With a view to improving the performance of RRBs and giving more powers and flexibility to their boards in decisionmaking, the Reserve Bank had constituted task force on empowering the RRB Boards for Operational Efficiency. The task force was headed by

BANKING GENERAL KNOWLEDGE

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

A	KG Karmakar
B	SS Tarpore
C	Rangarajan
D	None of the above

Explanation:

Detailed explanation-1: -Ans. The main improvement strategies for Regional Rural Banks are to make them more autonomous, increase their authorised capital, provide adequate financial assistance, and reduce the cost of operations.

Detailed explanation-2: -The Pradhan Mantri Jan Dhan Yojana (PMJDY) and National Strategy for Financial Inclusion (NSFI) 2019-2024 has given a further fillip to these efforts.

Detailed explanation-3: -RRBs have performed well in FY 2021-22. The consolidated net profit increased by 91% to Rs. 3, 219 crore with some of the RRBs reporting net profit after about 5 years of consecutive losses.

Detailed explanation-4: -The Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on 26th September 1975 and Regional Rural Banks Act, 1976. RRBs are financial institutions which ensure adequate credit for agriculture and other rural sectors.

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