List of Regional Rural Banks In India PDF - Check History, Ownership, Functions, And List Of RRBs 2024
Aug 08 2024
Regional Rural Banks List in India 2024: Regional Rural Banks in India are Scheduled Commercial Banks that provide banking services for rural and underprivileged people at the regional level across various states in the country.
Regional Rural Banks are government-owned banks as half of the bank’s share is owned by the Central Government. RRBs are mainly empowered to provide for the needs of destitute people at the regional level across different states in the country. Empowering the needy people in the backward areas will induce Financial Inclusion across the country. At present, there are 43 RRBs in India. Each RRB is sponsored by the Central government, the State government, and the sponsor bank. To boost the rural economy, the main aim of the Regional Rural Banks is to provide banking facilities to the small, marginal farmers, artisans, etc. in rural areas. Here we discussed about the full form of RRB bank, RRB in banking, rural regional bank, top 10 regional rural banks in India, rrb bank, rrb banks, rrb in bank, regional rural banks in Tamilnadu, rural regional banks, rural banks, ibps rrb banks, RRB banks list, regional rural bank meaning, regional rural bank recruitment, regional rural bank established, regional rural bank example, regional rural bank committee, regional rural bank list, regional rural bank established in India, first regional rural bank in india, regional rural bank established in which year, regional rural bank history, regional rural bank functions, regional rural bank total number, top 10 regional rural banks in India, which state has the highest number of rrbs in India, regional rural banks were established in the year, first RRB in India, How many RRB in India? and so on in detail.
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In total Indian population, nearly 70% of the people resides in rural areas, which has a larger impact on the economic situation of the country. Consequently, there is a need for a strong and efficient banking system in rural areas, to offer customized products and timely credit at affordable rates, unlike traditional moneylenders who provide loans at very high interest rates. Like developing countries like India, RRBs play a vital role in the growth and development of rural and backward areas.
From this article let us discuss the complete list of Regional Rural Banks in India. This article includes information on the History of RRB, RRB ownership, Objectives of Regional Rural Banks in India, Features of RRB, Amalgamation of RRB, Regulator of RRB, Functions of Regional Rural Banks, Chairman of Regional Rural Bank, List of RRB in India, list of RRB in Tamilnadu, list of RRB in Haryana, list of RRB in Gujarat, regional rural bank example, list of RRB in UP, regional rural bank meaning, list of RRB in Andhra Pradesh, list of RRB in West Bengal, list of RRB in Delhi, list of RRBs in Karnataka, list of RRB in Rajasthan, the complete list of RRB in India 2024 PDF download, first regional rural bank in india, and Regional Rural Banks in India FAQs. RRB bank recruitment is conducted every year to select the well deserved candidates for the post of RRB clerk and RRB PO. Candidates can check this Banking Awareness material for their upcoming competitive exams and make use of it.
Regional Rural Banks in India PDF Download
Click the link provided below to download the free PDF of Regional Rural Banks in India in English and Hindi.
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About Regional Rural Banks in India 2024 PDF in English |
About Regional Rural Banks in India 2024 PDF in Hindi |
History of Regional Rural Bank:
Under the provisions of the Ordinance promulgated on 26 September 1975 by the Narasimham Working Group and after the legislation of the Regional Rural Banks Act, 1976, the Regional Rural Banks (RRBs) were established in the year 1975.
Prathama Grameen Bank, the first Regional Rural Bank was established on 2nd October 1975. Prathama Bank is headquartered in Moradabad, Uttar Pradesh and it was sponsored by Syndicate Bank and had an authorized capital of INR 5 crores.
A total of 5 RRBs were set up on the recommendation of the Narasimhan Committee. The other 4 RRBs were,
- Gaur Gramin Bank (sponsored by UCO Bank),
- Gorakhpur Kshetriya Gramin Bank (sponsored by State Bank of India),
- Haryana Kshetriya Gramin Bank (sponsored by Punjab National Bank), and
- Jaipur-Nagpur Anchalik Gramin Bank (sponsored by UCO Bank).
RRBs are financial institutions that provide adequate credit and other banking facilities for agriculture and other rural sectors. Each RRB operates within a local area limit as notified by the Government. RRBs attribute the characteristics of a cooperative by solving rural problems and a commercial bank by organizing financial resources.
After some reforms in 1990, the government started the consolidation program which has declined the number of Regional Rural Banks from 196 in 2005 to 43 in the fiscal year 2021. While 30 of the total 43 RRBs reported their net profits.
Ownership of Regional Rural Bank:
The equity shares of Regional Rural Banks are distributed among the Central Government, the Sponsor Bank, and the State Government in a fixed proportion. The ownership of RRB is as follows,
- Central Government - 50%
- Sponsor Bank - 35%
- State Government - 15%
Regional Rural Bank owned by the Government of India as the maximum share capital is owned by the Central Government.
Objectives of Regional Rural Bank:
Here we have provided some of the important objectives of Regional Rural Banks in India.
- The main objective of the Regional Rural Bank is to provide credit and banking facilities to the small (owns 1 or 2 hectares of land) and marginal (owns less than 1 hectare of land) farmers, agricultural laborers, small artisans, and entrepreneurs in the rural areas.
- The Regional Rural Banks(RRBs) were conceptualized to combine the local feel and familiarity of rural problems characteristic of cooperatives with the professionalism and large resource base of commercial banks.
- Regional Rural Banks (RRBs) were established with the aim of developing the banking systems in rural parts of India for the purposes of agriculture, commerce, industries, and other credit needs.
- RRBs cater to a more scattered population that demands smaller ticket loans, and these banks operate under strict operational and lending norms.
First Regional Rural Bank In India:
The first Regional Rural Bank in India is Prathama Bank which is headquartered in Moradabad, Uttar Pradesh and it was sponsored by Syndicate Bank.
Features of Regional Rural Bank:
The following are the important features of Regional Rural Banks in India,
- RRBs are a new form of scheduled commercial banks which is backed by a strong commercial bank.
- Each RRB is operated within a certain limit only.
- RRBs provide banking facilities to small, marginal farmers, artisans, etc. in rural areas.
- RRBs reduce regional imbalances by checking the outflow of rural deposits to urban areas. This will increase the employment generation in rural areas.
- RRBs provide 75% of their total credit as Priority Sector Lending to fulfill the criterion applicable to commercial banks.
At present, there are 43 Regional Rural Banks (RRBs) in India with 21,856 branches across 26 States and 3 UTs. They are sponsored by 12 Scheduled Commercial Banks (SCBs). RRBs in India have 28.3 crore depositors and 2.6 crore borrowers.
Role and Functions of Banks in India
Amalgamation of Regional Rural Banks:
Here we have provided the merger of RRB banks complete details in this passage.
The Reserve Bank of India in 2001 constituted a Committee under the Chairmanship of Dr. V S Vyas on “Flow of Credit to Agriculture and Related Activities from the Banking System” to examine the relevance of RRBs in the rural credit system and the alternatives for making it operational. In the year 2005, the consolidation process was initiated as recommended by Dr. V S Vyas Committee.
In 2005, the first phase of amalgamation was initiated by the Sponsor Bank-wise within a State. The amalgamation process brought down the number of RRBs from 196 to 82. With a view to providing better customer service by having better infrastructure, computerization, an experienced workforce, common publicity, and marketing efforts the amalgamation was carried out in the year 2011. The amalgamated RRBs also benefit from large areas of operation and enhanced credit exposure limits for high-value and diverse banking activities. As a result of the second phase of amalgamation during 2011-2014, the number of RRBs was brought down to 56 from 82.
In the year 2018-2019, the amalgamation of RRBs was done based on the roadmap provided by NABARD and consultation with respective Sponsor Banks and State Governments. As of April 2019, the number of RRBs has been brought down to 43 from 56. The amalgamation has been made with the expectation of bringing better efficiency of scale, higher productivity, improved financial health of the RRBs, and greater credit flow to rural areas.
Regulatory Authority of Regional Rural Banks in India:
The two prime regulators of Regional Rural Banks (RRBs) in India are the Reserve Bank of India and the NABARD (National Bank for Agriculture and Rural Development).
RBI: The Banking Regulation Act, of 1949 empowers the Reserve Bank of India to inspect and supervise commercial banks. RBI is the overarching regulator of the entire banking system.
NABARD: NABARD functions as the supervisor of rural financial institutions- both Regional Rural Banks (RRBs) and Rural Cooperative Banks (RCBs) under Section 35(6) of the Banking Regulation Act, 1949.
Functions of Regional Rural Banks in India:
The Regional Rural Bank in India is a scheduled commercial bank whose primary function is to accept deposits and disburse loans.
The other important functions of RRBs in India are as follows,
- RRBs provide various banking facilities to rural and semi-urban areas.
- The main function of RRBs is to disburse wages of Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and Pradhan Mantri Gram Sadak Yojana (PMGSY) workers and distribute pensions.
- RRBs provide para-banking facilities such as locker facilities, debit and credit cards, mobile banking, internet banking, and UPI services.
- They provide basic banking needs for the development of Agriculture, Trade, Commerce, Industry, and other productive activities in rural areas, credit, and other facilities, particularly to the small and marginal farmers, Agricultural Labourers, Artisans, and small entrepreneurs.
Chairman Regional Rural Bank:
Here we have provided the chairman of RRBs in India and how they are appointed.
- Each Regional Rural Bank contains a separate chairman.
- Under the provision of Section 11 of the RRB Act, 1976, the chairman of the RRBs is appointed by the Sponsor Banks of the respective RRBs.
- With the consultation with NABARD, the sponsor bank appoints the chairman of RRBs sponsored by them. But there are no guidelines for the selection of a chairman.
List of Regional Rural Banks in India 2024: Top 10
The Regional Rural Banks in India list state wise is given in the below table. Candidates can check the state wise Regional Rural Banks name, RRB head office, RRB sponsor bank, and their official website. Candidates can know the complete details of specific Regional Rural Bank state wise on the official websites of the banks.
List of Regional Rural Banks in India 2024 |
|||
State |
Bank Name |
Head Office |
Sponsor Bank |
Andhra Pradesh |
Andhra Pragathi Grameena Bank |
Kadapa |
Canara Bank |
Chaitanya Godavari Grameena Bank |
Guntur |
Union Bank of India |
|
Saptagiri Grameena Bank |
Chittoor |
Indian Bank |
|
Telangana |
Andhra Pradesh Grameena Vikas Bank |
Warangal |
State Bank of India |
Telangana Grameena Bank |
Hyderabad |
State Bank of India |
|
Assam |
Assam Gramin Vikash Bank |
Guwahati |
Punjab National Bank |
Arunachal Pradesh |
Arunachal Pradesh Rural Bank |
Naharlagun |
State Bank of India |
Bihar |
Uttar Bihar Gramin Bank |
Muzaffarpur |
Central Bank of India |
Dakshin Bihar Gramin Bank |
Patna |
Punjab National Bank |
|
Chhattisgarh |
Chhattisgarh Rajya Gramin Bank |
Raipur |
State Bank of India |
Gujarat |
Saurashtra Gramin Bank |
Rajkot |
State Bank of India |
Baroda Gujarat Gramin Bank |
Vadodara |
Bank of Baroda |
|
Haryana |
Sarva Haryana Gramin Bank |
Rohtak |
Punjab National Bank |
Himachal Pradesh |
Himachal Pradesh Gramin Bank |
Mandi |
Punjab National Bank |
Jharkhand |
Jharkhand Rajya Gramin Bank |
Ranchi |
State Bank of India |
Jammu & Kashmir |
J&K Grameen Bank |
Jammu |
J&K Bank Ltd. |
Ellaquai Dehati Bank |
Srinagar |
State Bank of India |
|
Karnataka |
Karnataka Gramin Bank |
Ballari |
Canara Bank |
Karnataka Vikas Grameena Bank |
Dharwad |
Canara Bank |
|
Kerala |
Kerala Gramin Bank |
Malappuram |
Canara Bank |
Maharashtra |
Maharashtra Gramin Bank |
New Aurangabad |
Bank of Maharashtra |
Vidharbha Konkan Gramin Bank |
Nagpur |
Bank of India |
|
Madhya Pradesh |
Madhya Pradesh Gramin Bank |
Indore |
Bank of India |
Madhyanchal Gramin Bank |
Sagar |
State Bank of India |
|
Manipur |
Manipur Rural Bank |
Imphal West |
Punjab National Bank |
Meghalaya |
Meghalaya Rural Bank |
Shillong |
State Bank of India |
Mizoram |
Mizoram Rural Bank |
Aizawl |
State Bank of India |
Nagaland |
Nagaland Rural Bank |
Kohima |
State Bank of India |
Orissa |
Utkal Grameen Bank |
Bolangir |
State Bank of India |
Odisha Gramya Bank |
Bhubaneshwar |
Indian Overseas Bank |
|
Punjab |
Punjab Gramin Bank |
Kapurthala |
Punjab National Bank |
Puducherry |
Puduvai Bharathiar Grama Bank |
Muthialpet |
Indian Bank |
Rajasthan |
Baroda Rajasthan Kshetriya Gramin Bank |
Ajmer |
Bank of Baroda |
Rajasthan Marudhara Gramin Bank |
Jodhpur |
State Bank of India |
|
Tamilnadu |
Tamil Nadu Grama Bank |
Salem |
Indian Bank |
Tripura |
Tripura Gramin Bank |
Agartala |
Punjab National Bank |
Uttar Pradesh |
Aryavart Bank |
Lucknow |
Bank of India |
Baroda UP Bank |
Rae Bareli |
Bank of Baroda |
|
Prathama UP Gramin Bank |
Moradabad |
Punjab National Bank |
|
Uttarakhand |
Uttarakhand Gramin Bank |
Dehradun |
State Bank of India |
West Bengal |
Bangiya Gramin Vikash Bank |
Berhampore |
Punjab National Bank |
Paschim Banga Gramin Bank |
Howrah |
UCO Bank |
|
Uttar Banga Kshetriya Gramin Bank |
Cooch Behar |
Central Bank of India |
The above table contains the list of RRBs functioning in the country. Candidates can check the regional rural banks in Tamilnadu, regional rural banks in Andhra Pradesh, list of regional rural banks in Karnataka, regional rural banks in Bihar, regional rural banks in Uttar Pradesh, regional rural banks in West Bengal, regional rural banks in Maharashtra, regional rural banks in Odisha, and regional rural banks in India 2024. The total number of rrbs in India is 43.
IBPS RRB PO Previous Year Paper
Candidates who are preparing for the interview of IBPS RRB PO can download the About Regional Rural Bank in India PDF by clicking the link given above and the candidates can make use of it. The above details contain the Regional Rural Bank in India list.
Regional Rural Banks in India - FAQs
Q. What is the full form of RRB?
A. The full form of RRB is Regional Rural Bank.
Q. What are Regional Rural Banks?
A. Regional Rural Banks in India are Scheduled Commercial Banks that provide banking services for rural and underprivileged people at the regional level across various states in the country.
Q. Which is the first Regional Rural Bank in India?
A. The first RRB in India is Prathama Bank which is headquartered in Moradabad, Uttar Pradesh and it was sponsored by Syndicate Bank.
Q. What are the regulatory bodies of RRBs in India?
A. The RBI and NABARD are the two regulatory bodies of RRBs in India.
Q. How many RRBs are currently operational in India?
A. At present, 43 Regional Rural Banks are operating in India.
Q. What is the difference between RRBs and Commercial Banks?
A. RRBs provide credit and other banking facilities to the rural areas of the country while the Commercial Banks provide agricultural loans along with car, housing and other loans and other utility services.
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