Regional rural banks were established on 2 oct 1975 under the malegaam committee The share of these bank are in ratio of 50,15 and 35 by central govt,state govt and sponsoring bank resp. Goswami Boy 467 days ago. The Regional Rural Banks in India are the Commercial Banks operating in various rural areas of the country. 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