BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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pay interest up to 9%
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waive incident charges
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pay interest as applicable to savings accounts
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pay interest as such rates as may be mutually agreed to
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Detailed explanation-1: -Regional Rural Banks are sponsored by any commercial bank, PSU or private bank. The central government, sponsor bank, and state government have share capital in the ration of 50:35:15.
Detailed explanation-2: -Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance, Government of India. They were created to serve rural areas with basic banking and financial services.
Detailed explanation-3: -RRBs are regulated by NABARD. Other banks are regulated by RBI directly.
Detailed explanation-4: -4 How are RRBs different from commercial banks? Ans. 4 The RRBs provide banking and credit facilities to the rural areas of the country, while the commercial banks are responsible to provide agricultural loans along with housing, car, and other loans and utility services.