RRB's

Regional Rural Bank 

 

• Definition:

  Regional Rural Banks are the banking organizations being operated in different states of India. They have been created to serve the rural areas with banking and financial services. However, RRB's may have branches set up for urban operations and there area of operation may include urban areas too.

  The Government of India, the concerned State Government and the bank, which had sponsored the RRB contributed to the share capital of RRBs in the proportion of 50%, 15% and 35%, respectively. The area of operation of the RRBs is limited to notified few districts in a State. The RRBs mobilise deposits primarily from rural/semi-urban areas and provide loans and advances mostly to small and marginal farmers, agricultural labourers , rural artisans and other segments of priority sector.

• Functions of RRB's

1. Providing banking facilities to rural and semi-urban areas.
2. Carrying out government operations like disbursement of wages of MGNREGA workers, distribution of   pensions etc.
3. Providing Para-Banking facilities like locker facilities, debit and credit cards.

• The following is the list of officers in decreasing order of their rank in the organization.

1. Chairman
2. General Manager
3. Chief Manager
4. Officer Scale III
5. Officer Scale II
6. Officer Scale I
7. Assistants

List of Regional Rural Banks