Many Regional Rural Banks are given licence to open branches in small cities and towns. These licences are given by

BANKING GENERAL KNOWLEDGE

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

A	Cabinet Committee on economic affairs
B	Reserve Bank of India
C	NABARD
D	Indian Banks’ Association

Explanation:

Detailed explanation-1: -9.1 RRBs shall be allowed to open one Regional Office (RO) for every 50 banking outlets. However, RRBs are required to obtain licence from the concerned Regional Office of RBI prior to functioning / opening of these offices.

Detailed explanation-2: -Regional Rural Banks (RRBs) in India are the scheduled commercial banks that conduct banking activities for the rural areas at the state level. As the name suggests, the Regional Rural Banks cater to the needs of the rural and underprivileged people at the regional level across different states in the country.

Detailed explanation-3: -Prathama Bank, with head office in Moradabad, Uttar Pradesh was the first RRB. It was sponsored by Syndicate Bank and had an authorised capital of Rs. 5 crore.

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