BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Providing credit to semi-urban & urban population
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Providing deposits facilities to farmers
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Providing credit & deposit facilities to rural areas
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Providing credit, deposit and other banking facilities to people in rural areas
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Detailed explanation-1: -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-2: -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-3: -National Bank for Agriculture and RuralDevelopment (NABARD) was established on 12 July 1982 by an Act of theParliament.
Detailed explanation-4: -RRBs were supposed to evolve as specialised rural financial institutions for developing the rural economy by providing credit to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs.
Detailed explanation-5: -NABARD: It is the chief body set up for the regulation of the rural banking sector in India. It was established on 12th July 1982 with an objective to improve the flow of funds from the urban areas to semi-urban and rural parts of the country.