Can RRB have branches in urban areas?

The RRBs may shift their branches in urban/metropolitan centres within the same locality/municipal ward without the prior approval of Reserve Bank of India. However, they have to obtain an amendment to the licence prior to the shifting.

How RRB develop rural areas?

The RRBs were established “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 other facilities, particularly to small and marginal farmers, agricultural labourers’, artisans and …

Where regional rural banks can open its branches?

Regional Rural Banks are allowed to open/operate mobile branches in all Centres. These mobile branches will not be considered as ‘Banking Outlets’. 9. Setting up of Regional Offices, Administrative Offices, Back Offices (Central Processing Centres/Service Branches) and Call Centres, etc.

Are RRBs scheduled banks?

All commercial banks, including nationalized, international, cooperative, and regional rural banks, fall under scheduled banks.

What is the necessity of regional rural banks in India?

The RRBs are entrusted to cater to the needs of the rural people in the backward regions and bring Financial Inclusion at the primary level. The main objective of the RRBs is to provide credit and other banking facilities to the small, marginal farmers, agricultural laborers, small artisans, etc.

What is the purpose of regional rural bank?

The Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on 26th September, 1975 and Regional Rural Banks Act, 1976 with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive …

What are the objectives of regional rural banks?

The main objective of RRB is to provide credit and other facilities particularly to small and marginal farmers, agricultural laborers, artisian and small entrepreneurs and develop agriculture, trade, commerce, industry, and other productive activities in the rural areas.

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.

Which state has no RRB Bank?

The services of RRBs are not available in the states of Goa and Sikkim. Bihar has second highest number of branches while Nagaland has the least number of branches.