Consider the following statement and state which among those is/are correct? Regional rural banks in India.....begin{enumerate}item Are required to assist the weaker sectionsitem Are to help small and marginal farmers onlyitem Have free access to liberal financial assistance from NABARDitem Have a limited area of operationend{enumerate}

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Consider the following statement and state which among those is/are correct? Regional rural banks in India____

A	1, 3 and 4
B	Only 2
C	2 and 3
D	1 and 4

Explanation:

Detailed explanation-1: -Detailed Solution. The correct answer is Option 2. Rural India: More than 70% of all Indians live in villages.

Detailed explanation-2: -Regional Rural Banks (RRBs) were established on the recommendations of the Narsimham Committee in 1975. The basic objective was to further the goal of financial inclusion and extend credit and other banking facilities to rural areas so as to ensure overall rural development. Was this answer helpful?

Detailed explanation-3: -These were set up as government-sponsored, regional based rural lending institutions under the Regional Rural Banks Act, 1976. Mission of RRBs is to fulfil the credit needs of the relatively unserved sections in the rural areas, small and marginal farmers, agricultural labourers and socio-economically weaker sections.

Detailed explanation-4: -The Regional Rural Banks or RRBs are commercial banks in India. These banks are empowered to conduct financial transactions to promote growth and development in rural areas. These are commercial scheduled banks. These banks operate on a regional level and cater to the underprivileged masses.

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