BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Central Government
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State Government
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Sponsor Bank
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All of the above
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Detailed explanation-1: -The ownership of RRBs as per the Act is Central government (50%), State government (15%), and Sponsor bank (35%). RBI has no ownership of RRBs.
Detailed explanation-2: -RRBs are jointly owned by Government of India(GOI), Sponsor Bank and the concerned State Government and with share proportion 50%, 35% & 15% respectively.
Detailed explanation-3: -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-4: -As on 31.03. 2022, SBI is having 14 sponsored RRBs with a network of 4725 branches spread across 217 districts.