Regional Rural Banks- A Perspective S. B. Singh General Manager, Bank of India & Chairman Aryavart Bank, Lucknow Regional Rural Banks (RRBs) are one of the most important instruments of rural economic growth established through parliamentary enactment known as “Regional Rural Bank Act 1976” though five RRBs were established on 2 nd October, 1975 on the pilot basis under the provisions of the ordinance passed on 26 th September 1975. RRBs are having presence in remote rural areas having 53 Banks with 21871 branches across India having deposit base of Rs 434,444 lac crores and advance o...
Engine of Economic Revival – Indian Agriculture S. B. Singh, Chairman Aryavart Bank & General Manager Bank of India Indian agriculture sector is the biggest employment provider with prevalence of disguised and under employment, which is primary source of livelihood for about 58% population with close to 16% contribution in gross domestic product of the country. This sector can play significant role in revival of Indian economic growth with minimum per capita investment thereby limiting the workforce migration to urban and industrial centers and relieving the unban agglomerations from infrastructural bottlenecks due to migrant workforce. The Indian agriculture sector needs four types of interventions to achieve accelerated growth, which are as under: I- Management of Food Wastage II- ...
Regional Rural Banks– Some Reflections The landscape of Regional Rural Banks (RRBs) has undergone transformation in their history of forty five plus years, which were first established in 1975 as joint venture of the Government of India, State Governments and Sponsor Banks. These banks were primarily meant for serving the unbanked semi-urban, rural, tribal and hilly areas of the country with focus on agriculture lending. This was the phase of green revolution and Indian agriculture was becoming capital intensive due to use of high yielding variety seeds, chemical fertilizers and farm mechanization. These bank flourished in their first phase of thirty years expanding the branch and bank network having network of 14,527 branches and 196 Banks in 2004. Thi...
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