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    Question

    Which statement is correct about Regional Rural Banks

    (RRBs)? (A) They are created under RRB Act 1982 (B) A Regional Rural Bank can open branch at any place in India, with prior approval of NABARD. (C) RRBs are exempted from maintaining CRR and SLR
    A Only (C) Correct Answer Incorrect Answer
    B Only (A), (B) & (D) Correct Answer Incorrect Answer
    C Only (A) & (C) Correct Answer Incorrect Answer
    D Only (A) & (D) Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    · 1. Regional Rural Banks were established under the provisions of the RRB Act 1976 to provide sufficient banking and credit facility for agriculture and other rural sectors. · 2. The area of operation of RRBs is limited to the area as notified by Government of India covering one or more districts in the State · 3. There is no exemption to RRBs for maintaining CRR and SLR

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