The board may, after consultation with the 7 national bank, the concerned state government and the sponsor bank and with the prior approval of the central government, from time to time, increase the issued capital of the regional rural bank. The regional rural banks act, 1976legislative department. The regional rural banks act, 1976 the schedule see section 25 2 i, do hereby, declare that i will faithfully, truly and to the best of my skill and ability execute and perform the duties required of me as a director, member of a committee, officer, employee or auditor as the case may be of the regional rural bank and which properly. Accordingly, relevant provisions of the regional rural bank act, 1976 stand amended. An act to provide for the incorporation, regulation and winding up of regional rural banks with a view to developing the rural. Paschim banga gramin bank pbgb is a premier government owned regional rural bank rrb in india. Consideration of the regional rural banks amendment bill, 2004, pr oceedings other than questions and answers, xiv lok sabh. Be it enacted by parliament in the sixtysixth year of the republic of india as follows. Amendments to regional rural banks act, 1976 prime minister. Allahabad up gramin bank employees pension regulations, 2018. Rural banks in those days mainly focussed upon the agro sector.
Regional rural banks were established under the provisions of an ordinance passed on 26 september 1975 and the rrb act 1976 to provide sufficient banking and credit facility for agriculture and other rural sectors. An act further to amend the regional rural banks act, 1976. Working group 1975, and after the legislation of the regional rural banks act, 1976. Rajya sabha on 28 april 2015 passed the regional rural banks amendment bill. The bank is established by the amalgamation of howrah gramin bank, bardhaman gramin bank and mayurakshi gramin bank. The union cabinet, chaired by the prime minister shri narendra modi, today approved the amendments in the regional rural banks rrbs act, 1976 to enhance authorized and issued capital to strengthen their capital base and to bring flexibility in the shareholding between central government, state government and sponsor bank. Pdf innovation and management by regional rural banks in. An act to provide for the incorporation, regulation and winding up of regional rural banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, agricultural labourer artisans and small. Regional rural banks appointment of officers and employees amendment rules, 2017. Amendments to regional rural banks act, 1976 prime. Recapitalization of regional rural banks rrbs indiathinkers.
List of rrb regional rural banks in india in detail upsc. The regional rural banks were established with a view to develop such type of banking institutions which could function as a commercial organization in rural areas. Regional rural banks act, based on narsimhan committees recommendations for greater financial inclusion. In this act, unless the context otherwise requires, a board, in relation to a. Download this legislation word 97 version 269kb acrobat pdf version 311kb if you do not have the free acrobat reader on your computer, download it from the adobe website by clicking here. The regional rural banks act 1976 provide for incorporation, regulation and winding up regional rural banks with a view to developing the rural economy by providing for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, agricultural labourers. The central bank shall have the power to enforce the laws, orders, instructions, rules and regulations promulgated by the monetary board applicable to rural banks. Regional rural banks functions and importance pscnotes. May 19, 2015 the regional rural banks act has been incorporated on 9th february, 1976.
But later under the regional rural banks act which was passed in february 1976. Andhra pradesh grameena vikas bank employees pension regulations, 2018. Pdf the performance of regional rural banks rrbs in. We take pleasure in informing all officesbranches that in terms of letter f. Regional rural banks in india have achieved tremendous growth in terms of number of banks and its wide braches which is shown in the table1. The regional rural banks act 1976 provide for incorporation, regulation and winding up regional rural banks with a view to developing the rural economy by providing for the purpose. Download this legislation word 97 version 269kb acrobat pdf version 311kb if you do not have the free acrobat reader on your computer, download. Regional rural banks rrbs were established in 1975 under the provisions of the ordinance promulgated on 26thsept1975. The government of india promulgated the regional rural banks. Five rrbs were first established on the occasion of gandhi jayanti, on october 2nd, 1975.
Related judgement on rrb appointments and promotions of officers and employees rules 2010. Mar 26, 2020 countdown for new upsc ias preliminary exam date recapitalization of regional rural banks rrbs the cabinet committee on economic affairs, chaired by prime minister shri narendra modi, has given its approval for continuation of the process of recapitalization of regional rural banks rrbs by providing minimum regulatory capital to rrbs for another year beyond 201920. Regional rural banks banking awareness pdf download. Regional, town and country planning act chapter 29. India code link to regional rural banks act,1976 21 of 1976 9th february, 1976 an act to provide for the incorporation, regulation and winding up of regional rural banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities. List of regional rural banks in india 2018 list of rrbs. Regional rural bank to be deemed to be a cooperative society for purpose of the incometax act, 1961. Regional rural banks were established under the provisions of an ordinance promulgated on the 26th september 1975 and the rrb act, 1976 with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. Regional rural banks comes under scheduled commercial banks. Aug 24, 20 the total number of regional rural banks functioning in the country as at the end of june1999 was 196 covering 451 districts spread over 23 states with the network of14,467 branches these banks have been established by the government of india in terms of the provisions of regional rural banks act, 1976. Download for free of cost and get access to video classes. Regional rural banks act, 1976 bare acts law library. Rrbs aim to combine efficiency of a commercial bank with grassroot networking of a cooperative society. Thus the process of merger in 196 rrbs, spread over 14,496 branches in.
The regional rural banks act rrb act was passed in 1976. Apr 30, 2015 the amendment bill 2014 seeks to amend the regional rural banks act, 1976, which provided process for the incorporation, regulation and winding up of regional rural banks rrbs. The original act of 1976 was enacted to make provisions for the incorporation, regulations and winding up of the regional rural banks with the aim and object to develop the rural economy by offering the credits and other facilities for the purposes of the development of agriculture, trade, commerce, industry and other productive activities in. Regional rural banks were set up on the basis of the. Rules regulations notifications orders circulars ordinance statutes. This document details the provision of the regional rural banks act, passed in 1976, by the government of india. Aryavart bank is now sponsored by bank of india and works under regional rural banks act 1976 with. Notwithstanding anything contained in this act, if the central government, after consultation with the national bank, the concerned state government and the sponsor bank, is of the opinion that it is necessary in the public interest or in the interest of the development of the area served by any regional rural bank or in the interest of the regional rural banks themselves, that two or more. This act allowed the government to set up banks from time to time wherever it considered necessary. Pdf the regional rural banks are governmentowned, regionally based and rurally. Regional rural banks rrbs were established in 2nd october,1975 under the provisions of the ordinance promulgated on the 26th september 1975 and followed by regional rural banks act, 1976 with the aim of developing rural economy in all areas like agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to small and. List of rrb regional rural banks in india in detail. Notwithstanding anything contained in this act, if the central government, after consultation with the national bank, the concerned state government and the sponsor bank, is of the opinion that it is necessary in the public interest or in the interest of the development of the area served by any regional rural. Their equity is held by the central government, concerned state.
The major challenges to regional rural banks rrbs is to provide basic banking services to rural and sub urban areas of various states of india, but rrbs in india can expand their operations in urban areas too. To be published in the gazette of india, part iii, section 4. Problems and challenges of regional rural banking sector in. The trend towards inclusive banking again got a shot in the arm in the mid1970s when a new set of commercial banks, the regional rural banks rrbs, were introduced to improve the efficacy of the rural credit delivery mechanism. It was established on 26 february 2007 in exercise of the powers conferred by subsection 1 of section 23a of the regional rural bank act, 1976 21 of 1976. Considering the recommendations of the committee the government of india passed regional rural banks act 1976. The regional rural banks amendment act, 2015 lawyers law. Problems and challenges of regional rural banking sector in india,ijar indian journal of. Rao, rrbs came into existence in 26th september, 1975 and rrb act, 1976 with an objective to. The genesis of the rrbs can be traced to the need for a stronger institutional arrangement for providing rural credit. Home current affairs current affairs quiz general knowledge quiz ebooks download app hindi 14 regional rural banks banking awareness multiple choice questions mcqs and answers with explanation on regional rural banks for ibps bank po, ibps bank clerical, rrb po and clerical, sbi po and sbi clerical, ibps recruitments, rbi grade b and rbi bank. Regional rural banks act, 1976 mylegalwork online legal.
Mar 08, 2016 the original act of 1976 was enacted to make provisions for the incorporation, regulations and winding up of the regional rural banks with the aim and object to develop the rural economy by offering the credits and other facilities for the purposes of the development of agriculture, trade, commerce, industry and other productive activities in. Jun 10, 2018 regional rural banks in india were established in 1975 with the recommendations of the narshimham committee under rrb act 1976. In the beginning they were established under the presidential ordinance on rrbs. Regional rural banksappointment of officers and employees. Regional rural banks are established under the provisions of an ordinance promulgated on the 26th september, 1975 and the rrb act, 1976 with an objective to ensure. As you are aware, the rrb amendment act, 2015 has been notified in the gazette of india on 12 may 2015. An act to provide for the incorporation, regulation and winding up of regional rural banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities. It shall be deemed to have come into force on the 26th day of september, 1975. A study on merger impacts of regional rural banks in india.
The regional rural banks act has been incorporated on 9th february, 1976. Table 1 growth of regional rural banks in india years number of rrbs number of branches 200809 196 14,446 200910 3 14,484 201011 94 14,494. Kubatana archive regional, town and country planning act. Rajya sabha passed regional rural banks amendment bill, 2014. List of regional rural banks in india 2018 list of rrbs in. As a result, five regional rural banks were set up on 2 october 1975,gandhi jayanti. Full text containing the act, regional rural banks act, 1976, with all the sections, schedules, short title, enactment date, and footnotes.
The basic difference bw them are in their holding pattern. National conference on marketing and sustainable development october 14, 2017 isbn 9781943295104 602 by financing for the development of agriculture, commerce, industry and other productive. The approach to banking in india underwent a sea change with the nationalization of. In terms of section 23 of the regional rural banks act, 1976, the sponsor bank nabard and the state governments concerned have already given their concurrence for the proposed amalgamation of 14 rrbs. The performance of regional rural banks rrbs in india. Recapitalization of the regional rural banksaccepting and approving the recommendations of the committee, the government of india along with other shareholders took a decision to recapitalize the regional rural banks by infusing funds of rs 2200 crore, in the shareholder wise proportion of goi sponsor banks state governments i. In this act, unless the context otherwise requires. Pdf the performance of regional rural banks rrbs in india. Subsequently, the rrbs were set up through the promulgation of rrb act1 of 1976. Thus the process of merger in 196 rrbs, spread over 14,496 branches in 518 districts in india has quietly begun. Government of india approved revision in the regional rural banks rrbs act, 1976 which seeks to improve their capital base and to fix the maximum term of appointment of the central government nonofficial directors for two years. List of regional rural banksrrb in india entri blog.
Regional rural banks were established under the provisions of an ordinance passed on 26 september 1975 and the rrb act 1976 to provide sufficient. Aryavart bankab is a regional rural bank rrb sponsored by bank of india, constituted with the amalgamation of gramin bank of aryavart and allahabad. It seeks to amend the rrb act, 1976 which mainly provides for the. The rural banks had the legislative backing of the regional rural banks act 1976. An act to provide for the incorporation, regulation and winding up of regional rural banks with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in. This act may be called the regional rural banks act, 1976. All regional rural banks dear sir the regional rural banks amendment act.
Base don the recommendations of the group the government of india began to establish regional rural banks from 2nd october 1975 onwards. Thereafter, the first regional rural bank was setup in 1975 itself by the name prathama grameen bank. Home current affairs current affairs quiz general knowledge quiz ebooks download app hindi. Feb 24, 2021 an ordinance for the establishment of regional rural banks was passed on september 26, 1975, this being the date of establishment of rrbs. May 02, 2015 the regional rural banks were setup on the basis of narsimham committee report 1975, by the legilations of the regional rural banks act of 1976. An act to provide for the incorporation, regulation and winding up of regional rural banks with a view to developing the rural economy by providing, for the purpose of development of. Regional rural banks came into existence on gandhi jayanti in 1975 with the formation of a prathama grameen bank. Regional rural banks vs cooperative banks bankexamstoday.
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