Reserve Bank
Reserve Bank, as the regulator of Regional Rural Banks (RRBs), has been actively engaged from the very beginning in the review, examination and evaluation of customer service in RRBs by means of various guidelines issued from time to time to the RRBs.
Which bank controls RRB?
List of RRBs Functioning in the Country
| Sr. No. | Name of Regional Rural Bank | Sponsor Bank |
|---|---|---|
| 1 | Andhra Pradesh Grameena Vikas Bank | State Bank of India |
| 2 | Andhra Pragathi Grameena Bank | Syndicate Bank |
| 3 | Arunachal Pradesh Rural Bank | State Bank of India |
| 4 | Aryavart Bank | Bank of India |
Is RRB a govt bank?
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. They were created to serve rural areas with basic banking and financial services.
What is difference between RRB and cooperative bank?
The RRBs mobilize deposits primarily from rural/semi-urban areas and provide loans and advances mostly to small and marginal farmers, agricultural labourers , rural artisans and other segments of priority sector. The co-operative banks are small-sized units which operate both in urban and non-urban centers.
Who is the regulator of regional rural banks in India?
RBI is regulating the entire banking system – All the banks (Public sector, Private sector and RRBs) in India. NABARD (National Bank For Agriculture & Rural Development) is responsible for the overall Supervision and Inspection of the RRBs in India.
When was the Regional Rural Banks Act passed?
Considering the recommendations of the committee the Government of India passed Regional Rural Banks Act 1976. After passing the Act within a year at least 25 RRBs were established in different parts of India.
Who are the sponsors of a Regional Rural Bank?
Each Regional Rural Bank is sponsored by a Public Sector Bank. A sponsor bank in relation to a Regional Rural Bank is a Bank by which such a RRB is sponsored. It is duty of a sponsor bank to aid and assist the RRB sponsored by it. a) Subscribing to the share capital.
How are regional rural banks ( RRBs ) covered under DICGC?
Regional Rural Banks may also seek refinance facilities provided by NABARD for the loans sanctioned and disbursed by them. All the RRBs are covered under DICGC scheme and they are also required to observe the RBI stipulations for Cash Reserve Ratio and Statutory Liquidity Ratio.
