BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sponsor banks travellers cheques can be issued by RRBs
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RRBs can enter into arrangements with the sponsor banks for providing remittance facilities to its customers
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Where RRBs can afford the investment, they can install lockers also
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All of the above
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Detailed explanation-1: -The correct option is B 3 only. Explanation: RRB’s are special types of commercial Banks that provide concessional credit to agriculture and the rural sector. RRBs were established in 1975 and are registered under a Regional Rural Bank Act, 1976.
Detailed explanation-2: -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-3: -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.