The Regulatory Authority for Regional Rural Banks is

BANKING GENERAL KNOWLEDGE

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

A	Sponsor Bank
B	Central Government
C	State Government
D	RBI and NABARD

Explanation:

Detailed explanation-1: -NABARD is entrusted with the responsibility for conduct of statutory inspections of State Cooperative Banks, District Central Cooperative Banks and Regional Rural Banks under the Banking Regulation Act, 1949/(AACS). The regulatory powers continue to be vested with the Reserve Bank of India.

Detailed explanation-2: -RRBs are required to obtain necessary licence prior to the opening of an office/branch from the concerned Regional Office of RBI (RPCD).

Detailed explanation-3: -Indira Gandhi on 05 November 1982. Set up with an initial capital of Rs.100 crore, its’ paid up capital stood at Rs.17, 080 crore as on 31 March 2022. Consequent to the revision in the composition of share capital between Government of India and RBI, NABARD today is fully owned by Government of India.

Detailed explanation-4: -The Reserve Bank of India (RBI) and the NABARD (National Bank for Agricultural and Rural Development) are the two prime regulators of the RRBs in India. RBI: The RBI Act of 1934 and the Banking Regulation Act 1949 are the two main regulating statutes for commercial banks in India.

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