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REGIONAL RURAL BANKS (RRBs) : EconomicAdvice

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The Regional Rural Banks (RRBs) were first set upon 2 October 1975 (only 5 in numbers) with the aim to take banking services to the doorsteps of the rural masses especially in the remote areas with no access to banking services with twin duties to fulfill

(i) to provide credit to the weaker sections of the society at concessional rate of interest who previously depended on private
money lending, and


(ii) to mobilise rural savings and channelise them for supporting productive activities in the rural areas.The Gol, the concerned state government and the sponsoring nationalised bank contribute the share capital of the RRBs in the proportion of 50 E per cent, 15 per cent and 35 per cent, respectively. the area of operation of the RRB is limited to be notified few districts in a state.

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