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What are regional rural banks?
May 17, 07:05

Regional rural banks (RRB) are rural-arms of the scheduled commercial banks which operate at the rural level. These banks are the rural subsidiaries of the larger commercial banks and are created to serve in the rural and semi-rural areas. The primary goal of the RRBs is to facilitate banking services to the small farmers, agricultural laborers, artisans, people in the rural areas in order to boost financial inclusion. The RRBs operate under the Regional Rural Bank Act of 1976 and were founded on the recommendations of the Narasimham Committee. The jurisdiction of these banks is limited to some villages and districts.

Operations of a rural regional banks