• Department of Financial Services (DFS), Ministry of Finance has conducted a review meeting of financial performance of RRBs.
  • RRBs were formed under RRB Act, 1976 to provide credit and other facilities to small farmers, agricultural labourers and artisans in rural areas.
  • These were established as per the recommendations of the Narasimham Committee to cater to the rural credit needs of the farming and other rural communities.
  • The Prathama Grameen Bank, sponsored by The Syndicate Bank, was the first bank to be established on 2nd October 1975.
  • RRBs are regulated by RBI and supervised by NABARD.
  • RRBs’ capital is contributed by Government of India, State Government and Sponsor Bank in proportion of 50:35:15.
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