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Question

Consider the following statements about Regional Rural Banks?

I. RRBs were set up on the basis of the recommendations of Narasimham Working Group.

II. First Regional Rural Bank “Prathama Grameen Bank” was set up on 2nd October, 1975.

III. The shareholding of a RRBs is held by the Central Government, State Government and the Sponsor Bank in the proportion of 50:15:35.

Which of the following statement is/are correct

A I Correct Answer Incorrect Answer
B II Correct Answer Incorrect Answer
C III Correct Answer Incorrect Answer
D All are correct Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

  • RRBs are financial institutions which ensure adequate credit for agriculture and other rural sectors.
  • RRBs were set up on the recommendations of the Narasimham Working Group (1975).
  • The first Regional Rural Bank “Prathama Grameen Bank” was set up on 2nd October, 1975.
  • Stakeholders of RRBS is held by the Central Government, State Government and Sponsor Bank in the proportion of 50:15:35.

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