GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which bank started the first RRB named Prathama Grameen Bank?
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Syndicate Bank
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State Bank of India
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United Bank of India
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Punjab National Bank
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Explanation:
Detailed explanation-1: -Prathama Bank, with head office in Moradabad, Uttar Pradesh was the first RRB. It was sponsored by Syndicate Bank and had an authorised capital of Rs. 5 crore.
Detailed explanation-2: -Regional Rural banks (RRBs) in India were established by Government of India, under provisions of RRBs Act 1976, enacted by the Indian Parliament.
Detailed explanation-3: -Regional Rural Banks (RRBs) were set up under the terms of the 26 September 1975 ordinance and the RRB Act of 1976. First Regional Rural Bank was established on 2 October 1975. The Prathama Bank of Moradabad, Uttar Pradesh was the first RRB.
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