In this act, unless the context otherwise requires, a board, in relation to a. An act to provide for the incorporation, regulation and winding up of regional rural banks with a view to developing the rural. The regional rural banks rrbs were established in 1976 under regional rural banks act, 1976. Allahabad up gramin bank employees pension regulations, 2018. Pdf the performance of regional rural banks rrbs in. The past and the present debate sukanya bose the institution of regional rural banks rrbs was created to meet the excess demand. Organisation, functions and management of regional rural. The regional rural banks act, 1976 legislation vlex.
Narsimham rao, rrbs came into existence in 26th september, 1975 and rrb act, 1976 with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. 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. Article pdf available february 2007 with 6,320 reads. Government and rbis powers opening of new banks and branch licensing constitution of board of directors and their rights banks share holders and their rights crr and slr concepts cash. 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 in eastern uttar pradesh the government of india accepting the recommendations made by the working group, promulgated an ordinance on september 26, 1975, for setting up regional rural banks. The banking regulation act, 1949 reserve bank of india. A study on merger impacts of regional rural banks in india isbn. Andhra pradesh grameena vikas bank employees pension regulations, 2018. Subsequently, the rrbs were set up through the promulgation of rrb act1 of 1976. Notification under section 23a to be sufficient notice to concerned parties. The rural credits act and its effect on the investment. Problems and prospects of regional rural banks in india.
The first regional rural bank to be established is the prathama bank in muradabad district of uttarpradesh, sponsored by the syndicate. 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. The preamble to the act states the objective to develop rural economy by providing credit and facilities for the development of agriculture, trade, commerce, industry and other productive. 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. The regional rural banks act 1976 indian bare acts at, a website for indian laws and bareacts, legal advice and law. The government of india promulgated the regional rural banks ordinance on 26 th september 1975, which was later replaced by the regional rural bank act 1976. Initially five rrbs were set up on 2nd october 1975 under a presidential ordinance, which followed the promulgation of regional rural banks act in april 1976. A study on indian rural banking industryissues and challenges. Regional rural banks agricultural finance indiaagronet. The development process of rrbs started with the promulgation of an ordinance promulgated on 26th september 1975 which later on was replaced with regional rural bank act, 1976 with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. Cabinet approves amendments in regional rural banks act, 1976.
A regional rural bank is popularly known as gramin bank. Regional rural banks banking awareness pdf download. 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. Carrying out government operations like disbursement of wages of mgnrega workers, distribution.
Their equity is held by the central government, concerned state. The arb apex bank was granted a banking license in 2001 and commenced commer. The regional rural banks act has been incorporated on 9th february, 1976. Performance evaluation of regional rural banks with.
Rural communities showed tremendous interested in the community ownership and management features of rcbs, and by 1984 the number of rcbs. Provisions of rbi act 1935, banking regulation act 1949, prevention of money laundering act, 2002. List of regional rural banks in india ibps participating. Be it enacted by parliament in the sixtysixth year of the republic of india as follows. Thereafter, the first regional rural bank was setup in 1975 itself by the name prathama grameen bank. 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.
Regional rural banks act, 1976 bare acts law library. Regional rural bank to be deemed to be a cooperative society for purpose of the incometax act, 1961. The act provides for the incorporation, regulation and dissolution of regional rural banks rrbs in india. Be it enacted by parliament in the sixtyfourth year of the republic of india as follows.
Findev gateway hosts the largest, free collection of online resources on microfinance and financial. 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. Download fulltext pdf download fulltext pdf the performance of regional rural banks rrbs in india. Revision of pay and allowances of regional rural banks. Rrb appointment and promotion of officers and employees.
An act further to amend the regional rural banks act, 1976. The rrbs act, 1976 succinctly sums up this overall vision to subserve both the. Which committee recommended the establishment of the rrbs. 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. With exception of shareholdings of corporations organized primarily to hold equities in rural banks as provided for under section 12c of republic act 337, as amended, and of filipinocontrolled domestic banks, the capital stock of any rural bank shall be fully owned and held directly or indirectly by citizens of the philippines or corporations. 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. The regional rural banks act, 1976legislative department. 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. In this act, unless the context otherwise requires, a board, in relation to a regional rural bank, means the board of. Regional rural banks were set up on the basis of the recommendations of the narasimham working group 1975, and after the legislations of the regional rural banks act, 1976. The rrbs have been identified as scheduled commercial banks under the reserve bank of india act1934 and are authorized to transact banking business as defined in the banking regulation. Regional rural banks rrbs are financial institutions which ensure adequate credit for agriculture and other rural sectors. Amuthan excel business school, salem banks play an important role in mobilization and allocation of resources in our country.
Regional rural banks rrbs are scheduled commercial banks government banks operating at regional level in different states of india rrbs perform various functions in following heads providing banking facilities to rural and semiurban areas. Rural people in india are still facing problems for inadequate supply of credit. 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 sufficient institutional credit. The regional rural banks amendment act, 2015 lawyers law. As a result, five regional rural banks were set up on 2 october 1975,gandhi jayanti. This was subsequently replaced by the regional rural banks act 1976 on february 9th 1976. As the result of this recommendation a working group headed by mr. Revision of pay and allowances of regional rural banks employees. Parliament passes amendment to regional rural banks bill. A study on merger impacts of regional rural banks in india. The development process of rrbs started with the promulgation of an ordinance promulgated on 26th september 1975 which later on was replaced with regional rural bank act, 1976 with an objective to ensure.
The performance of regional rural banks rrbs in india. 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 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 rrbs are indian scheduled commercial banks government banks. An act that regulates the operations of the regional rural banks in india. Rrbs are an integral part of rural credit system and are expected to play an increasingly important role in the development of, particularly, rural areas. Subsequently, the rrbs were set up through the promulgation of rrb act of. Revision of pay and allowances of regional rural banks employees under proviso 2 of section 17 1 of the regional rural banks act, 1976. Ministry of finance issued a series of policies to promote the financial institutional support for agriculture, which provide a massive policy support for development of rural banks in heilongjiang province. Swot analysis on the development of the rural banks in. Solutionby examveda team regional rural banks rrbs were established in 1975 under the provisions of the ordinance promulgated on the 26th september 1975 and followed by regional rural banks act, 1976 with a view to develop the rural economy and to create a supplementary channel to the cooperative credit structure with a view to enlarge institutional credit for the rural and agriculture.
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